Finally another day with the sun and you sit on the terrace. With those sun rays on your back it starts to itch again; you naturally start thinking about vacation. A holiday where you can enjoy the sun every day for 2 weeks. There is only 1 problem: your account is a bit lean. You just moved and things had to be bought. That cuts in and now there is no money for vacation. Or is it? With a loan simulator you can calculate a loan and you will be surprised at the options you have.
In this example we use the holiday feeling, but it could just as well be a new car, house, renovation, study and so on. There are all kinds of loans that give you the space to implement your plans now and not to save for years. In addition, this is a great time to borrow, because interest rates have never been this low. This means that saving yields almost nothing extra, and conversely that debts entail low costs. How complicated is it to calculate your loan? Not at all! And you don’t even have to put on your jacket.
Today almost everyone takes out a loan at one time or another.
In Belgium, 81% of the loans currently consist of home loans. Consumer loans, such as the purchase of a new car, television or bedroom, are also on the rise. The Belgian is therefore positive about taking out a loan and uses a loan simulator for this. First you have to calculate how much you can pay per month. You do this by deducting your monthly expenses – all fixed costs, hobbies and things that you do not want to give up – from your income. That could therefore be your monthly payment amount.
Cheapest possible credit
Now you probably want to find a provider that offers you the cheapest possible credit. Log in to your laptop where you will find a large number of providers. And there are often (large) differences between lenders when it comes to paying off. And even minimal differences can have an impact at the end of the ride. So you have to make a comparison and you do that by clicking on multiple providers. On their websites there is a free loan simulator where you enter the loan amount and the term and, depending on the amount, sometimes some other data. After a few seconds you already know how much you will pay per month and that includes the annual percentage rate (APR).
The APR provides a good overview of the cheapest credit providers. The providers with the lowest APR usually offer the cheapest loan and you see that when you perform the simulations. Almost every provider has such a simulator so you can compare them. Always read the conditions. Once you know where you stand, a decision is made quickly. Easy right?