A consumer loan will provide the possibility of paying for unanticipated purchases or bridge difficult financial situations. Costs can be calculated in advance ( monthly installments) and there are also products with more flexible repayment models.
However costs for such loans are high (15% annual interest at most). This is why it is always worth considering other possiblities before concluding a consumer credit contract. For instance:
- Deferment of payment or agreements for repayment in installments for existing debts (e.g. taxes)
- Loans from friends or family
- Leasing a car instead of buying
- Setting a credit limit on your bank account (e.g. for purchases)
