If you want to choose options to loan money, you better have your research together because it makes all the difference!

December 1, 2019

If you want to choose options to loan money, you better have your research together because it makes all the difference!

Taking out a loan often means entering into a commitment for several years. It is therefore possible that the loan has been taken out at a high interest rate, while the current interest rate has fallen sharply in the meantime. Or that you are eligible for a lower interest rate because, for example, you have started to earn more. In that case, it may be advantageous to take out the loan at a lower interest rate. Offcourse, lenen zonder bkr toetsing can be an excellent option, but you have to be smart about this and do your research accordingly.

1. Only borrow money if it is sensible, necessary or profitable.

Lending money costs money! In order to pay the interest and repayment of the loan, there must be income. For example, from a (permanent) employment contract. Part of your total income will therefore be used to pay back the loan. It can take years before the loan is repaid. Before a loan is taken out, you will have to think carefully about the total cost of the loan. It is wise to only borrow money if there is no other option or if the loan is used to generate money with it. For example, if you need a car as a condition of getting a job.

2. No borrowing from family or friends.

It is often very cheap to borrow money from family or friends. However, this is often not wise. Problems with repayment can lead to irritations that do not benefit the friendship and/or family relationship. Borrowing money is therefore best done with a reliable lender. Via different creditors you can request an offer to discover your possibilities.

3. Read the terms and conditions carefully.

A loan seems to be a simple financial product. But the associated conditions can be very complicated to understand. The principle is simple. For each loan from the lender, a fee is paid in the form of interest. Also, the debt, with the interest, must be repaid within a certain period of time. Nothing more and nothing less. Nevertheless, a careful review of the conditions is certainly recommended. If the conditions are not (sufficiently) clear, always ask for an explanation until it is clear!

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