A Personal Payday loan can be a good help in different life situations. We can ask for it quite easily and quickly.
There are many reasons why we want to buy a new or used car. We have already chosen a type we dream of, the seller has it in action, a new model comes, but we want the previous one with the given engine, twins were born and we can’t fit into the old one, so we crashed with the old one and it’s not worth repairing… There are many reasons. Whatever leads us to a decision, let us be cautious.
More and more people are buying a car using a Personal Payday loan
A Personal Payday loan is a financial amount due to the amount of money that is quickly and relatively easily accessible. We often lack only a certain amount of money to fulfill our dream and buy a new car. It is not enough just to pay for a car, there will be other expenses that we also have to have ready to finance, especially when buying a used car. So, in addition to the purchase price, there will be other costs such as:
- service costs before buying a car – we wouldn’t like to buy a used car with some bug
- originality controll,
- technical card costs
- eventually service costs to repair minor defects
- new summer or winter tires and others.
If we buy a new car, the price will, of course, be higher. Perhaps it will be easier to choose a loan to buy a car instead of a Personal Payday loan. But what conditions need to be met? See the next paragraph.
There are many reasons why we want to buy a new or used car
How to apply for a loan if we want to use it for a used car?
Purpose-free credit has the advantage that we can spend borrowed money on anything. Therefore, the application and approval conditions are identical to the application for a Personal Payday loan. We have written about this topic in detail in this article. Here we will recall the most important aspects of the process.
It should be stressed that we only ask for the amount we really need and we are able to pay back without any problems. It is a good idea to review the purpose-free loan market with comparison sites such as Ophelia before making a decision. We must strive to find the most advantageous offer by matching the desired amount, repayment period and maximum monthly payment we can afford.
How do I choose the best deal? Main aspects
- Every applicant must realize that the loan is not free, the loan price can rise very high. Therefore, we need to know that the longer we repay debt, we pay more to the financial institution. For example, for a EUR 5,000 loan with a repayment period of 96 months with a monthly installment of EUR 79.69, we will pay a total of EUR 7,403.52. If we repay the same amount only 48 months, the monthly installment will be higher, € 133.40, but only € 6,075.36. It is clear from the example that if we reduce the repayment period by half, we will only repay the debt by EUR 1 075.36, while in the latter case by up to EUR 2 403.52. The difference is up to € 1,328.16.
- When looking for the lowest interest rate or RPMN indicator, pay attention to the length of the repayment period and choose the shortest period we can afford to finance.
- Again, caution should be emphasized. The loan can limit our financial possibilities for years. When we ask for it, we don’t even think about it, we see only low interest on television advertising. But do we realize that because we have chosen a thousand euros more to enjoy a seaside holiday, will we not have a new bike to save for our baby? What do we do in that case? Will we ask for one more loan? Obviously everyone agrees that this is not a good solution. If we are cautious and modest in choosing the amount of purpose-free loan, we will also fulfill our dream and for a few years we will not regret our previous decision.
- repayment period
- monthly payment
- loan application