If you have only a small amount of money available and you want to travel, you do not always have to forego the dream holiday because you can apply for holiday loans. Some tour operators offer financing, which you can pay off in a few monthly installments.
That is not always cheap. You should therefore use the credit comparison on the Internet and compare the conditions of the banks. You should plan a loan for the holiday carefully. You should consider carefully whether you really want to finance your trip with a loan or if there are other possibilities.
You can not always relax and enjoy a credit-financed trip as you are thinking about repaying. Instead, you should look for a cheaper trip or make some accommodation.
Credit rating is unfavorable, you should consider whether you could book the trip cheaper with another organizer. A savings opportunity are also last-minute travel or early bird discounts.
You should only use the credit line if. You have not used it for other expenses and if you only need a small amount of a few hundred euros. Loans of less than $ 1,000 are granted by very few banks. If the price for your trip is $ 2,500 and you have your credit of only $ 2,200, then it is worth considering funding the remaining $ 300 with the credit.
If you want to use the credit line, you should do so only if you are quickly liquid again, for example, if your employer has not paid on time. If you can repay the credit line within a few days, financing with the credit line is an option.
There is no term for the credit line. If money is returned to your account, the amount will be fully or partially balanced.
You pay interest on the credit line only for the amount that you actually use. One disadvantage is compound interest.
The accrued debit interest is added by the bank at the end of the month and also bears interest. The credit line can be expensive and should not be used if possible. Especially for travel prices of several thousand euros, such a credit line is very unfavorable.
Significantly cheaper than a credit line can be a loan from a direct bank.
Loan calculator on the internet helps you. With regard to the monthly installments, you can play through several variants by specifying different terms. The rates should be set so that your cash register is not strained too much in each month.
You should still have enough money for current expenses and for unforeseen things. The term and the interest determine how much the installments are.
You should not choose the term for more than two years. If the monthly rates are too high for you, you will have to cut corners when booking the trip or choose a cheaper tour operator. You should only use a holiday loan if you have a good credit rating.
When planning your vacation loan, keep in mind that the interest rates for a vacation loan are also higher for direct banks than for a loan for a car or for furniture.
You can also choose a holiday loan for free use by specifying “free use” for the purpose of use instead of holiday. Again, the interest rates are higher than a loan for a car or for a TV.
A holiday loan for free use, you can apply for at your house bank, but this is much more expensive than a direct bank. Another advantage of a direct bank: You get the loan faster than at your bank.
Individuals who are willing to lend to individuals have joined forces there. You pay your money into a fund from which your loan is granted. In return, these individuals receive interest. The individuals who lend are largely hedged against default.
You must submit a credit application and specify the desired loan amount,
You should set out your destination and the reasons for the loan to help the lenders make the decision.
On the basis of your loan application, private individuals decide whether they are willing to grant you a loan on the terms specified.
You now need to complete a loan application online. Again, you will get an answer soon after. If you make a commitment, you will need to submit documents to verify your credit rating.
The examination of the documents is carried out by a bank. There is no guarantee of a credit on these credit marketplaces. If your credit rating is very unfavorable, you can also get a cancellation here. Once you have received a commitment, the loan will be paid out within a short period of time.
And have overdrawn your account or if it is bad for your credit rating. You should check if there are alternatives if you want to go on vacation and the money is tight. Such alternatives exist in
- Looking for cheaper provider
- Moving the journey
- Access to call money account
- Wait until a life insurance or time deposit is due
You can use the travel comparison on the Internet to check whether you can book the same or a similar trip cheaper with another provider. An alternative is to postpone the trip and save an amount each month to pay for the trip.
You may have saved enough money in a year, so you can pay for the trip without credit. If you have a savings account and have enough money saved, you can withdraw money from it for your trip. In the foreseeable future, if a life insurance policy is to be disbursed or the deadline for your deposit account expires, this is a good option to pay for the trip.
Only if the trip can not wait, because it is a honeymoon or other special trip and if you have a good credit, you should pay for the trip with the holiday credit. One option would be to choose a cheaper hotel for a hotel trip or a cheaper cabin for a cruise.