Holiday loan: how not to take the longest step

Holiday loan: how not to take the longest step

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The prsummer holidays is a classic of the short-term financing and also a fairly simple financial product. The promises of advertising, however, can be misleading and lead us to buy something 'oversized' or 'off the market'. The choice must be made carefully.

It may happen that you have a project holiday or to have a desire that requires a certain amount to be fulfilled, not too high - for example a scooter (perhaps electric), a household appliance or other consumer goods - but not to have the necessary liquidity immediately available.

It is in these cases that we resort to presiti in the short term, such as the holiday loan. The advantage of these formulas is that they allow you to proceed immediately with the purchase by paying an amount of interest that is usually reasonable.

Also, short term loans such as the holiday loan they can be stipulated not only at the lender but also at the point of sale where you plan to purchase the desired good or service.

Unlike long or very long-term loans, for example those for a mortgage or the purchase of a new car, holiday loans they are usually at a fixed rate. They also have an installment and an amount of interest directly linked to the duration of the loan. The point is to understand which is the formula that best suits our needs and repayment capacity.

To avoid making the stride longer than the leg, and that the holiday loan become a boulder when the installments begin, it is better to rely on services like ours comparator, which helps to identify the best compromise for our needs.

THE short term loans, also called consumer loan or consumer credit, can be obtained by presenting the identity card, tax code and income documentation: pay slip (if employees), single model (for self-employed and professionals) or pension slips.

For the rapidity-urgency of the short term loans, which not infrequently allow the payment of the sum on the same day in which they are stipulated, often the shopkeeper or the dealer of the goods to be purchased (including the travel agency) acts as an intermediary with the bank or financial institution that disburses the loan, also taking care of the various bureaucratic formalities.

It is also common practice that at certain times of the year, to stimulate consumption, they are offered interest-free loans with a repayment term of around one year. This happens most often around Christmas (for example with Apple products).