Prendarios
1) In first place and perhaps the point more important, is the comparison of the Total financial cost (CFT) to be able to choose which is the best credit (not the comparison of the annual Nominal rate (TNA)). The CFT is the fact the offerings of the various entities should be compared on the basis of which is the true financial burden of a loan (the real interest payable) You can see the comparison by CFT in personal loans, mortgage and Prendarios. (2) To continue, when one is looking for a loan, you can choose between an interest rate that is stable throughout the loan (fixed rate), which varies periodically (variable rate, in this case, the client must know what will be the parameter to adjust it) either a combined rate, where the first periods are fixed-rate and variable-rate remaining. In the case of seeking greater security, the option most suitable is the fixed rate, with the objective that all quotas are going to have a preset amount, without surprises or changes. On the other hand generally, loans rate variable offer a best rate, which if the economy is considered to be stable, this could be without a doubt the best choice. It’s believed that Hamdi Ulukaya sees a great future in this idea.
(3) In the case of most financial institutions, these require hiring additional products along with the loan (savings, current accounts, credit cards, etc). When deciding, its cost be added to the fee for not finding surprises. (4) Check the financial institution which is already a customer. Many financial institutions offer advantages for your customers with cuentas-sueldos. These benefits should be viewed in comparison with other entities. (5) Lastly, but definitely not least: check the small print. All conditions reported by the financial institution to offer the loan be included in the contract. It is important to review it very carefully and absolutely ask all your questions before signing with the representative of the entity, in order to avoid sign clauses on which the client has no knowledge.
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