Need a loan? Just compare! The cheapest offer right here!
As a young self-employed person you think it’s time for a car. And as a father you need a larger car, because there will be family expansion. Or maybe it’s just a good idea to replace your old car; the repair costs for your elderly container are starting to become very expensive. Fortunately, the time has passed that you have to save for years to purchase a car; nowadays you can take out a loan. As long as you have an income, you can immediately enjoy your new wheels.
Did you know that there can be many differences between the various loans?
And this does not only apply to the example above. Whether you buy a house or need a new freezer, every money provider has its own rates. This means that you have to plunge into the internet to find the cheapest providers. So you have to compare your loan. Because we know that you are busy, busy, busy, you can already find a list of the cheapest loans here.
There are a number of factors that you should take into account when you borrow. First you make a calculation of your income and expenses. Expenditure includes everything that you have to pay, such as water and electricity, insurance, food, rent, gas costs and so on. This also includes things that you cannot hear outside. For example, think of sports and hobbies. Once you know what you are left with, this can be your loan amount. But beware: there are some costs.
A provider also has to eat, so you will have to pay something to receive a loan. But of course you prefer to pay as little as possible; The cheaper the loan, the more money you have left at the end of the month. You can compare your loan by first looking at the annual percentage rate (APR); This is the annual interest that you pay plus the borrowing costs. The lower the better. Even a minimal difference can save hundreds or even thousands of euros at the end of the ride – depending on the loan amount and duration.
The latter – the term – also has an effect on your monthly payment.
It is best to pay off the loan as quickly as possible, but a home loan is usually taken out over a good number of years. You do have to have room to live, so sometimes it’s better to pay a little longer. It is therefore completely dependent on your personal situation. Also check the provider’s license; the Belgian government gives licenses to reliable lenders.
You can compare your loan with the help of loan simulations. Almost every money provider has this tool on its website, and you can use it for free. You can perform as many simulations as you want. In this way, a good picture is created of the differences in monthly repayment. This way you can quickly see who offers the best rates. So sit down and take out the cheapest credit.