We have already had the opportunity to tell you about this young credit company whose approach to finance is atypical . And if it grows, it could well become a stone in the shoe of the established banking system. You have no doubt understood that we are going to talk about Spin Lender Credit.
We are already, bent over their repurchase of credit, financed by individuals. Since the auto credit that she has developed is based on the same system, we are not going to come back to it.
The motorbike auto loan in detail:
- It is an assigned consumer credit (or dedicated, these two terms mean the same thing). To be more clear, it is a loan, the amount of which can only be used for the purchase of the property designated in the contract. Therefore if you take out a loan for the purchase of a vehicle of 10,000 USD. You will not be able to buy anything else, or even buy a 5000 euro car and pay yourself a vacation with the rest. For a simple reason:: Spin Lender credit will systematically ask you to justify the purchase with the seller’s invoice (dealer, garage or others)
- It allows you to acquire a new vehicle as well as a used car.
- The car loan can cover the total price of the car, or only part of it in case of personal contribution. This can be made up by the resale of the old vehicle. In any case, no contribution will be required.
- Characteristics : The amount granted by Spin Lender will be included in a range of 3,000 to 75,000 USD. Over a maximum period of 7 years. (However, the online simulator does not go beyond 40,000 USD)
- Refundable by monthly installments. With the possibility of settling the loan in advance (in principle at no additional cost)
To contact Spin Lender, you can read our article dedicated to this subject.
This credit can be taken out online. The process is simple:
- First, enter the amount required for the purchase and the desired depreciation period.
- Then click on the icon, ” continue without commitment “.
- Then simply enter your contact details (email address).
- A non-contractual response (in principle, without obligation), will be sent to you quickly.
What do we think?
We don’t usually get carried away. But we are rather seduced by the idea of financing consumer credits from other consumers, with no other intermediary than the Spin Lender platform. It is a bit of a snub to the current banking system.