Can you apply for a loan and end up with a deal without benefits and with a very high interest rate? That has happened to many people who dreamed of asking for a loan to complete a project and who ended up accepting offers that did not suit them.
If you are thinking of borrowing money from a financial institution, make sure you know how to negotiate before accepting the deal. For that, we tell you 4 techniques for you to succeed:
Ask for extra benefits
“What do I gain when I become a customer of this bank / box?” Is a valid question that could open many doors for you. You must pay attention to what the advisor tells you. Evaluate the “tied products” . One way to get a better interest rate is if you have other financial products in that entity. For example, many institutions offer to give you a preferential rate if you also have a salary account and your CTS. Talk about the “other deals”. You can tell the advisors about the offers that other banks have given you that you have seen publicly on the internet. Feeling the pressure of getting the loan, some choose to disclose certain privileges or simply improve the treatment you are about to do.
Choose a friendly term
To choose the term you must rely on your budget, that is, first look at how much money you have available monthly to pay the bank. This will define the time at which the credit can be financed. It is not advisable to choose a very short term that ends with unpayable installments, but neither go to the extreme of the minimum payment, that way you will avoid generating a large amount of interest.
Similarly, one of the basic points has to do with the interest rate, as it will determine how much you will pay for the money you will borrow.
That is why it is important that before choosing an entity, look for all the options and compare all these amounts. You can do that very quickly in the personal payday loan comparator of Drakers. We are the only ones who will tell you the whole truth about bank offers.
Remember that you lose nothing when trying to negotiate your credit; On the contrary, you can save more than you think.