How to apply for the Best Online Loans?
Are you looking for the best Online Loans and do not know which one is the most convenient? Most of the employees and retired workers who come to us are suffering from bad experiences. The thing that makes you think is that it is usually the large lenders to leave some discontent in them. In fact, we note that the lack of clarity of many “professionals” in the sector is unprofessional.
We will clarify these 5 basic points :
- What are the differences between TAN and APR ;
- The false myth of the zero rates;
- What are the hidden costs of the Personal Loan ;
- How to choose a mortgage carefully ;
- Apply for a loan even when reporting to the CRIF.
What are the differences between TAN and TAEG?
The TAN (Nominal Annual Rate) is the interest rate that applies to a loan, or the extra amount that will be returned to the Bank or Finance at the end of the year, accrued on the amount received. At TAN you will have to add some expenses, that is, the costs of the practice, insurance, and stamp. The TAN with the expenses listed above form the APR. The latter provides a single indicator that makes the convenience between two estimates simple and immediate, the one with the lowest APR will be the most convenient loan. We always recommend our customers to make sure of the actual cost by comparing the APR, avoiding unpleasant surprises later. Read the full article on the differences between TAN and TAEG!
What’s true in the Zero Rate?
In the Consumer Credit (Personal Loan) that usually offer auto dealerships, we find this mysterious zero rate. What is this rate really? Let’s start by explaining that there will never be a zero-interest loan. Where you find this type of advertising slogan, you will pay for the product you would like to buy at a higher figure than on the market or as explained in the previous point, the TAN will be at 0 but the APR will be at a much higher figure. To avoid unpleasant surprises, we recommend to our customers the financial product Cessione del Quinto, with fixed and monthly deductions on the paycheck or pension or otherwise another type of clear and transparent financing.
What are the hidden costs of the Personal Loan?
Personal Loans are in great demand due to the speed at which they are delivered.
The costs to which almost nobody dwells are:
- The payment costs of the bulletin;
- The costs of collection and those for periodic and mandatory communications (which in any case are paid);
- Any extinction expense ;
- Costs related to credit insurance.
So pay attention at all costs that you may not need and evaluate if you can avoid these expenses, you can also change the type of financial product if you were not convinced.
How to choose a mortgage carefully?
Mortgage Loan is a form of financing that usually takes to buy a house. This type of loan requires a mortgage on a property and a guarantor, the reimbursement will instead occur in installments of a constant or variable amount, usually monthly or half-yearly. Mortgages are divided into mortgages with constant installments and mortgages with variable installments, we immediately discover the differences. Mortgages with constant repayment are suitable for those who have constant income and want to plan in advance the amount to be paid to the bank. The fixed rate even if on the first impact may seem higher than the variable rate, guarantees greater security precisely because it is not subject to market changes. The variable repayment loan, unlike the previous one, is designed for people who can bear a significant increase in the monthly payment or who have expectations of income increases. In this case, the initial rate is lower than the fixed rate, but, precisely because it is variable, it can increase based on the performance of the financial market.
Apply for a loan even in the presence of reporting to the CRIF?
To request a Personal Loan with reports to the CRIF, it will be necessary to verify the cancellation, as the credit reputation of the client must be “clean”. The real advantage is given by the Cession of the Fifth, as it allows to operate also with reports, foreclosures, and protests. The installment, being held directly in the salary or in the pension, will not require any guarantor, the only guarantee required will be the paycheck or the pension. In conclusion, through Cessione del Quinto, you will not need to obtain further guarantees and your credit reputation will not be assessed. On the contrary, with the Personal Loan, you will have to give the necessary guarantees to support the repayment and as we have seen in the previous points, you must also have a good reputation with the banks. Find out how to get the best loan to reported CRIF!