Consumer credit is up sharply. The market has indeed increased by 6% in one year and the French are starting to borrow to finance a project. More confident, the French want to have fun or improve their lives.

What has increased?

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Overall, this is the average amount borrowed by each household, which has increased: it goes from 11,000 USD to 13,000 USD.

This phenomenon can be explained in two ways: families can have a bigger budget, so they can repay larger monthly payments and / or they are more confident in the future and can afford to pay back more long duration.

What should I watch out for when I subscribe to a credit?

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Takes the opportunity to remind you of some points that should attract your attention when you take out a loan:

Avoid revolving credits as much as possible : they are credits whose rate is not fixed. The variations of the rate depend on a large number of factors that one does not control (neither you nor us): unscrupulous organisms take advantage of it to bait you with very attractive rates before rising them suddenly. Whenever possible, prefer a fixed rate credit so you can project yourself in time and avoid unpleasant surprises. Which has increased: it goes from 11,000 USD to 13,000 USD.

Since it is the rate that expresses the total cost of credit

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Be attentive to the APR : this is the most important rate, since it is the rate that expresses the total cost of credit, including insurance. Attractive rates can sometimes be misleading. Do not hesitate to read our article for more precision on the subject! The market has indeed increased by 6% in one year and the French are starting to borrow to finance a project. More confident, the French want to have fun or improve their lives.