The trend towards online credit is evident in the credit sector and can also be seen as the future when it comes to borrowing. Hand in hand, the number of loans taken out online is increasing. Credit calculators are available on the Internet, a welcome tool for finding the best loan for yourself.
As simple as the online comparison calculator is, you should still pay attention to a few things. In the following you will learn what is important.
With lucrative offers to attract new customers, both branch banks and an ever increasing number of direct banks are vying. Nevertheless, the large number of credit providers, eg B. in the terms of the contract, terms, processing fees or interest payments, sometimes too big differences.
For this reason, an online comparison of the various offers always pays off for the borrower.
Before you start looking for a loan, some preparatory measures are necessary.
There are a few things to look out for before you compare your loan
No matter what type of loan it is, before taking out a loan, a solid and factual comparison of the receipts with the monthly expected loan costs in the form of a household account is essential. This is the only way to protect yourself from nasty surprises and find out how high the loan rates can be.
Because after all, too
- rent payments
- current loans
- Car and
- various other household costs (electricity, gas, water)
Quite apart from the fact that such statements are usually required by reputable lenders to check customer creditworthiness and to minimize their own risk anyway.
An important point in the overall calculation is the availability of short-term cash reserves in order to be able to pay for unpredictable repairs (car, washing machine, etc.) and essential purchases.
The way to the dream loan
Once the money available for the repayment of the loan has been calculated, you can use this financial basis to search for a suitable loan with the help of a loan calculator.
In addition to the obligatory budget bill, borrowing requires a number of other preparatory measures. This saves both the borrower and the credit intermediary time and nerves.
It does not matter whether the loan is requested online or at the branch.
Depending on the terms and conditions of the credit institution and the type of loan, the following documents may be requested and should therefore be readily available:
- Photo ID
- usually at least the last three salary slips or an annual wage slip
- Collateralization in the form of life insurance, savings books, building society contracts, land register excerpt etc.
- Documents or applications for possible funding
Although some direct banks grant loans even with poor creditworthiness, you are sometimes sometimes well advised if you can still look forward to a guarantor or provide other collateral.
The advantages of an online loan comparison
A great advantage of using an online loan calculator is that it is available at all times. The customer is therefore not tied to opening times and also saves the way from one bank to another.
In comparison to personal and lengthy consultations on site, the results of an online loan comparison are also available in a matter of seconds and can be compared in peace.
To get a serious overview of eligible loans, you should compare at least five different offers with a loan calculator.
An offer that appears to be cheap at first glance does not always have to be the best. Since there can be large differences in the processing times for loan applications from the various providers and many loans are usually required at short notice, the time of application also plays an important role.
Once the decision for an offer has been made and the loan application has been made, there is no need to wait long for a response from the financier.