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If you are reading this, it means that you have already chosen P2P and are wondering how to do it. On iuvo you can choose to purchase by selecting the loans manually, as well as automatically by setting your own criteria with the help of filters.
In this article we will tell you more about purchasing of receivables manually – how to do it, what details to pay attention to, how to find useful data about the borrowers that will help you with your choice, and the specifics of secondary market.
What is manual purchasing of receivables?
Manual purchasing of receivables gives you the opportunity to take a closer look at each loan before you purchase in it. It works in the following way:
– Open primary or secondary market;
– Filter the loans by originator, expected annual return rate, score class, currency, etc., depending on what is important for your strategy;
– Press the “Purchase” button for a loan you want to purchase in. Keep in mind that the minimum amount for purchasing of receivables in one loan on primary market is 10 EUR, 10 BGN / 5.11 EUR. When you enter the amount you want to buy, click on the shopping cart symbol. There is no minimum amount for purchasing of receivables in one loan on secondary market;
– After successfully selecting loans and adding them to the primary market shopping cart (or the secondary market one), it is necessary to confirm the receivable. For the purpose, open the shopping cart tab and press “Confirm”.
It is good to know that the shopping cart gives you the chance to change your mind and to deselect some of the loans. You can also decrease or increase the amount you want to purchase in the loans.
What advantages does the manual purchasing of receivables bring you?
The Auto Assign on iuvo is the tool that makes this a Passive way to make your money work for you because you do not need to spend time every day to purchase your funds. Manual purchasing of receivables, however, gives you additional information about the borrowers, which can positively affect the amount of your receivables with regular repayments.
In the details of every loan you see valuable information about the borrower: monthly salary, years of work experience, education, age, etc.
It is also very useful to track the history (if there is such) of installment repayments. This is also possible to see from the details of the loans in the payment schedule, which shows you the due dates of all installments and what amount has been paid and when. A possible situation can be a loan that is late with 20 days but to see from previous payments that on the 30th of every month 4 installments are paid at once (for the 7-day installment type). This means that if you purchase in this loan today, it is very possible to receive expected annual return and principal payments for 4 installments in just a couple of days.
Specifics with purchasing of receivables manually on secondary market
Secondary market provides you with faster liquidity of your receivables on iuvo. Users sell their receivables to other users in order to get out of a loan faster. What opportunity does this give to the active users?
The bigger part of the loans on secondary market is already with a payment history and are no longer available on primary market. Such loans have a higher probability to be fully repaid and you can receive the expected annual return payments according to the payment schedule.
It is very important to pay attention to the price of the loans on secondary market. The percent you see in the “Discount/Premium” column can have a different color. Red means that the loan is on a premium price, set by the selling user, and it may not be a very profitable deal for you. If you see a green percent with a minus in front of it – you will generate an additional profit from the lower price. If you see only zeros in black – there was no change in the price.
This is why we advise you to filter the loans by “Discount/Premium (%)” and to enter 0 (zero) in the second box of the filter in order to see only loans on nominal price or with a discount.
Manual purchasing of receivables helps you get to know the portal easier. We have always recommended the Auto Assign because time is one of the most valuable resources. However, you can combine the two ways of purchasing of receivables in order to take advantage of the full potential of iuvo.
