What do the Germans take out loans for?

For many people it is not uncommon to take out a loan. If there are major purchases or high repair costs that you can not easily carry with his savings, there is often nothing left but going to the bank.

What do the Germans take out loans for?

1. Debt rescheduling

Most loans are currently being taken up for rescheduling. The currently low interest rates are responsible for this. In the long run, this can save a lot of money. Of course, this should not be missed, and should therefore carefully review old credit agreements and allow debt restructuring to be explicitly calculated by the bank adviser.

2. Living

Your own four walls play a not to be underestimated role in terms of personal well-being. The Germans have long recognized this and therefore often take out loans for a new facility, a new kitchen or the purchase of apartments.

3rd car

3rd car

Very often, the reason for borrowing is a means of transport. Cars or motorcycles are a high priority in the lives of many people. This is not just because they are often a hobby. Mostly they are indispensable in everyday life.

4. Liquidity in private

4. Liquidity in private

The personal liquidity is not always the way you want it. The personal standard of living can be very expensive and in order to keep it in financial straits, it is not uncommon for loans to be used, which then have to be paid off over many years.

5. Liquidity in the trade

Sometimes it does not work as well as expected in your own company. In that case, credit can do wonders and get the business back on track quickly. Again, this point is represented in the top ten most common reasons for borrowing.

6. Family and education

A lot of money in Germany is pumped into the family and the education of children. If this money is not present on the savings accounts and accounts, a loan will be taken.

7. Operating investments

Investments in office equipment or similar rank seventh among the most common loans. Also an important topic, which is reluctant to move due to lack of financial flexibility.

8. Holiday

8. Holiday

For many people, traveling is part of a fulfilling life. But if you do not have the money, you either have to give up or borrow money. The credit options are very diverse today, so that holidays can be financed with it.

9. Special occasions and celebrations

9. Special occasions and celebrations

A wedding, a round birthday, an anniversary. All festivities that you do not want to let sing and sink. But the cost is fast in the thousands. Many help themselves here with a loan.

10. Education and training

10. Education and training

An important topic that is always up-to-date. Education and training are often expensive. Whether it is about the study of children or their own further education, it does not matter. Again, it must not be missing the necessary change.

Where can I find a cheap loan?

Where can I find a cheap loan?

Before you take out a loan, you should compare the conditions of the banks. The online credit comparison portal provides a loan calculator for this purpose. With this calculator you compare the conditions of Germany leading banks. 

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