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Purchase of loans for Houses.

Anyone who plans a larger purchase and would like to finance this by means of an installment loan, has in the search for a cheap loan offer first and foremost once the topic “Zinsgünstig” in the head. In times when interest rates are at historical lows, as is currently the case, this is synonymous with an increase in consumer spending. When consumer credit costs little due to low interest rates, the willingness of consumers to make purchases by taking out a loan also increases . This willingness to make a loan-financed investment is confirmed by the recently published Consumer Credit Index for the year 2017 of the Gesellschaft für Konsumforschung – GfK for short – which is compiled annually on behalf of the German Banking Association. The consumer credit index is interesting in that it analyzes in which areas of life German consumers are willing to take out a loan in 2017. All in all, more than half of the respondents plan to make a larger purchase within the next twelve months. But in what areas?

Home loans and home loans are in strongest demand

Home loans and home loans are in strongest demand

According to this, the demand for financing for relocation and renovation work in 2017, as in the past year, is rising sharply. Matching the new or refurbished apartment is also increasing the demand for loans for furniture and kitchens. Especially for household appliances, according to the index, a huge increase in loan financing is to be expected. The consumer credit index is forecasting growth of around 20% here. This means that around 9 percent more of the consumers surveyed may decide to take out loans for new household appliances compared to the previous year. It should be noted, however, that especially in the product area of ​​the so-called “white goods” consumers enjoy the so-called “zero-percent financing” of the retail trade despite all the risks of a constantly high popularity.

New car on credit still very popular

New car on credit still very popular

What is not really amazed is the constant high willingness of the German consumers to finance the new or used vehicle by means of a loan. The survey of consumers showed that in 2017, around 43% could opt for a car loan as part of a new car purchase. For the used cars, the value is still 34 percent. Compared to the previous year’s index, the forecast for 2017 shows a loss of 5% (new car loan = 48%). However, especially in the automotive sector, any forecast on credit financing should be treated with some caution, because, for example, the current DAT report for 2017 shows significantly different figures for credit-financed car purchases. The DAT Report expects a significant increase here.

 

 

Reasons for taking Loans} Easy way to get loans

 

Anyone who chooses to take out a loan usually has good reasons for doing so. Either a big purchase or you have to bridge a financial bottleneck. Sometimes you just want to benefit from better terms after a loan comparison and you owe existing debt. But even for Christmas, weddings and travel, some people use credit. However, these customers are clearly a minority in the DACH countries. So, what do German, Swiss and Austrian bank customers borrow most frequently?

Loans for car purchase lead in Germany and Switzerland

Loans for car purchase lead in Germany and Switzerland

 

German and Swiss citizens, according to representative polls, often opt for a loan to finance their car or a motorcycle. In Switzerland, 44 percent of borrowers use this option. In Germany, after all, every third. In Austria, the purchase of a car is only the fifth most common reason for bank customers to take out a loan.

Real estate financing and renovation loans ranked # 1 in Austria

Real estate financing and renovation loans ranked # 1 in Austria

In Austria, 64 percent of respondents say that they use loans primarily to finance a home. Thus, in Austria, the purchase of a house or a condo leads to the hit list of uses for borrowing. In Germany, real estate financing still comes in second place. Here, 25 percent of the borrowers have opted for a house construction or purchase on pump. About the same number of Swiss claim to use loans at least for house renovation or conversion.

 

Germans like loans for the interior

 

 Germans like loans for the interior Not only for the appearance of a home, but also for the inner life, the Germans like to take back on loan offers. Above all, of course, with major purchases such as new kitchens, 17 percent of German borrowers opt to borrow money from the bank. In Switzerland, the purchase of new furniture and interiors is also ranked third. There, 26 percent take out a loan for this purpose. In Austria, loans for one’s own wedding take third place.

Other reasons for taking out loans

 Other reasons for taking out loans Other common reasons for borrowing are cited in all three countries as a means of rescheduling and bridging financial bottlenecks . Shortly followed by pure consumer credit to purchase travel, consumer electronics and similar products.

In terms of credits, Swiss citizens are leading the list overall. Almost 85 percent of the population have therefore ever before a loan, a loan or financing availed. After all, around 50 percent of Germans have already taken out a loan in Germany and Austria.

 

 

Rules and Regulations for Loans

Anyone who enters the word “Kredit ohne Schufa” on the Internet will probably be surprised that around 591,000 results appear on his search request. No question, the credit without Schufa is one of the most wanted products respectively financial services in the German Internet. A huge market obviously, so it is here to use. No wonder, then, that with the slogan “Kredit ohne Schufa” apparently good money can be earned or earned on the internet. It is therefore also undisputed that there are quite a considerable number of consumers, which would not receive a normal installment loan at a regular house bank due to lack of creditworthiness or negative features in credit bureaus such as SCHUFA, InfoScore, Creditreform, Bürgel, etc. In addition, there are certainly consumers who, for whatever reason, do not want to risk entering Schufa or other credit bureaus when taking out a loan.

Great promises are often the rule for a loan without Schufa

Great promises are often the rule for a loan without Schufa

How well, then, that in the Internet, the already mentioned handsome number of professional service providers, in colloquial terms also called “credit intermediary”, with their corresponding offers for a “credit without Schufa” position. Potential customers are mainly attracted by the well-sounding words such as “unbureaucratic help, fast application processing, credit in 5 minutes, credit even in the most difficult cases, etc.”. All these, so excellent sounding descriptions for a loan without Schufa should make the customer above all one thing clear: Here one arrives fast, simply and without problems at cash!

Credit intermediaries are not always serious

Credit intermediaries are not always serious

But just as it is in a market where you can obviously make quick money, this very market attracts people who are just looking for a quick profit without even looking at a service under the aspect of credit without Schufa “in mind. But to make one thing clear and in all clearness: It is not about here a general suspicion against a loan without Schufa and their providers pronounce. Rather, the point is to show that especially in the credit market increased caution and quite a healthy dose of mind is to be laid and not to fall for every “big-flowered” promise. Which is basically not too difficult, because the tricks of dubious credit intermediaries are roughly the same. Knowing these tricks usually does not threaten to disappoint with the search for a loan without Schufa.

Mediator tricks on a loan without Schufa

Mediator tricks on a loan without Schufa

The most common tricks of dubious credit intermediaries are:

  • The mere submission of different loan offers should already cost money. Likewise, lump sums for alleged expenses of the agent are to be paid.
  • As so-called service hotlines only a costly service number is available. Here too, the credit intermediary earns a considerable amount.
  • Unannounced, personal visit to the potential borrower and the invoicing of so-called Personal Counseling Costs “- payable directly in cash or immediate transfer to the agent’s account.
  • Delivery of credit documents by cash on delivery. These documents then turn out to be worthless and obligate the credit intermediary to nothing at all. As a consumer, however, you have to pay up to 250 € for these, basically useless documents!
  • If additional products such as insurance, debt advice, financial restructuring concepts, etc. are to be concluded via the intermediary, here as well >> Stay away!

 

Editor: Markus Gildemeister

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