Comparative loans

The next time you need money, you probably think about getting a personal loan or a credit card.

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Naturally, the main question revolves around which of the two is cheaper. Therefore, the comparative loans will be very useful.

A comparative loan is a help tool to calculate the cost of your monthly payments or personal loan installments and credits that you expect a financial institution and another, grant, depending on their amount, duration, prices and rates of associated products to the loan offered by each one. Thus, through the A comparative loans you will have time for reflection and measurement of the effect of the debt on your budget in the future, with a view to avoid an impulsive decision.

When making a comparative loan it can be seen that quick loans should be the last option, since the annual interest rates and the expenses passed on to the client are much more expensive in comparing loans with traditional loans granted by banks and / or credit unions. savings .

The advantages of making a comparative loans:

The comparison loans offer great advantages when contracting with financial institutions. In the case of the aforementioned quick credits, it is sufficient in the comparative loans of the APR (Annual Equivalent Rate) of the different products existing in the market to know which is more expensive overall. Making a comparative loans, it will be seen that today, quick loans can have an APR of more than 20% and traditional loans can be between 6% and 9%.

In the advertising of these products a relatively low monthly fee amount is always highlighted in comparative more expensive loans, presenting them as more affordable to attract customers. However, it should not be forgotten that this means that the loan will also be long term and, therefore, making a comparative loan , the final cost of the operation will be more expensive. It is advisable to request a binding offer to different entities in order to make a comparative loan and study them with confidence. All entities are obliged to deliver an offer with all the conditions of the operation, and to keep it in force for at least 10 business days.