Car Loans

Car Loans Ranking – Financing the purchase of a new car

Banks most often finance the purchase of new cars, which in themselves are the best collateral for loan repayment. In their case, the problem of price compliance with the real value of the car is also eliminated. Therefore, new cars can be credited on more favorable terms, i.e. using a lower commission and a reduced nominal interest rate. Let’s check, however, were crediting the purchase of a new and used car will be the most advantageous.

In the Good Finance car loan ranking in March, we assumed that a married couple who has one child is interested in buying a new or used car. Customers do not have other loans or credit cards, and their total income from an employment contract of indefinite duration is USD 3,946 net.

Financing the purchase of a new car

Financing the purchase of a new car

At the same time, we assumed that our example family is interested in buying a car whose price in the salon is USD 60,000. However, borrowers only need 48,000. USD loan, which they intend to repay within 5 years. The rest of the price of the car will be covered by them from the accumulated savings.

Taking into account the above assumptions and assuming that the criterion for assessing banks’ offers is the amount of the monthly loan installment, E-Money together with Good Credit becomes the leaders of the statement. These banks offer the lowest installment, amounting to USD 950.03.

Financing the purchase of a used car

Financing the purchase of a used car

Our example borrowers are also considering the option of buying a used car – a year of production 2009. Similarly to the above case, the loan amount is USD 48,000 and the price of the car is USD 60,000.

At the head of the list, the twin offers of E-Money and Good Credit have again come out. In both cases, the monthly installment is USD 1,020.07. The second position, with an installment of USD 1,027.28, was Good Lender Bank, which, as in the case of a new car loan, will not charge a commission for granting the obligation.

The installments of the loans they propose are USD 1,032.40 and USD 1,043.16, respectively.

New or used? The difference in the total cost of credit can help answer this question. In the case of the winning E-Money and Good Credit offers, crediting the purchase of a used car will be exactly USD 3,962.31 more expensive than financing the purchase of a car from the salon.

Real estate loan repurchase.

Have you taken out a mortgage at a higher rate than those currently used? Do you want to know if having your current mortgage bought back is interesting for you? gives you some tips to help you with your calculations…

See the rates currently charged by banks. To obtain precise and personalized proposals, do not hesitate to carry out a complete simulation.

What are the costs of buying back mortgage?

What are the costs of buying back mortgage?

When you redeem your mortgage, you have to count the costs of such an operation. The repurchase of your mortgage is only profitable for you if you save yourself more than you spend on financial costs of the operation. With a lower rate, you should get a total cost of credit that is attractive enough to offset the following costs:

– The indemnities in the event of early repayment (IRA) or penalties: they represent the total of the 6 months of interest to be followed at the time of the request for the repurchase of mortgage, but may not exceed 3% of the capital remaining due. So if you redeem your mortgage in October, the IRA will amount to the amount of interest that you should have paid until April. It is not possible for you to escape from it except if at the time of the subscription of the credit you had negotiated a cancellation of the IRA in the event of resale of the good or of advanced repayment of the credit thanks to your own funds. On the other hand, it is impossible to be exempt from IRA in the event of repurchase of the mortgage by a competing bank.

– The cost of the guarantee: a repurchase of a mortgage implies a new loan and therefore a new guarantee. Depending on your current warranty, the procedures are different:

  • In the event of a mortgage, or IPPD, you must pay the costs of a show of hands and provide for the establishment of a new guarantee.
  • If your current guarantee is a deposit, you recover 75% of the mutual guarantee fund that you paid when you took out the first loan. This amount allows you in large part to pay the new guarantee to put in place.

– Administrative fees payable to the bank which offers you the new loan

You can renegotiate your current rate with your bank or have your mortgage bought back by a competing bank. If your bank has no interest in renegotiating your current credit at a lower rate. She can sometimes do this to keep you as a customer! However, this remains difficult to obtain and your bank may ask you in exchange for the subscription of other products ( insurance, investment etc.).

In the case of a renegotiation of mortgage with your current bank, you do not have to pay the various costs of the repurchase of mortgage (IRA, costs of file and guarantee) but it will certainly not be able to you offer the lowest rate on the market. It’s all about negotiation!

On the other hand, competing banks are ready to make you their best offers of mortgage loans at the lowest rate on the market to count you among their new customers. These are call offers: Banks use mortgage to win new customers.

The rules of repurchase of mortgage

The rules of repurchase of mortgage

Depending on the rates offered on the market and the fees we have mentioned above, you need to look at the following points in order to assess the gain of such an operation and achieve the greatest savings.

Find out about your outstanding capital

From the amortization table provided by your bank when taking out your current mortgage, you can find your outstanding capital and the remaining term of your current loan. If you have lost this table, you can request it from your bank, but this service is often billed.

