If you would like to fulfill your wishes, but do not have enough savings, you can of course take out a loan. Taking out a loan is very normal nowadays – almost everyone has ever been in debt to fulfill their dream of owning a home, a luxury car or a Caribbean vacation.
Of course, it is important that you always keep an eye on your finances and do not take too much risk. So that the borrowing does not harm you, you should first consider how much money you have available for repayment each month. You should also take into account unforeseen expenses – after all, nobody can predict whether your fridge will soon break or your garden fence needs to be repaired.
Loans with a term of 12 months – so you can save a lot
The most annoying thing about borrowing is of course interest. Fortunately, it is possible to keep interest rates low if you opt for a short term. Loans with a term of 12 months are usually much cheaper than other loans.
A disadvantage is, of course, that you have to repay the amount faster and therefore have to pay higher monthly installments. But if you can afford it, you should definitely take out a 12-month loan. Depending on the amount of the loan, you can save several hundred to a thousand euros. The basic prerequisites for taking out 12-month loans are the same as for other loans. You need a steady job, a regular income and a clean school to be considered creditworthy.
Loans with a term of 12 months – do the comparison
Although 12-month loans are cheaper than other loans, you should try to take advantage of even more savings. One possibility is to carry out a comparison on the Internet and to check the offers of the different banks. Even if you have been loyal to your house bank for decades, you can be sure that there are cheaper offers elsewhere. If you have found an attractive offer through the comparison, it is possible to apply for the loan immediately on the Internet. This not only saves you a lot of money, but also valuable time – after all, it only takes a few days for your loan application to be approved by the respective online bank.