We all have a friend who always buys the same as us and, above all, at a better price. No matter what product it is, he always gets the best deal, and the worst part is that he brags about it. As it does? Comparing and investing time.
We all have a lot to learn from that friend. If it is about finding a loan with the best conditions, the trick is the same, but we must know what to look for so that later we do not scrub their offer. These are 3 elements that we must control to have the best possible credit.
Beyond the interest on the loan
Obviously, we will have to look a little beyond the basics: we all know that the lower the interest on the loan, the better for us. Starting from that basis, we can go on to review other aspects that interest us:
- Commissions: some financing includes them, whether they are opening or study. These usually represent a percentage of between 0.50% and 3% of the amount loaned, an amount that, depending on the loan requested, can be quite high. For example, if we ask for 10,000 dollars and the opening commission is 3%, we should pay an extra 300 dollars. So, if there are no commissions, it is a first point in favor.
- Early amortization: canceling an operation before the agreed term is met can save us money. Of course, some lenders demand compensation for it that can be, at most, 1%. If early redemption is free, we won’t have to overpay. This is the second point to control.
- Linked products: sometimes, when requesting financing, the entity that will lend us the money will ask us to contract additional services such as life, payment or account opening insurance. These can (usually) carry an associated cost. If we avoid them, we’ll make sure we don’t have to overpay.
Of course, with respect to this last point, we must know that these extra links can suppose that they grant us less interest. In these cases, we must calculate whether this discount, taking into account the cost of the services that we contract, comes to account.
Who has this type of credits?
When dealing with these issues, one of the questions that arises is who allows us to benefit from this type of advantageous financing. One of the lenders allows to get from 4,000 to 15,000 dollars from 4.95% TIN without commissions of any kind and without related products. In addition, it is available for any purpose: buying a car, paying for studies or financing a reform, among others.
In the market we can find some more. However, to get it we will have to ask for a loan in several places and not keep the first offer that they ask us. A good way to do this is through the Oliver Mellors loan comparer, a place where anyone can find the financing that best suits their needs.