Benefits when paying out the entire credit amount earlier
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brockie
Apprentice
Joined: 12 Oct 2004
Posts: 3
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 Posted: 08/31/08 - 06:10 Post subject: |
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| I have recently been thinking about getting a credit. It seems to me that the best way to obtain some money, but the rates are pretty high. However, I would like to know what are benefits when paying out the entire credit amount earlier. Such an information could help me a lot, so if anyone could tell me, I would be grateful. |
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lannie
Apprentice
Joined: 16 Jul 2006
Posts: 8
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| Posted: 09/29/08 - 23:08 Post subject: |
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| Credits represent risk for both you and the lender whose money is on the line. The lender here is any bank that offers credit options and you need to go to them for any type of credit. If you have a good credit history you will be considered less as a liability. Now, the rates can be lower in that case, but if not, your options will dwindle and you will not be able to get good offers. Paying all the money in advance in effect makes the whole sum you pay lower, since the rates can go up over the years and effectively make you pay more (which is the whole point of long-term credits). Hope you find the info helpful. |
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