Evaluate the duration of your new loan

– If you want to keep the same loan term to reduce your monthly payments, take into account the following rules:

  • If your current mortgage is in the first third of its repayment, you will need to obtain a new mortgage at an interest rate at least one point lower than the current loan for the transaction to be financially attractive to you. Indeed, if the difference between your current rate and the new proposed rate is not significant, the operation will not prove to be interesting taking into account the various financial costs due to the repurchase of mortgage loan (cf 1 / What are the costs? ).
  • If your mortgage is in the 2nd third of its repayment but has not reached its third third, then you will need to obtain a credit rate at least 2 points lower than your current loan for this to generate a gain.
  • Finally, if your mortgage is in the last third of its repayment, while redeeming it for the same duration, the operation is not financially attractive. When you repay an amortizable loan, most of the interest is in fact repaid at the start of the loan. The more you advance in your repayment, the more the share of interest in the maturities decreases. But renegotiating your credit mainly allows you to lower the interest rate, so even with a lower rate, the gain is not obvious.

– If you are ready to leave for a shorter period, (buy your mortgage while increasing your monthly payments or keeping similar monthly payments), know that the operation will necessarily be interesting. This should therefore be the preferred option if your income allows it. In fact, if your income has increased since taking out the loan, you will be able to offer yourself a shorter term and reduce the cost of your credit even more significantly, while taking out debt for less time.

In summary: At least as much as the new monthly payments proposed, you must be very attentive to the new total cost of the credit proposed to assess the gain that you will generate, without forgetting to take into account the costs inherent in the repurchase of mortgage.

When applying for a consumer loan

When applying for a consumer loan, banks usually require us a certificate of earnings, for which we often have to wait a long time, and the employer himself is reluctant to issue them.

What are our emergency exits if we care about time? The easiest way to get quick cash is to have a bank statement to which a fixed salary is transferred.

Quick cash for holiday expenses

Quick cash for holiday expenses

Then we can borrow up to tens of thousands of dollars from the bank without submitting additional documents. Banks usually require confirmation of three salary receipts or full statements for the last three months.

This is the case with an employment contract. However, if we have a mandate contract or a specific task contract, then most often the bank asks for an account statement for six or twelve months together with contracts for the same period.

What can we do if we do not have a bank account, or the salary does not affect us? We can then submit an application together with a declaration of income.

In such a situation, the bank will most often grant us a loan of from several to several thousand dollars. This loan is more difficult to obtain because it is granted only to consumers who have a good credit history in the Economic Information Bureau.

Total cost in one place


The cost of each loan – regardless of its purpose – will be checked by one indicator: APRC – the Actual Annual Interest Rate. The APRC includes all credit costs, i.e. nominal interest (which is usually shown in bold in advertisements), insurance, commission, administrative fees (sometimes called preparatory fees). Currently, the maximum nominal interest rate may not exceed four times the Good Finance rate, which is currently 2.5%.

The commission and the preparation fees are one-off, while the insurance is usually valid throughout the entire contract period. Credit insurance usually protects us in the event of incapacity for work (in which case the insurer covers, for example, the cost of installments for twelve months).

It is also worth remembering that an additional loan amount is intended for insurance and the same fees are also charged. It is the gross loan amount that will show us how much initial costs we pay. If we apply for USD 10,000 and the gross loan amount is USD 12,000, it means that the initial costs will be USD 2,000.

What else should we pay attention to when choosing a cash loan?

There are several aspects that are worth paying attention to when choosing a loan offer. First of all, pay attention to the repayment schedule – check whether interest does not constitute the majority of the interest and capital installment. Let’s look for offers in which capital installments are higher at the very beginning because, in the event of early repayment of the loan, less interest will remain to be repaid.

We also verify whether as part of APRC all costs are given. Sometimes it may happen that the insurance offered by the adviser will not be included in the total cost of the loan, which is why such an offer will seem more attractive to us.

The holiday season is not only the magic of family gatherings but also shopping fever. Marketing departments of every company available on our market are put in the highest readiness. Remember to verify before signing the contract whether this “cheap loan with a low-interest rate” is certainly as beneficial as shown in the advertisement.

Loan for those in debt

Life puts us sometimes in difficult situations in which only a certain amount of money can solve the problem. It is much harder for people in debt to try anywhere for a loan. The bank with not the best credit history will refuse to pay the loan. However, there are award companies loans to people in debt – even without checking in Credit Checker.

The uncertain economic situation in the country


Also on the labor market may make that virtually every one of us with any obligations to banks will be forced to repay the debt late. It is then easy to get negative entries in Office Credit Information and then it will be hard to get any loan, especially at the bank.

