A 10.000 euro credit is taken up by consumers in Germany gladly, offers the sum nevertheless for many different purposes a comfortable financial clearance. With this loan amount consumers lie anyway in the trend. Thus, the Schufa Credit Compass 2015 has already found that the number of requested loans with a financing amount of more than 10.000 euros increases significantly. The 10.000 Euro credit is the lower limit.
Weddings Who would like itself in an appropriate framework, high-quality dressed and with following honeymoon the yes-word to give, sets with this credit height a meaningful financial framework. Renovation, refurbishment or modernization: Property owners have to renovate or modernize their properties at regular intervals. For major maintenance work, a 10.000 Euro loan very low set. According to the FinanceScout24 Credit Study 2014, the requested loan amounts in this area average 12.605 euros. According to figures from a 2015 study by GFK Finanzmarktforschung, around eight percent of loans taken out were used for renovation work.
By the way, landlords can deduct modernizations or renovations via advertising costs. Make sure that the cost of maintenance in the first three years after purchase does not exceed 15 percent of the purchase price. Otherwise you are not allowed to deduct the costs, but have to write them off over many years.
Used car: For a 10.000 Euro loan, borrowers can buy a midsize car as good as new or even an older luxury car. Here borrowers have the option of financing the vehicle via a conventional consumer loan. This gives negotiating potential for cash purchase. Or they use a special car loan, which attracts with cheaper interest rates, because the vehicle serves as collateral. According to the FinanceScout24 credit study, the average loan amount requested for used cars was 13.129 euros. In 2015, the market study conducted by GFK on behalf of the banking association determined an average loan amount of 11.000 euros for used motor vehicles. The same study found that 25 percent of respondents borrow for used cars. Motorcycle: The 10.000 Euro loan is often used for the purchase of a new motorcycle. According to the newspaper "Die Welt", the average loan for the purchase of a new motorcycle is between 10.000 and 15.000 euros. By the way, only two percent of borrowers use a loan to buy a new scooter, moped or moped, according to GFK survey from 2015.
How to find the right 10.000 Euro loan
So that you your 10.If you want to make the most of a EUR 000 loan, you should consider various aspects before taking out the loan.
Compare prices when buying a used car
Especially with used cars, prices can vary greatly from dealer to dealer. In addition, the brand as well as the condition of the vehicle decide how expensive it will be. You have it thus in the hand, how much car you get for how much money. Sometimes, for example, it can also be worthwhile to drive 100 kilometers to another city to buy a used car. It is best to use comparison portals on the Internet to compare prices. Of course, also check the offers of local dealers.
Check funding opportunities
Homeowners can benefit from government subsidies when renovating or modernizing their homes. It may be possible, for example, that you can finance your building with a loan from the Kreditanstalt für Wiederaufbau (K) significantly cheaper than with a loan from your house bank. Also check whether subsidies are available, for example, for energy-efficient renovation or conversion to alternative heating technologies. In the latter case, there are, for example, Bafa subsidies for the conversion of the heating system.
Examine needs carefully
Weddings Ask yourself before the celebration if you really want to go into debt for the wedding. Maybe even rather a small wedding celebration among close friends or family is enough? Perhaps the parents of the bride and groom will also give a subsidy, so that financing can be ruled out altogether. Modernization: Does the modernization of the property really lead to an added value? Also bear in mind that loans for modernization are usually only available to homeowners. As a renter, you should think twice about digging into your own pockets for home improvements. Used cars Do you really need a high-powered sports car or would a smaller vehicle for the city be much better?? Especially when buying a used car, ask yourself if the vehicle you want fits your actual needs. Older luxury-class sedans are often available at affordable prices with a 10.000 Euro loan can be financed. Think here however also of the maintenance, of the gasoline costs as well as the costs in the workshop.
Calculate modernization costs
In layman's terms, the cost of a necessary upgrade to a building is hard to keep track of. Get appropriate quotes in advance to anticipate the cost. Make a calculation on the basis of the offers yourself. Note that banks for the provision of loans for renovations usually require an exact renovation plan. The best way to do this is to enlist the help of a craftsman who can help you draw up such a plan.
No borrowing without budget
Draw up a budget in which you compare regular income and monthly fixed costs. The money available each month after this calculation serves as the basis for the maximum installment amount you can pay. A rule of thumb is that the installment amount should not be more than one third of the money available each month.
