Soft loan

 

 A low-interest loan is the desire of anyone looking for their preferred loan. Cheap loan opportunities can depend on very different factors. First, the right provider must be found. For some loans, for example the education loan, government loan offers are unbeatably favorable in the interest conditions and credit terms. Nevertheless, not everyone can take advantage of these offers.

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On the one hand, lending is tied to a specific purpose. In addition, the circle of authorized persons is restricted. Schließifizieren—Ä rau on the loan. If, for example, you need 20,000 euros instead of the 7,200 euros offered in the education loan to achieve your educational goals, you have to look for alternatives. Interest rates may be slightly higher without government support, but the goal of education can be achieved.

Corresponding examples can be found for almost every credit application.

Use your own credit rating correctly

credit score

 

The amount of the interest rate is not only influenced by the selection of the appropriate provider. Personal credit standing plays a key role in interest rates. Personal creditworthiness can not be easily assessed. Each credit provider has its own strategy. In-house regulations determine the creditworthiness. A clue to the personal assessment may be the profession. Good credit conditions provide a long-term employment with a reasonably high pay.

Another indication provides the checking account. For people who get along with their money, the account is not even in the red at the end of the month. The Dispo is virtually broke, with a few exceptions. Another relatively safe estimate can be derived from the personal Infoscore, which can be requested for free each year. Many credit providers rely solely on information provided by the Infoscore in their credit rating. A low-interest loan is almost always closely linked to the Infoscore.

Do not be blinded by favorable interest rates

loan interest

 

Cheap interest rates alone, which are far from providing a really cheap loan offer. The actually concluded loan terms can be much more crucial to the cost of a loan than half a percentage point more or less. To conclude a car loan without the right of special payment could already be rated as “almost grossly negligent”. Car loans are often not paid until the end. A model change or another dream car entices to give the vehicle ahead of time in payment.

Only those who have a special right of repayment with recalculation of all costs, who really only pays the used share. Another nice example, which can make a loan extremely expensive without appearing in the interest rate, is the residual debt insurance (RSV). Voluntary insurance coverage does not have to be reported within the effective interest rate.

 

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