The economic recession that has gripped the old continent, including Italy, would seem to have loosened its grip. According to the latest ISTAT data, the growth of the US market is driving the euro area bringing industrial production growth, with a consequent reduction in unemployment and a relative increase in the propensity to spend.
This recovery also translates into an increase in the demand for loans. But what are the right moves to put into practice to choose the best loan ? Let’s see the 6 decisive factors to consider!
1. TAN and APR to choose the most convenient loan
The first step to choosing the right loan is to carefully evaluate the costs of the financing, made explicit by the TAN and the APR.
The TAN acronym stands for Nominal Annual Rate and is used to indicate the interest rate that we will have to pay each year, if we accept our loan request.
However, the TAN does not express the total cost of the loan ; in fact, other expenses such as, for example, the costs of opening the case, collection and insurance costs must be considered.
Precisely for this reason, in order to correctly assess the convenience of a loan, it is necessary to verify the APR (Effective Global Annual Rate), which examines each accessory expense, combining it with the interest rate.
Through the APR you can compare each other’s proposals, so as to identify the really most convenient one.
With Loans & Financing all the conditions are clear from the start and there are never any hidden costs. In fact, our consultants always talk about the APR: request the Assignment of the Fourthe, the customized loan for employees and pensioners, transparent, practical and protected.
2. Amortization plan
The amortization plan is a fundamental element to consider when choosing a loan. Personal loans normally have a maximum duration of 120 months (10 years). In defining the amortization schedule, as well as the relative installment and duration, it will be necessary to take into account the fact that a long amortization plan will allow a lower installment to be obtained, thus safeguarding the family’s ability to spend net of the loan.
The Cession of the Fourthe is a form of loan that always guarantees sustainability, the installment in fact never exceeds 20% of the salary / net pension (in fact a Fourthe). Therefore the applicant will be guaranteed to obtain a loan that is always sustainable, with a fixed rate and installment for the entire duration.
Loans & Financing is specialized in loans for Employees and Pensioners through the Fourthe Assignment for over 20 years and is regularly registered with the OAM, the Office of Agents and Mediators. Request a Free Quote Now!
Some loans include it, others do not. Evaluating this aspect is very important, as it is possible to protect both the applicant and his family against a minimal expense. Subscribing to insurance can therefore be a good move.
With the Fourthe Assignment the policy is always included: choose a practical, protected loan that protects you.
4. Seller and intermediary
If a finalized loan is obtained, as in the case of a car purchased from a dealer, it is good to know that the installments will have to be paid even in the presence of any product deficiencies. Such a scenario is defined by the purchase contract, which differs from the signed contract to obtain a loan, with which liquidity is obtained to purchase the asset.
That is why, when signing a loan contract, it is good to be aware of the different roles of the intermediary and the seller. By obtaining prior information on this, unpleasant misunderstandings can be avoided.
The Assignment of the Fourthe is an unfinished loan, this means that it is not necessary to specify the use of liquidity, just as it is not necessary to produce documentation certifying a possible purchase. This allows the Cession of the Fourthe to be an extremely flexible and reserved multi-use loan.
5. Spend time on details
A loan is defined by documents that have clauses that are sometimes not evident. For this reason it is advisable to take some time to evaluate the contractual details, finding out about any penalties in the event of early termination or the consequences of delays in the balance of the installments.
Once these aspects have been assessed, the contract can be signed with greater awareness and informed – if necessary – of the procedures to be followed, in addition to any reductions or costs to be incurred.
Over 97% of our customers claim to be fully satisfied with our service: a score that is well above the market average. Our consultants have received a vote of 4.8 out of 5 due to the high level of professionalism: choosing Loans & Financing to request your Cession of the Fourthe you will be sure to contact immediately a trusted interlocutor, already referenced by thousands of customers.
6. Simulators: yes or no?
As we have seen, before throwing yourself on an offer that appears convenient, it is always advisable to compare the proposals. The best method is to compare the APR for the same conditions (installment, duration, presence or absence of insurance), in order to understand the real convenience of a loan rather than another.
Online you can easily find simulators of loan costs, which allow you to simulate different financing scenarios.
In this case it is advisable to know that the examples provided are generic and that they must always be confirmed by an operator (with the exception of simulators that require more information such as payroll, identity documents and, in the case of private companies, even VAT number of the company for which you work).
In fact, the feasibility analysis of a loan includes many variables, so it is always personalized and tailored to the applicant.
Finally we want to give you some general rules to always refer to:
- Be wary of extremely cheap but very general offers, not supported by accurate documentation;
- Check that the interlocutor is regularly registered with the OAM, the Office of Agents and Mediators
- Never pay money to the intermediary, as the agent’s fee is included in the total costs of the loan.