Debt car loan – Take out a car loan

Posted on March 1, 2020June 11, 2020  Leave a comment on Debt car loan – Take out a car loan

Car loans can be very expensive and can be a heavy financial burden. Anyone who chooses a new car from a high-class brand will surely leave the car dealer with USD 20,000 to USD 60,000. Of course, many want a luxury car, but very few can pay for it in cash and without outside help. If you have taken out a car loan, you are not alone.

Depending on the length of the term and the interest charge, it can be worth the debt rescheduling. This gives you the opportunity to repay your car loan faster or to extend the term. With a debt rescheduling loan, cheaper interest rates are also a matter of course – after all, you want to improve the conditions and not worsen them.

Debt car loan – how does it work?

Debt car loan - how does it work?

The term “debt rescheduling loan” sounds much more complex than it actually is. If you choose to reschedule, simply take out a new loan to repay the old one in full. Of course, borrowing creates new liabilities that you have to meet every month. It is important that the debt rescheduling loan has cheaper interest rates and more favorable terms than the old loan.

This is the only way to repay the expensive car loan. A really beneficial loan can save you hundreds of thousands of dollars over time that you would otherwise have spent on interest.

The best debt rescheduling loan

The best debt rescheduling loan

Before you reschedule your car loan, you should review your economic situation. Do you suddenly have more money at your disposal? Then you can choose a shorter term and thereby drastically lower interest rates. If you are currently experiencing financial difficulties, it is possible to extend the loan term and thereby reduce the monthly installments. To find a good car loan, you should do a comparison online.

There are now many different online banks that offer debt rescheduling loans on favorable terms. Simply enter the required data in the comparison calculator and let yourself be surprised by the result. Of course, you can conveniently apply for the debt rescheduling loan online. Time-consuming correspondence and long waiting times are a thing of the past

Mortgage loan with tax bonus for young people 2019 – overview of banks

Posted on February 6, 2020  Leave a comment on Mortgage loan with tax bonus for young people 2019 – overview of banks

The mortgage state contribution to young people changed in 2018. For 2018, clients will already claim a direct tax bonus. Learn how to proceed with each bank.

In 2017, there was a significant change in the provision of support to young applicants for a mortgage loan for housing. I wrote an article about the whole issue.

This was one of the first articles on the subject when it was not yet clear whether the change would really go through. In addition to the prepared changes, I also devoted to detailed calculations and comparison of the original model with the new model.

Changed to a tax bonus

Today we know that the state contribution for young people has finally changed to a tax bonus from 1.1.2018. For the first time, clients can apply it now – for the 2018 tax period.

Let’s remember what clients must meet to qualify for the tax bonus:

  • age up to 35 years
  • income up to 1.3 times the average wage in the Slovak Republic ascertained by the Statistical Office in 2017 (it is approximately USD 1240)
  • the purpose of the loan meets the conditions of the tax bonus, ie it is a mortgage for housing, construction or reconstruction (not an American mortgage or refinancing)

You can see more about the tax credit and the current conditions for mortgages for young people in the report by Marisa. 28.12.2018 was broadcast and I had the opportunity to add my comment.

The whole topic has been elaborated in detail on the Internet. What you might be interested in is the individual banks and the way to proceed. So I decided to map the situation in detail and give you an overview. The information was consulted with the banks.

Cooperative Bank

The Bank shall issue free of charge to the client – principal debtor – Confirmation of interest paid, the structure of which is prescribed by law.

The bank will issue a confirmation for each loan that meets the conditions of age and purpose for claiming the bonus and will send it to the client by mail to its correspondence address .

Honest Bank

From 2.1.2019, the DEBTOR eligible for TAX BONUS may ask the Bank to issue a Confirmation for interest paid.

The Confirmation will be issued to the Principal Borrower on the basis of a written Application submitted at a bank branch within 30 calendar days from the date of submission of the Application.

