The exact financial charges by the loan are not demonstrated, and it is often tried to turn on expensive loan assurances the customers who are not necessary and are not welcome. In a case the insurance costs would have raised the actual load on 23 percent of the loan sum.
What helps against it: Several loan offers catch up and compare in rest at home. If you are unsafe to yourselves about the detailed obligations, you can present the contract text also to independent consumer organisations to the check. During the consultation you insist on the fact that to you all conditions of the contract are specified and are explained understandably. A consultation which lasts only ten minutes is a bad service. At the same time you should carry out an installation of your monthly income and issues to determine from it the income available for the loan rates. In it you can orient the possible height of the monthly repayment rates – these should be attached as low as urgently and so high as possible.
The conditions to which the loan is taken out should be written and clear unmistakably, the offer. The actual annual interest, the rate height and the exact term is the most important information. However, the offer must point to all costs which result for the loan. Only in the total sum of the loan you can read all costs which originate to you from the loan admission – and which make decision whether you can afford the loan and want.
Beside the interest handling charges and insurance premiums can result. These are whipped as a rule on the loan sum and are paid interest this accordingly with and are paid back.
The interest should be established for the whole term of the advance – just as the whole interest sum and the height of the monthly rates. With variable interest rates this does not go, because the interest and with it the final loan costs is not certain yet. Thereby is the danger not to be able to pay the rising month rates sometime any more, greater. Hence, with loan offers with variable interest rates special care is offered.
Also the interest will higher lie just with especially favourably appearing offers as a rule than in the advertisement announced. Most banks make the interest rate which they offer to you, from your financial relations dependent. Therefore, the pure comparison of the interest rates is not sufficient in the advertising offers. Before you visit a bank, enquire after the at the moment market-customary interest rate. If the offered lending rate amounts more than the double of the usual interest rate, speak lawyers of loan usury. Which interest rate is valid in each case as market-customary, can be asked with the consumer headquarters. You should on no account be pushed for the immediate end of a loan contract if the interest rate offered to you lies substantially higher than in the advertisement given or already in the area “Usury” is to be settled. With tips such as “with your financial relations this is the best offer, you access immediately!” if the advisers themselves lose all credibility. A good adviser or a good adviser assumes from the fact that you obtain several offers and will not exist on an immediate end.
In principle it is recommendable to hold the term short, because thus the interest sum decreases. Indeed, you should consider – ideally also in the consultation with the bank – exactly which monthly load you can expect of yourselves without endangering the loan repayment. If you must claim constantly your Dispo because of too high month rates, are more expensive anyway than a longer rate credit period and with it a little make sense.
Handling charges and commission fees
Handling charges result at every bank. They are financed together with the loan sum. By the end of a loan contract about a loan mediator should be always roofed that the mediator does not work free of charge. For his work the additional costs which are whipped on the loan sum still result.