Determine the loan volume realistically
Even if a 10.000 Euro loan may seem sufficient at first glance, you should nevertheless determine the loan amount exactly. For example, renovations or modernizations can quickly increase costs. In this case, it is advisable to make the loan a little higher to have a buffer in case of unforeseen changes.
Step by step to the 10.000 euro credit
As a general rule, the higher the loan amount, the more varied the loan terms and conditions will be. Thus, small differences in the percentage of interest for a term of more than 48 months can account for significant differences in the cost of credit for a 10.000 Euro credit provide. Therefore, a credit comparison is necessary first.
Carry out credit comparison
Take the opportunity to compare loans online on the Internet. Pay attention in particular to the interest in relation to the term. Depending on the contractor, for example, this can easily exceed 1.000 euros in interest for a 10.000 euros of credit will be incurred.
Motorcycle financing: The loan comparison is particularly worthwhile, for example, in the case of motorcycle financing. Many banks have specialized in this. Offer correspondingly favorable conditions. This is when it pays to take out an earmarked loan. Used car financing: Many manufacturers offer loans through their house bank. The conditions of these loans may look good at first glance, but a comparison with loan offers from other banks is usually always worthwhile. This is the only way to find out which is the cheapest 10.000 Euro loan for used car financing is. Modernizations When comparing loans for modernization projects, make sure that unscheduled repayments are granted free of charge. In this way, you can repay part of the loan in advance without incurring an early repayment penalty.
Check the purpose of use
Usually you do not have to give any reasons for wanting a loan. However, in some cases it may be useful to talk to a bank advisor or in the online comparison about the intended use or. Pick another. Because often you can get a car loan or a loan for a renovation at more favorable conditions, since car and renovated house are solid collateral for the bank.
How to make your loan application
Your 10.000 Euro loan you can apply online or locally in a bank, after you have found the cheapest loan in the loan comparison. To visit the bank, bring your ID card for legitimation. If you apply for the loan on the spot in the bank, there is a chance that the amount can be paid to you or transferred to your account on the same day. This can be especially important if you need cash quickly to negotiate discounts on a used car purchase by paying cash.
This is what you need for a credit application
By a 10.In order to obtain a loan of EUR 000, the bank will check your creditworthiness. For this, a SCHUFA information is usually obtained. In addition, you must provide proof of regular income. This is usually done using bank statements from the last three months. Self-employed persons often have to submit a business analysis (BWA) and the last tax assessment in order to prove income.
If you can provide additional collateral such as real estate or, in the case of a used car loan, a vehicle, a bank can grant a 10.000 Euro loan granted. But there is never a guarantee. Basically, the chances are always best with a good Schufa as well as solid income relations.
Regularly check SCHUFA score
Make sure you meet your payment obligations regularly and have old SCHUFA records deleted if they are time-barred. In this way you can improve your SCHUFA score. Thus increase your creditworthiness.
Videoident or Postident for online credit application
When you apply for your 10.000 Euro loan application online, you need to legitimize yourself by videoident or postident after an initial verification. For this you need a valid identification document. Videoident verifies your identity using the video camera on your smartphone or PC. For the Postident procedure, visit a post office with the Postident coupon, present your identity card. The post office then sends your loan application together with the Postident coupon to the bank. After successful verification of your documents, the loan amount will be transferred to your account.
Play it safe when getting married
If you want to finance your wedding, it is advisable to take out cancellation insurance in any case. If the wedding cannot take place or has to be postponed due to illness, this insurance at least covers the cancellation costs. You can then use your credit in full for the new appointment.
Add a second borrower
If you have a 10.000 Euro loan for a wedding, you can improve the loan conditions if you enter two borrowers. For this purpose, the spouse or a parent is suitable. Also take into account that you can use gifts of money for the wedding to repay the loan. Therefore, make sure that free unscheduled repayments are possible.
Sensible term: the shorter the better
At 10.000 Euro loans, terms of between 12 and 84 months are possible. Always take into account that the shorter the term, the more favorable the loan becomes. However, this also increases the monthly burden.
For used car financing, the loan amount should not exceed the vehicle's fair market value. For example, if you buy a car for 10.000 Euro purchase and you choose 84-month financing, the car should still have at least 5 after 42 months.000 euros will be worth.
Special features at 10.000 Euro Loan
Keep in mind that for higher credit amounts over 10.000 euros in the case of modernization, some banks require an equity ratio. This is usually between 20 to 30 percent for modernization credits. If you want to finance without equity, you should therefore keep the loan amount as low as possible as a rule. Moreover, with a low credit amount, a financing plan is rarely necessary.