In the Application the Borrower shall also specify the method of delivery of this Confirmation:

  • BY POST to the correspondent address of the client
  • PERSONAL at a selected bank branch

Confirmation of interest paid is issued once a year free of charge.

cash

The Bank will automatically issue the Confirmation form free of charge to the Internet Banking (IB) mailbox of the principal debtor. If the principal debtor does not have an IB, the Bank shall also send the Confirmation by post to the correspondent address of the principal debtor free of charge. Confirmation will be generated automatically annually – current as of January 15, 2019, only for standard mortgages.

If this document has not been sent to the client, the client must apply for a Confirmation at the branch.

GFI Bank

The Bank is exposed to free the debtor at his request proof of payment of interest on an award of tax relief on interest paid, which represents an amount equal to 50% of interest paid in the fiscal year, with a ceiling of 400, – USD per calendar year.

What to do with the confirmation and what to forget?

cash

Provide the confirmation from the bank to your accountant, who will solve your tax return for 2018. If the employer processes it for you in the form of an annual tax settlement, hand over the confirmation (or its scan) to the appropriate department.

Note that if you are in loan two, only the main debtor can apply for a tax bonus.

For 2018, you will receive a tax relief calculated in proportion to the month in which you took out the loan. Finally, the tax relief will be calculated on the interest paid on the loan up to a maximum of USD 50,000. If you have drawn a higher loan – do not mind. However, half of the interest paid will only be refunded from USD 50,000.

Operation Credit | Apply for a loan

Posted on December 29, 2019  Leave a comment on Operation Credit | Apply for a loan

Statutory health insurers are performing less and less. Operations are not always paid for. For example, if you suffer from overweight or want to have your teeth straightened, you have to pay for it yourself. Even the insertion of a gastric band and laser treatments on the eye, just like all cosmetic operations, are not financed by the health insurance companies.

The quality of life nevertheless suffers, even if this is no reason for the health insurers to intervene. If you want to change something but cannot afford it, you need a loan for the operation.

Conditions of a loan for an operation

Conditions of a loan for an operation

A loan for an operation usually has a higher interest rate than a home loan. An interest rate of 3.45 percent is already very low, some banks even charge up to 13.13 percent interest. That always depends on the term and of course the loan amount. It is worth making comparisons and not immediately accepting the first offer.

You should also ensure that the agreed interest rate will remain low in the coming years. Loans are possible from a sum of 1000 USD up to approximately 50,000 USD. In rare cases, loans of 80,000 USD and more are granted. In any case, proof of income must be presented to the bank, and usually the creditworthiness is also checked.

Only then can the bank decide whether and to what extent a loan is granted. Most banks have a term of between 12 and 120 months, although the latter is only possible with particularly high loan amounts.

Where can you apply for a loan?

Where can you apply for a loan?

You can now often apply for a loan for an operation directly on site, i.e. in the laser centers, at dental practices and in other institutes where operations are performed. But even if that’s the easiest solution, it’s not always the best. You should definitely ask other independent banks and compare the conditions – especially the interest rates.

Of course, some may find it difficult to inquire at the house bank about a loan for breast augmentation. But many banks issue free-use loans and don’t ask exactly what the money is actually used for. There are also many online banks with attractive conditions. There is no personal face-to-face contact.

Car loan without bank statement – without problems – of course

Posted on December 16, 2019  Leave a comment on Car loan without bank statement – without problems – of course

 

If you already have many financial obligations, you can still take out a car loan without a bank statement.

Account statements are often checked

Account statements are often checked

The account statement is checked at many credit providers. Third-party banks in particular often use this source of information. The lender wants to look at the finances. If the account is often in the red, it will be difficult to apply for the car loan. Garnishments can also be seen there. An application is rejected for this negative factor.

