Thursday, 10 July 2014

Is the 0% credit actually costs nothing?

Various financial institutions compete with each other in coming up with proposals and advertising slogans that are designed to entice multitudes of customers to take advantage of their offer of credit. A very popular lure is the slogan "credit 0%" or however it is actually costless?

Password "credit 0%" is unfortunately not a guarantee that the loan will in fact be granted without costs. In fact said slogan "0%" can be applied to different values ​​affecting the final price of the loan. This may mean, for example, so both minimizing the liability on the granting of commissions and zero nominal interest rate is 0% commission for early repayment or conversion obligations of the loan.

What to check?

Hence, meeting proposal "credit 0%" should first of all make sure what actually refers to the determinant of 0%. It should be also noted that even a reduction of the nominal interest rate to 0% is not at all synonymous with the fact that in reality, the credit will be costless. On the contrary, because the award may in fact be associated with the need to cover the high commission or additional collateral, which will trigger the charging inconsiderable additional costs during the entire repayment period.

Deciding to take out a loan, before signing the contract so let's check each of the nominal interest rate on the loan, the amount of collected fees and charges, the annual percentage rate (APR), and the total cost of the loan and whether the use of the offer does not involve such redemption of expensive insurance. Do not be afraid to ask, because of our awareness and knowledge depends, after finally wealth of our portfolio. We should also remember that the professionals Kas Stefczyka happy to answer any questions, and help in the selection of the optimal financing indicators that will be perfectly suited to the needs and capabilities.

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