However, the loan market has developed considerably in recent years non-bank loans, which are also granted to indebted persons – even without checking in Credit Checker. Compared to a bank loan, these are granted by private companies. Non-bank loans are unfortunately a lot more expensive than bank debt although their repayment period is definitely shorter.

One of the outstanding awarding brands loans for those in debt there is definitely a Cash Maker. offers she has quick, small cash loans available on your account at an hour from submitting the online application. They are awarded as most payday loans for a short repayment period of 30 or 60 days with the option of extension.

The loan amount starts at USD 100

The loan amount starts at USD 100

Good Finance operating for years on the Polish market is able to grant a loan to a person in debt with a bad history credit. Installments are paid weekly or once a month. To lower loan cost in Good Finance is worth giving up home service and paying the installment to your account Banking.

However, today the market leader in loans for indebted, without checking the customer in Credit Checker is Good Credit. The company grants loans even up to USD 25,000, which is characterized by high granting and minimum formalities.

People in debt can also apply for a mortgage loan by the bank. It is secured by the borrower’s real estate (e.g. private home).
The mortgage loan is granted for a long repayment period and for some may be a good way to finally get back on your feet. However, this loan carries there is a lot of risk behind it. In case of failure to repay the loan mortgage, a person in debt can lose his or her roof.

A loan – where I will definitely get it

There are institutions in Poland that will almost certainly grant everyone a cash loan. Such companies, however, want a lot of it, are they right? But the truth is that in a crisis the price of the loan is not important, more important to definitely get it.

Until recently, the leaders on the Polish non-banking market were undoubtedly Provident and the Credit Chwilówki company. Today, however, this has changed, and just as these institutions once dictated the conditions, now they must adapt to the standards and prices currently in force in Poland.

The large influx of non-bank companies providing private loans

The large influx of non-bank companies providing private loans

From abroad and the newly established domestic companies with equity have made this market very competitive, which resulted in a reduction in prices and costs of quick loans, such as payday loans.

However, are there any institutions that will grant everyone a loan in a crisis? A loan can be expected by all those who, apart from obtaining steady, documented income, have an impeccable credit history in such databases as Credit Information Bureau. These people, however, probably do not use the services of non-bank companies because they know that a loan in a bank will be cheaper.

The situation is different for people working in the dark or on so-called “junk contracts”. And although it happens that these people are already indebted and even have arrears in their current obligations, they decide to take out another loan.

They are often forced to do so by a difficult situation, another unexpected expense that must be incurred regardless of the price. Therefore, several non-bank companies operate in this sphere, earning on such clients, but also incurring the considerable risk, which is associated with the payment of money to uncertain clients.

Where will they grant us loans today?

Where will they grant us loans today?

People with financial arrears and undocumented income will find it difficult to get a loan anywhere. However, there are companies that are willing to borrow money on the statement and without checking in the Credit Information Bureau, they include Good Finance. These companies do not require our visitors to their facilities, and you can apply for a loan online without leaving your home.

People who own property in the form of, for example, an apartment, can apply for a loan against it. In their situation, the lender will definitely grant a loan with real estate collateral. Unfortunately, many people lost their homes in this way, overestimating their real debt repayment options.

In which bank will I get a cash loan without documents?

Almost all banks have offers on click and this should be a reward for regular customers transferring their salary or maintaining a stable income. Repeatedly, such a client received large sums of money because of the fact that such conclusions do not always reach the analyst. Therefore, if the system is so, the bank employee only has the task to complete the process and sign the contract with the client.

In which bank will I get a cash loan without documents?

In which bank will I get a cash loan without documents?

  • Good Finance – this bank offers a very simple process for regular customers transferring their salary. Usually, different amounts are available but the maximum may be about USD 50,000 gross, however, depending on the offer, this amount may be correspondingly smaller. Usually, it is about 20,000 USD and the process looks like no documents are provided, only income is declared. The analyst does not verify the entered data, therefore the admissibility is very high, and after submitting the application and checking the price, we can sign the contract.
  • Good Credit – in its offer it has the most such offers wherein pesel the system prepares an offer on a click, which is only a formality. The bank calculates the amount based on turnover, therefore, even without permanent remuneration transfers, you can apply for high amounts depending on what the system suggests. We provide the bank with an application, income statement and ID card scan, and we process on this basis where it is not always necessary to confirm the income with the analyst. The offer is also available for sale from brokers, what is more, even having such an offer in the system, you can get cheaper, e.g. by writing to me.
  • E-Money – the offer on a click is available only directly in the bank after providing the PESEL number. The system based on the turnover in the account will present us with an offer and then in a few steps, we will be able to enjoy the funds.
  • E-cash – just like in other banks, you can check in the system whether there are any offers for us or go directly to the branch. These offers are not available to brokers, so I can’t determine what to count on.

