Promo rate and cheap credit: watch out for false promises
Are you looking for a cheap promo rate or real credit? You will be entitled to the best offers thanks to Astro Finance. Independent comparator, our tool integrates promotional credit rates. The objective is simple: offer everyone to leave with a positive credit opinion at the best APR rate.
Cheap credit at promotional rate explained
Consumer credit at promotional rate
Finding the best consumer credit rate is Astro Finance’s specialty. We regularly record all the rates from the largest organizations, over all the durations and all the amounts so that you can easily access the ranking of the best consumer credit rates that correspond to your project. Whether it’s a car loan promo rate, a work loan promo rate or a personal loan promo rate, you will find the cheapest credit on Astro Finance.
Thanks to our exclusive questionnaire, not only will you have access to a cheap loan, but you will also have only one entry to make. At the end of our questionnaire, you will get the ranking of the 3 cheapest offers and you will be able to choose where you want to submit a request to find out whether the organization accepts you or not. We advise to deposit at least 2 requests because for the best personal loan rate, it is not uncommon for the organization to accept only good files to be sure that it does not take any risk, because it has already carried out a big effort on its margin by offering the best promo rate.
But that’s not all. To increase the chances of actually obtaining the best promo rate, you will benefit from an automatic, non-binding evaluation of the organization offering the cheapest credit rate. You will therefore get guidance on whether you are interested in filing several files and thus be more sure of obtaining the best credit promotion.
Promo rate: APR reference
To be able to measure a promo rate credit in concrete terms and compare it to other credits, you must start from an indisputable reference. We have chosen to use the APR rate, the annual effective annual rate as a reference. It is a rate defined by the consumer credit law as a reference to be systematically communicated by financial organizations and banks in matters of consumer credit. This rate includes all the costs that a credit could include, including administration fees if there were any. For a promotional rate credit, the way to verify that the rate is promotional is to ensure that the APR is the lowest.
We also invite you to be careful with our competitors who very often do not rank according to this rate but according to the commissions they will receive. They may display very large and very flashing PROMOTION banners, not sure that in the end you will be a winner!
Promo rate of store cards
We also regularly list the promo rates for store cards such as payments in 3 installments at no cost or free credit. you will find them in the form of briefs attached to each card on our credit card tab. Nevertheless, we are quite cautious on the subject because we certainly want you to take advantage of good deals and promo rates but most of these cards are linked to a revolving credit which is fixed to it at a very high rate, generally around 20 % of renewable TEAG. This is also why, apart from the promotional rate, we recommend that our customers take a traditional depreciable loan which costs much less.
If you want to put an end to your revolving credit, you can take a classic credit on our comparator while benefiting from the best promo rates. If you have several credits, you must go through a credit buyback. We also offer this option in our comparator.
Save with our credit promo rates
Here is the proof of the interest of a credit rate promotion. Take the example of a car loan in the form of a 15,000 euro credit over 60 months. The best car loan promotion offers a fixed APR rate of 2.80%, while the most expensive organization offers a fixed APR rate of 5.77%. Let’s take a look at the interest generated by these rate differences.
|New car loan $ 15,000 over 60 months||Fixed APR rate||Monthly fees||Total cost of credit|
|Cheapest credit||2.80%||267.96 $||1077.60 $|
|Second organism||3.20%||287.37 $||2242.20 $|
|Third body||3.55%||272.83 $||1369.80 $|
|Most expensive credit||5.77%||287.37 $||2242.20 $|
The differences in terms of total cost are very significant. Concretely, the car loan 15,000 euros requires $ 1,164.60 more than the cheapest, more than double. It is clearly an overpriced credit.
Promo rate mortgage
The home loan promo rate market is a little different from the consumer loan market. This is also why you hardly ever see big banks communicate on television about their promo rate for mortgage loans, while Viloan, Bankate or Zaloan are not shy about talking about their promo rate credit.
The mortgage rate is fairly linked to local real estate and to the performance of the bank’s regional branch, such as the Crédit Agricole regional funds. It is therefore practically impossible to display exact mortgage rates.
Why is he the best mortgage broker? Because not only, he will be able to find you the best mortgage loan promo rate but also and above all because he will not take any costs: 0 euros of administration fees ! That it will find the best credit for you will cost you nothing, it is also our philosophy.
Promo savings rates
If you are looking for the best promo rate for your savings, we will introduce you to Astro Finance. Built on the same principle as Astro Finance, Astro Finance aims to offer you the best savings promotion rates.
Whether you are looking for the best rate on a savings book, on the stock exchange or on life insurance, you will find the classification of savings savings rates on Astro Finance.
Savings promo rate
Regarding savings promo rates, it’s like credit promo rates, beware. Indeed, you can benefit from a promotional rate over a few months and then, for all the following years, your rate will be unattractive. This is often the case on savings books. This is why our savings booklet comparison does not only take into account the promo rate at the opening but also includes the rate that you will have after the promotional rate period and the management fees that you may be asked to pay.
We nevertheless display the promo rate and the duration of the promotion so that people who wish to juggle from promo rate to promo rate with their savings can do so.
In life insurance, it is very different because we leave for long periods. There is therefore no promo savings rate in this type of product. Our ranking compares both the remuneration of the investment support observed in previous years and the management costs.
Finally, regarding the stock market, again, no promo rate on this type of investment whose income depends on the investment medium. Our ranking offers the cheapest transaction management costs between the largest brokers and the largest banks.