With an instant loan, it is possible to take advantage of top special offers at short notice. about financing models for the used vehicle, but also about the right offers for the type of financing. Select offers and reads on immediately. Always on the specific offer, “says the report” Good Finance “.
Cheaper Credit – Price Comparison
Cheap loan of 2.78% – Such a statement sounds appealing and therefore an online loan offer with these interest conditions is also quickly called by borrowers. The little word “ab” is often forgotten, which already indicates that the rates are dependent on credit ratings. In addition, the effective interest rate, that is, the one that includes the total cost of the loan may be further increased.
A low-interest rate, which was used for advertising and is only awarded under the best conditions, is a “window rate”. This term results from the comparison with the cheap “bait offers” that the shops advertise in their displays so that the buyers visit the shop.
The consumer is thus also given a favorable credit proposal. Loans that are independent of creditworthiness are fairer because everyone receives the same interest rate.
The decisive factor is not the borrower’s creditworthiness, but the amount and/or duration of the loan. The interest rates dependent on creditworthiness are less suitable for a creditworthiness comparison since the individual customer does not know in advance what interest income he will receive due to his conditions. Although a comparison of offers shows which of the banks or credit intermediaries offers the lowest online interest rate, this is such a key figure that it is again uncertain.
Credit-independent interest rates
Such as those contained in the fixed loan, offer the consumer constantly and secured added value right from the start, which also makes the online loan comparison effective. In Germany, the window rate is legal, but the practitioners show that even the cheapest interest rate is set for the fewest borrowers since it depends on the creditworthiness.
Only a specific loan application from the house bank to the consumer, which is made after a credit or earnings check, contains the actually valid interest rate, which may be significantly inflated. Of course, the window rate is not excluded if the borrower has excellent creditworthiness. But since these are the exceptions and not the rules, a supposedly cheap loan can also be quite expensive.
The effective interest rate includes the total credit costs, which are also marked with a value range for credit-related loans. In general, other conditions should also be taken into account in a cheap loan.