I am interested in the offer and what should I do next?

I am interested in the offer and what should I do next?

Write to me if you have questions because I have helped my clients many times in difficult situations. Offers for statements are a very good thing if our ability is not enough or if we have a problem to document income.

How to apply for Government Agency Loans: Online procedure and application method

How to apply for Government Agency loans, what are the procedures for obtaining these loans at subsidized rates and which requirements must be respected? The Government Agency Social Institute loans correspond to a rather complex offer, in which direct loans and those in agreement find space.

The ones we will discuss are direct funding, or directly managed by the Social Security Institute. There are two proposals, the Small Loan and the Multi-year Direct Loan.

The two public credit lines share these two lines of credit, i.e. civil servants and pensioners enrolled in the unitary management of credit and social benefits. The worker with a fixed-term contract can obtain and repay the loan only while his employment contract is active.

Social Institute loans for civil servants and pensioners: how to send the application

Social Institute loans for civil servants and pensioners: how to send the application

We come to the modalities relating to how to apply for Government Agency loans. Direct loans must be requested online, the services of the Institute’s official website ( Social will be used. The application procedures change, in detail, according to the funding examined.

The application from employees must be provided to the Institute by contacting the reference administration. Retirees, on the other hand, can use online services or patronage.

On the pages ” Apply for a small loan for Unitary Management of credit and social benefits” and “Apply for a direct multi-year loan for Unitary Management members”, manuals are available which detail the procedures.

Government Agency loans: rates and duration of direct loans

Government Agency loans: rates and duration of direct loans

In addition to having seen how to apply for Government Agency loans, we analyze the general characteristics of these loans. Small Government Agency loans provide a repayment plan structured in a period ranging from 12 to 48 months. They allow you to enjoy a fixed rate of 4.25% and do not concern particular uses.

Multi-year Direct Loans are associated with two types of repayment plan, five or ten years. It is a credit line based on the assignment of the fifth. The request for funding must be pertinent with the purposes set out in the Social Institute regulation. The interest rate is lower than the Small loan, it corresponds to 3.50%.

With regard to direct Government Agency Social Institute loans, therefore both the Small loan and the Multi-year direct loan, an online calculation function is available on the Social Institute website. In this guide you will find all the information to perform the simulation of the repayment plan.

Related articles related to Social Institute loans ex Government Agency

Related articles related to Social Institute loans ex Government Agency

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What is an investment loan?

Sometimes, however, it happens that the company does not generate such large profits to cover all expenses related to running a business.

In this situation, the solution may be one of the forms of external financing – an investment loan. It is a banking product that enjoys considerable interest among entrepreneurs. But what can we use it for?

What is an investment loan?

What is an investment loan?

An investment loan is a bank product that is targeted at companies and enterprises regardless of their size or legal status. This is a special-purpose loan that must be allocated to the development of the company. Fortunately, this concept is very broad, so we can use it in many different ways.

In order to receive an investment loan, the entrepreneur must reckon with the fact that the bank will require him to have a down payment, which is usually 20 to 30 percent of the investment value.

Investment loans are long-term loans with a loan term of up to 20 years, although of course, we can opt for a shorter loan period. The interest rate on investment loans depends on the company’s financial condition and possible risk, which is assessed by the bank.

Investment loan for fixed assets

The vast majority of enterprises take investment loans for the purchase of fixed assets. Among them, we can mention, inter alia, equipment, devices, electronics, machines, and vehicles necessary in conducting business activity. Tangible assets also include real estate acquired by the company and all other items that can help produce goods or offer services.

Intangible assets

Intangible assets

With the money from the investment loan, the entrepreneur can also purchase intangible assets to help him grow his business. These include patents and copyrights, as well as licenses. Their value is measurable, they have specific prices, which is why money from a loan can be allocated to them – especially if they are necessary for the development of our business.

Shares, shares, and securities

The funds obtained from the investment loan can also be used to purchase shares in another company and securities. They are a way to grow the company and increase capital. Many entrepreneurs have no idea about it, but buying securities is a good way to grow your business safely. When we use the loan, we do not have to freeze our own funds and worry about losing liquidity.

To sum up, the investment loan gives the company a lot of business opportunities. With it, we can cover most of the expenses that are necessary for the development of a company. Interestingly, we can also take out an investment loan for another investment loan, e.g. when we need a large amount and our company’s own contribution is too small. In a word, it is a financial product that every entrepreneur should know.