Cashare loans customer experience

Have you ever gotten a loan from Cashare? What was you customer experience at this lender like? Would you recommend Cashare?

Hi there, Cashare is a peer to peer lender. You can compare personal loans using the moneyland.ch personal loan comparison.

I have experience with P2P lending in Germany. As an investor, you should always ask yourself why borrowers are willing to pay more for a loan from you than they would pay for a conventional loan. The interest rates which consumers pay for P2P loans are not necessarily better than those of conventional loans, and they don't have to pay additional fees like they do with Cashare.

Hi to all,

I’ve been following this forum and I thought I would share my experience with Cashare.

Firstly, anyone who is even considering P2P lending should understand that there is some amount of risk in lending your money to strangers (or to friends, for that matter). This is especially true when you only invest in a handful of loans. It should be obvious that some borrowers can and probably will default. Spreading risk by diversifying your P2P lending portfolio across many different loans is a must.

It should also be understood that some borrowers will make payments late. That is to be expected. The question is whether the P2P platform takes immediate action to collect payments.

I’ve noticed that on CreditGate24, loans come in somewhat sporadically. Sometimes there are just a few new loan requests, or none at all. Sometimes tons of new loans come in at once. I kind of get the impression that a lot of loan applications are sold onwards and that the loans which actually appear on the P2P platform are the ones that no one else wants. That is just my observation though.

I’ve been actively investing with CreditGate24 for more than 2 years, but have recently lowered my use of that platform for the above-mentioned reason. I will continue observing. Often it is only possibly to buy many loans on the secondary marketplace. I think it’s great that there is such a thing as a secondary marketplace for P2P loans.

With Lend, the majority of loan projects are for refinancing, and I often wonder how some of these projects even make it onto the platform with those figures. I don’t invest with Lend, I just come across them through their advertising but don’t plan to work with another P2P platform for now.

Cashare is the platform which I have used for the longest. There are certain problems which have been around from the beginning – namely poor communication. It has taken a long time for them to up their act in that regard. Recently though, that has gotten a lot better and you generally get answers to your questions pretty quickly.

As far as returns go, this is what my P2P investment experience looks like:

• I have around 33,000 francs invested between 63 loans through CreditGate24. My net profit on these is 2.3%.
• I have around 58,000 francs invested between 113 loans through Cashare. My net profit on these so far has been 4.8%.

It takes some time before you can make a decisive statement as to returns. Of course, if you invest in too few loans, having a borrower default will hit you hard.