However, the customer does not have to provide his account statements everywhere. The credit bureau can also be checked, where entries also reveal enough about the finances.Therefore, when applying for a car loan without a bank statement, the customer should pay attention to providers who do not require them.

credit bureau important factor

credit bureau important factor

One of the most important factors in checking creditworthiness is credit bureau, which does not say everything about the financial and professional framework.

It is important for the lender to find out how likely it is that the installments will default. If the score is so low that a failure must be feared, no car loan will be issued without a bank statement. The customer can ensure that the score improves. To do this, he first has to look at which entries are available. These can possibly be deleted as soon as they are paid for. Registered reminders also disappear from the credit bureau after payment.

Incorrect entries can also be present. credit bureau must delete this immediately. The credit bureau updates itself after three months, so that a new application then makes sense. If this is not possible, the borrower should also offer other credit protection.

Auto finance with two borrowers

Auto finance with two borrowers

It is not uncommon for a car loan to be taken out with two borrowers without a bank statement. People who share the vehicle can also take out a car loan without a bank statement. The bank checks both borrowers for their creditworthiness. This includes not only the credit bureau, but also the income. Ideally, both have a salary, one of which must be above the garnishment exemption limit. So both salaries can be calculated together.

The bank does not only have a guarantee that the loan default is very low. This allows borrowers to raise a higher sum and achieve low interest rates. The credit agreement must be signed by both. This means that both are obliged to do everything to ensure that payment in installments runs smoothly. Payment in installments can be made from any account. The second borrower transfers half to the account of one borrower.

With a shared account, the additional transfer is not necessary.

Car loan without bank statement – guarantee

Car loan without bank statement - guarantee

Instead of a second borrower, a guarantor can also secure the loan request. However, only if the guarantor has a good credit rating. Here too, the credit bureau and the income are important when making a decision. The guarantor only has to pay the remaining debt if the installments are not paid.

Should the borrower become unemployed or fall ill long enough to lose his salary, these are some examples. In such cases, the guarantor has to step in. He is liable for the car loan with all his assets. If the guarantor also becomes insolvent, a garnishment of wages will be issued. If you want to secure a loan as a guarantor, you should think twice.

The loan amount should not be too high. This means that there is very little chance that the guarantee will lead to actual liability.

How to avail Credit for vacation?

Posted on December 4, 2019  Leave a comment on How to avail Credit for vacation?

Vacation trip to run as smoothly and relaxingly as possible

Vacation trip to run as smoothly and relaxingly as possible

In order for a vacation trip to run as smoothly and relaxingly as possible, planning should always be carried out before the start of the vacation. Depending on the type of holiday trip, not only are considerations regarding the travel routes or the provision of food necessary, but above all an exact planning of the holiday budget. Almost everyone who has already traveled knows the unpleasant experience that the costs and expenses at the holiday destination far exceed the previously calculated budget.

Therefore, it is generally advisable before each trip to be able to dispose of an amount of money during the holiday stay that you can be sure of not having any payment difficulties. In order to enjoy a well-deserved vacation without worries, financial planning should therefore be carried out months in advance. If, after detailed planning of the budget for the holiday, you come to the conclusion that the planned money is not sufficient, there is still enough time to apply for a special loan for the holiday. If the application is made early enough – usually 3-4 months for the start of the holiday – there should be no friction in the period of the loan and the booking or the start of the holiday.

Play it safe with credit for vacation

Play it safe with credit for vacation

In order to be able to go on vacation calmly and calmly without constantly having to fear that the vacation budget could be too tight, a previously applied for vacation loan is recommended. The special credit for vacation is not only recommendable for every traveler if you already have money for flights and accommodation – as a kind of security – but is also the only way for many people to be able to afford a vacation at least once a year , With an extra credit for vacation you don’t have to save for months or even completely do without the annual vacation trip. A well-deserved vacation can also be started if there is not enough money. A long-awaited trip or a well-deserved relaxing vacation does not have to remain a dream that is far away.

