Who does not know that: An unforeseen repair of the car becomes necessary, the washing machine suddenly strikes, or the long-planned vacation is much more expensive than originally calculated. Installment loans are becoming increasingly popular as a means of financing. There is a reason for that. While in the current period of low interest rates the savings hardly generate a good return with high interest rates, the interest rates on borrowings fall.
As part of the credit check, the lenders always obtain credit record information about the prospective loan. A positive or neutral entry is mandatory for lending.
Nowadays you have the opportunity every day to get an overview of the current interest rates for the desired loan on the Internet. As a customer, you benefit from the increased competitive pressure that banks are facing. A loan comparison is offered by many online portals. The appropriate offers will be presented to you in a matter of seconds and you have the choice to make your selection based on personal criteria such as term, effective annual interest rate or fixed interest rate. Comparison sites like MoneyMarkt Finance provide valuable help.
You can use an installment loan for a wide variety of purchases
With this funding, a new television is just as quickly at hand as buying a new vehicle or installing a new kitchen in a family home. At the end of 2011, FFH financial market research found that one in four private households regularly takes out installment loans to finance consumer goods. The income classes are irrelevant. According to their own information, about 25 percent of all borrowers could also pay for the financed goods in cash, but prefer an installment loan in order to remain financially flexible.
The installment loan is particularly popular with high-value goods
A trend in recent years shows that Germans are also increasingly using holiday loans to satisfy their longing for distant travel destinations. Online loan providers offer consumers great advantages. The application is conveniently filled out at home, sent immediately and after a credit check, you will usually receive a notification within a few minutes as to whether the loan application has been approved. The contract is handled discreetly by post and often saves long journeys.