Answers to
All Your Credit Questions

To buy out your lease, you simply need to request a final statement from the lender. This document outlines the total amount required to settle the lease, including the balance of unpaid monthly payments (excluding interest), the residual value, and any applicable fees.

To obtain a work credit, you will need to provide the standard documents required for a credit application. This typically includes a copy of your valid ID, information about your financial situation, and recent proof of your income.

One of the key advantages of a construction loan is that, unlike other types of loans, you are not required to provide detailed invoices or estimates for the work to be undertaken.

For more information and a complete list of required documents, visit our page: Required Documents for Credit Application.

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The residual value of a lease contract in Switzerland, also known as the 'valeur résiduelle,' is the estimated amount the lessee must pay at the end of the lease term to acquire the vehicle. This value is specified in the lease agreement and is determined by factors such as the contract duration, the vehicle's make and model, and the expected mileage.

Credial’s services as a credit broker are entirely free of charge for clients. Credial is remunerated by the partner banks it collaborates with, in full compliance with the Consumer Credit Act (LCC).

This means you will not incur any additional costs to benefit from Credial’s expertise or the personalized support of your dedicated advisor. Our goal is to provide you with transparent, high-quality service at no extra expense to you.

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If your credit application is refused, the lender is required to follow strict data protection regulations. In Switzerland, your personal data may still be stored for a limited period, as mandated by the Swiss Data Protection Act (FADP) and other relevant regulations, such as the Consumer Credit Act (CCA).

This storage is typically for compliance purposes, including auditing and regulatory obligations. However, your data cannot be used for any purposes beyond those explicitly authorized by law.

If you have concerns about how your data is handled, you have the right to request details from the lender about the retention period and usage of your information.

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When you decide to increase an existing credit, it’s important to note that this automatically results in the closure of the current credit agreement. Consequently, new payment slips will be issued for the repayment of the updated financing, which includes the balance of the previous credit and the additional amount disbursed to your account.

When you apply for credit, only the information related to the initiation of your application is generally transmitted to the ZEK (Credit Information Center). ZEK is notified that the request has been created, but specific details of your credit application (such as the amount, type of credit, or terms and conditions) are not disclosedd.

The mention of code 178 on the driving license is actually an important restriction when it comes to the sale or transfer of a vehicle. In other words, if this code is on the license, it means that the owner of the vehicle cannot sell it or transfer it to someone else without first obtaining permission from the Automobile Office. In general, this mention is given to vehicles that have been financed through a leasing contract. Its aim is to ensure that all issues related to vehicle leasing are properly resolved prior to any sale or transfer of ownership.

The monthly payment break is a service included in some credit contracts and is usually mentioned in the general terms and conditions. For example, certain banks, such as BANK-now, allow you to defer up to two monthly payments free of charge, without additional costs or interest.

Other banks may also offer the option to defer several monthly payments until the end of the loan term. However, in such cases, fees may apply, and the deferred payments will accrue interest.

It is essential to respect the repayment terms outlined in your credit agreement. We recommend contacting the bank that granted your credit for specific details regarding this option.

The Credial team is also available to assist you in exploring your options and ensuring you find the best solution for your situation.

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In accordance with the Consumer Credit Act (LCC), you have a legal right to withdraw from your loan contract within 14 days of signing, free of charge. Additionally, you may request an extension of the withdrawal period if needed. To cancel your contract, simply send your request directly to the bank that issued the credit agreement or contact your personal advisor.