Whether you are a private person or a company, taking out a loan has significant consequences for your future financial planning. Since the credit usually runs over several years, the lender should be reliable and favorable.
Mostly one turns from habit, shame, lack of time or emotional connection with the credit desire to the house bank. However, this can become quite expensive over the years. Because, the house bank is rarely also the most favorable offerer at the market. A credit comparison is quite meaningful and saves unnecessary costs.
Before you decide, get a quote from several lenders. This must be free of charge in any case! Do not be fooled by the offers. Credit institutions often try to entice customers with favorable initial interest rates, low processing fees or interest rate guarantees. In the long run, however, this can be more expensive than an interest rate that is adjusted to the current loan rates. In any case, compare offers with regard to the effective interest rate over the entire term of the loan.
Make sure that you do not have to pay a loan broker with the processing fee. High processing fees can often be negotiated down. Also, when comparing offers, consider other loan fees and costs that are charged.
Also contrast the banks in terms of collateral required by them. The less demanded, the better. However, do not conceal the existence of collateral such as savings accounts, insurance policies or real estate, as this can significantly reduce the interest rates on the loan.
If there are ambiguities in the offers, have them checked by a trusted advisor before you sign anything.
Articles of the spring 2013 issue
MONEY: compare loans and save money
Whether an individual or a company, taking out a loan has significant consequences for future financial planning.
INSURE: insure more favorably by deductible
Most policyholders try to keep the deductible as low as possible.
LAW: what to do in case of illness?
What to do when I am sick? How should I behave when I am on sick leave? May I be terminated?
TAXES: family allowance when attending school abroad
Entitled to family allowance are children who have a residence or habitual abode in austria.