You can even apply for a vacation loan online on many websites. All you need to do is provide some personal information and monthly income. The feedback from the credit company about the approval is relatively quick as an email message.

Loan for the self employed person

Posted on November 17, 2019  Leave a comment on Loan for the self employed person

Unfortunately, banks mostly do not give loans to the self-employed quite as easily as to private individuals who can demonstrate a fixed income. This has to do with the fact that the banks lack the security of regular income, as can be demonstrated by workers and salaried employees who work in dependent employment. The banks are not interested, and if only marginally, that the income of a self-employed person can be significantly higher.

It is often the case that banks do not offer a loan for the self-employed from the outset, because the effort to process the inquiries from the self-employed and the credit default risk is too great.

If the self-employed want to take out a loan, they have to spend a lot more time and patience than a private individual to actually get a loan. If you then find a bank that also offers credit for the self-employed, you usually have to live with the fact that this loan is granted on poorer terms with higher interest rates.

Why it is so difficult for self-employed people to get a loan

Why it is so difficult for self-employed people to get a loan

Loans offered by banks today as instant loans are mostly standardized banking products that are processed automatically using a standardized procedure. If the bank receives a loan application, the customer’s private credit checker information is automatically drawn, the economic performance is determined in the context of the budget calculation and the scoring procedure is used. In many cases, bank employees no longer have to interfere in this process. If the creditworthiness is appropriate, even the credit decision is made by the system.

However, the whole process only takes place for credit inquiries from private individuals who can prove a regular income. Credit inquiries from self-employed and freelancers are still processed manually today. This costs a lot more time and money because some other information, such as a bank report and / or a business report, is also obtained from a credit agency.

At many direct banks, the workforce is so low that the necessary capacities are not available. In addition, it does not pay off for many banks to employ more staff because of this. It is simply not possible to offer efficient and cost-effective credit for the self-employed in the first place.

How self-employed people can best get a loan

How self-employed people can best get a loan

The few banks that grant loans for self-employed online include the Hamburg-based Netbank and Barclaycard. The DKB is also open to some self-employed people.

There is a high probability that the self-employed who are creditworthy will get their credit from the banks mentioned or from a credit brokerage company. Self-employed persons have to submit a current BWA and their last income tax assessment in order to prove their income. In addition, banks that lend to the self-employed often obtain bank information from the self-employed bank and order information about the company from a credit agency.

Travel credit – Where to get it

Posted on November 10, 2019  Leave a comment on Travel credit – Where to get it

When the weather is bad, just go out into the sun, that’s what many people who stayed at home want. Even if the weather is good, many would like a change of scenery. Out of everyday life, out to sea or in the mountains, see other cultures, other countries. This is the case for many people who are on vacation but stay at home. Why not travel spontaneously? Low tide in your wallet? Current account in the minus, overdraft limit? No problem with travel credit.

Travel credit-Carefree vacation guaranteed

Travel credit-Carefree vacation guaranteed

The loan is quickly applied for, whether at the bank counter or what is easier and more effective on the Internet. Luckily, to the beach or the mountains in just a few clicks. The credit for travel offers the opportunity to relax and to face the new everyday stress again with new energy. There are enough last-minute offers, so the trip is still possible spontaneously, if you only want to travel later, you already have the opportunity to take out the credit for the trip and thus secure future vacation joys. Long-awaited wishes such as a trip around the world, a vacation in the Maldives or in Australia, everything is now easily possible with the credit for travel.

Quick and easy

Quick and easy

The approval is quick and easy, the application can be carried out so quickly that it takes no more time than buying a ticket at the airport counter. It is also good if the loan is planned in such a way that enough money remains during the trip, i.e. the amount of pocket money is so high that carefree holiday fun is possible in addition to the actual travel price. The travel loan is the simplest and often the cheapest way to fulfill the long-awaited travel request. It is particularly easy to choose the loan with a term of 12 months, then the loan is paid off when the next trip is due.