We have talked here about fast loans, also known as easy credit. Here we detail the advantages and disadvantages that can have them. Among the advantages are fast hiring, a simple procedure, a maximum repayment period of 60 months and an amount of between 500 and 6000 euros. In terms of disadvantages talked about the high cost involved and the possibility of requiring the client to the recruitment of additional products such as insurance, credit card etc.
Today we will talk about the advice offered by the association of consumers when applying for a loan of this nature.
1) Know the real interest rate that is credited with making the credit granting financial reporting of SAD usually monthly but rarely bother to explain to customers the annual APR. This is often between 20 and 25%.
2) Apply for a short repayment period. As with mortgages, the more you extend the repayment period the customer will end up paying more in interest.
3) Since it may require the purchase of insurance or credit cards, it is advisable to know all the conditions of the loan in advance to avoid unpleasant surprises to formalize it.
4) On loan online is important that the customer has the contract before signing it in order to meet the conditions. In turn, you can also cancel the credit for the first 14 days without penalty, at least according to the law.
5) Although credits are treated as remarkable for its ready access to the amount requested, the truth is that credit is obtained from 24 to 48 hours after signing the contract, which is not the 24 or 48 hours after the first call as often this kind of financial advertising.
6) Finally, it is important to know whether these companies have a physical center to the public. Many of these companies operate via mail and have no obligation to answer a mail to 2 months, hurting the client if, for example, would cancel the credit in the first period.
Posted in 
Tags: