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Post by captainconfident on Mar 23, 2019 10:31:43 GMT
They have buyback guarantees but for your extra 1%, you buy into a guarantee from some of the financially weakest companies on Mintos.
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benaj
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Post by benaj on Mar 23, 2019 11:10:24 GMT
Having been Mintos on 4 months now, I think sometimes the high headline rates on short term loans can be smoke due to early rebuy and other factors.
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0risk
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Post by 0risk on Mar 23, 2019 14:07:09 GMT
I wonder though which lenders, and whether they have buyback? I am pretty wary of some lenders on Mintos. All have buyback guarantee and the lenders are GetBucks, Kuki.pl, Varks, Metrokredit and, CashWagon and the largest chunk is Dinero. wp.me/aawp6t-3PIt's worth checking whether these originators pay interest for the late period. Specially for such short term. GetBucks and Dinero don't.
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Post by hugoncosta on Mar 24, 2019 10:00:25 GMT
Do be careful with the short term companies. Some of them do not offer interest on late payments (Dinero), while some have stupidly large grace period. You do not get money on the days of grace period, so it's rather stupid to invest on companies like Dozarplaty, which have 15 days of grace period.
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Post by InvestingInP2PLending on Mar 24, 2019 19:31:05 GMT
All have buyback guarantee and the lenders are GetBucks, Kuki.pl, Varks, Metrokredit and, CashWagon and the largest chunk is Dinero. wp.me/aawp6t-3PIt's worth checking whether these originators pay interest for the late period. Specially for such short term. GetBucks and Dinero don't. Thanks, I will definitely update my auto invest strategy to adjust for this.
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david42
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Post by david42 on Mar 27, 2019 20:08:03 GMT
... You do not get money on the days of grace period ... What is your evidence for that statement?
I have just checked a short term loan that was repaid 7 days late and I did get interest for the 7 days.
Loan provider CreamFinance Denmark. CreamFinance Denmark has a 9 day grace period.
03 Sep loan purchased for £92.45 10 Oct loan repaid for £92.45 10 Oct interest income £0.83 published interest rate 9% achieved interest rate 8.8% if the interest had been paid for only the 30 days of the loan, I would have expected only £0.68 in interest.
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benaj
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Post by benaj on Mar 27, 2019 20:46:11 GMT
... You do not get money on the days of grace period ... What is your evidence for that statement? I do have a little bit on Dinero. Grace Period policy is 0 days. However, No interest income on delayed payment. Loan purchased on 09.03.2019 Loan part: 18 EUR Loan duration: 6 days Interest rate: 13% Paid on the 18.03.2019 (3 days late) Repayment: 18.04 EUR Expected interest for 9 days 0.06 EUR SIA Creamfinance lativa does not pay interest on delayed payment, but the other creamfinance do. XIRR on all my completed Dinero loans is 11.16% vs average headline Dinero rate 12.87%
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