We decided: it’s time to buy a house or change the car. In the first case we spend time reading the ads and visiting houses and apartments, in the second we study the models and visit the dealers that most interest us. Then, finally, we find the home of our dreams or the car that meets our needs.
Now comes the time of contracting and we have to decide how to pay. Did not we think about it before? The important thing is not to choose the first solution that happens before us, because of the rush. It is better to start studying your economic situation and the opportunities offered by the financing market to get prepared when contracts are signed.
The first thing to understand is what is the maximum installment that we can repay (” purchasing power “), in order to find a suitable proposal for our economic situation. We must also know our creditworthiness and be sure to provide the bank or credit institution with the necessary solvency guarantees. To discover our creditworthiness and to have an adviser available to us, we can contact Mettinconto, Mister Loans’s personalized consulting service.
The second important thing is to know the real cost of mortgages or loans that are available on the market (the annual percentage rate or Taeg), any additional expenses and insurance policies (mandatory or not).
We must also pay attention to the information contained in advertising communications and contracts and know the main terms used in consumer credit.
With these elements we should be able to enter the bank aware and informed about the possibilities, costs and our rights.