Anyone who takes out a loan knows very well that not only the loan amount has to be repaid to the bank. There are additional costs that can be significantly reduced by a loan without advance payment.
What does prepayment mean?
Prepayment means that the lender pays for himself before finding a suitable loan. Sold such a measure is very happy as expense allowance.
Payment is in cash or by bank transfer. Some also hide the prepayment in subscriptions or insurance, which should be completed before borrowing.
The result, however, is the same. The prospect pays for a service without any guarantee that it will be provided in the end.
For a prepayment does not automatically mean that a loan agreement can be signed. The advance payment is only intended for the search for suitable offers.
Therefore, you should always look for a loan without prepayment to avoid unnecessary costs.
Who charges a prepayment?
Payment in advance is actually only charged by dubious credit intermediaries and lenders. They seek their clientele among all those who have a poor credit rating and therefore have little chance of getting a regular loan.
Many sufferers are in financial distress. They see the credit as the only chance to improve their situation and are therefore lightly responding to offers.
Often they have to pay dearly for their carelessness. Because they do not get a loan in many cases.
The money from the prepayment is gone. Because the credit intermediary will not push this out again.
Is a prepayment legal?
In principle, every prospective loan applicant has to decide for himself which offers he wants. He can freely choose which loan offer he wants to use.
Thus, he has it in his hand, whether he gets involved in such offers or rather seeks a loan without advance payment. The latter is always the better way, which will lead to a solid credit.
Those who do not receive credit without advance payment in a conventional way should instead question what this is. As a rule, it is the credit rating that is too weak for borrowing.
If this is improved, however, good credit offers can be found. For an improvement, it is often sufficient if a solvent guarantor is called in to borrow.
What does a loan without advance payment look like?
Credit without advance payment is not accompanied by any initial costs. The prospect does not pay a fee to the bank or any other donor but gets money.
Namely, when the credit has been approved and it comes to the disbursement of the loan amount. Also insurance or subscriptions may not be completed in advance.
If the lender recommends taking out a residual debt insurance, this should never be done through the lender. Such insurance is provided by many insurance companies.
Thus, there is always the possibility of a direct conclusion, if this should be necessary. Already so one avoids dubious offers and a hidden advance.
Where is the loan without prepayment?
The credit without advance payment is available at every reputable bank. Many credit intermediaries now work without prepayment. They can be paid by the banks or savings banks with which they work together.
And that’s when it comes to a credit agreement. In order to rule out that it is a credit with a prepayment, suitable loan offers should always be searched with the help of a comparison calculator.
These only show offers from reputable banks, so that hidden costs or prepayment can be excluded. In addition, no credit offers should be envisaged that promise credit even if the credit rating is poor.
These are lock offers that do not bring the desired success. Rather, they are associated with high costs, which only exacerbate the financial situation of the borrower.