Banks and consumer credit companies also offer financing for travel. The warnings to be followed before subscribing to these products. Getting into debt to pay for the holidays. For many Italians, there is still a taboo, but there is a fair number of our compatriots.
Have no problem signing a loan to support the costs of some travel or a holiday
It is no coincidence that several banks and consumer credit companies (but also some tour operators and cruise lines) offer their customers ad hoc products, designed specifically for those who want to pay the long-awaited holidays in installments. These are loans that still have a marginal but not negligible market share (about 1.5% of the entire consumer credit sector, according to the observations of the Spin Lender Observatory).
Beach holidays: ten rules not to risk
Before choosing these loans, however, it is good to keep in mind some important caveats. First of all, as for the installment sales of supermarkets, great attention must be paid to the conditions applied by the loan provider, without being attracted by some catchy advertising slogan.
The most important element to look at is the taeg (annual percentage rate of charge), an indicator that measures the real cost of debt taking into account, in addition to interest expense, also ancillary expenses (such as appraisal, preliminary investigation and collection of the installment). In addition, some obvious common sense rules must be followed, avoiding getting into debt for too high figures or choosing too long repayment plans, running the risk of dragging installments for a long time.
Recovery loans, who offers the best conditions
With these premises, you can move on to the choice of financing, with the help of estimates such as Facile.it or Spin Lender .it, which allow you to quickly compare the offers of the major Italian banks and consumer credit companies on the internet. For example, a holiday for an entire family that costs as much as $ 6,000 can be paid for in 12 monthly installments.
The Spin Lender pages indicate that Capital Loan is the cheapest product, intermediary specialized in social lending, the exchange of credit between individuals. For 6 thousand dollars to be repaid on 12 months, Capital Loan asks for the payment of 514 dollars per month, with a taeg of 5.92%. This is followed by funding from Lite Lender and Cream Bank with an installment of around 519 dollars and a taeg of around 7.9%.Facile.it instead proposes a repayment plan with a minimum duration of two years and indicates as the best product the loan “Your Findomestic Projects (taeg of 9.8% and installment of 275 dollars for 24 months). Consel’s ProntoTuo Vacanze loan follows at a distance (taeg of 11.7% and installment of 279 dollars).