That is Why You Pay Too Much For Your Loan
You pay too much for your loan if you already took it out a while ago with a bank and now probably no longer look at the interest there, so you pay too much for your loan. The difference with the lowest interest rate and the highest interest rate (which you probably pay now) can be no less than 10%. This means that if you refinance your expensive loan, you will pay half the interest and that will save you a lot on your monthly amount. Read how you can easily switch from your expensive loan to a cheaper one, of course also with a handy transfer service.
That’s why you pay too much for your loan
The loan market has changed so much in recent years that it is now advisable to take a critical look at your outstanding loan (s). If you have multiple loans, you can save even more by merging them into one loan wherever you go. once you start paying a much lower interest, count your savings
Which loans are expensive
In fact, the loans taken out with regular banks years ago are almost all too expensive. For example, you pay interest with a revolving credit of 25,000 euros at ABN AMRO 7%, at Rabobank 8.3% and at ING even an interest of 8.5%. Set this against the current interest rate of 4.7% that you will pay when transferring if you apply for it online. At the bottom of this message you will find an overview of which lenders can offer this at this low interest rate. It is a free quote, so you can look at it again at your leisure and decide later.
You can retake all loans
In itself every loan can be taken out, only with a mortgage it can be that a fine has to be paid. You should therefore carefully check whether the new offer is interesting enough to have your mortgage closed. Furthermore, you can transfer any loan you have without penalty to a new, cheaper loan.
Can I also refinance my car loan?
If you bought a car a while ago and also taken out a car loan at the car company, there is a good chance that you now pay too much for it. Take a look at the agreement that you signed then and see what the interest is that you now have to pay, if it is much higher than 4.7%, it is certainly worthwhile to change this. The lenders with this low interest rate will also help you with this loan so that you do not have to cancel your old loan yourself. If your new loan is approved, your new lender will pay off your old loan in its entirety, so you no longer have to worry about that.
The conditions remain the same with a new loan
If you decide to take over your existing loans, the conditions will remain the same as with your old loan, so you pay the same amount per month with the new loan as you were used to. Only if you are going to pay off faster in the new way, if you don’t want to, the monthly amount can also be adjusted downwards, in this way you will get maximum benefit from your lower interest.
Borrow expensive forms of money
More than 50% of all outstanding loans are taken up by credit cards, standing in red and mail order companies. In practice, this type of borrowing appears to be very expensive with interest rates of around the maximum permitted 14%. A better solution would be not to use these forms of credit but to take out a revolving credit instead.