You have called this website because you want to take out a cheap loan of 7500 dollars. In addition to the mandatory loan calculator, we offer you some tips and advice on borrowing. You can find loan offers of over USD 7,500 on the Internet not only from direct banks or online branches of large branch banks but also from some niche providers.
Credit exchanges that provide loans from private to private (P2P loans) are usually not taken into account in credit comparisons. The same applies to credit intermediaries. Such niche providers can certainly make interesting loan offers.
This applies particularly to loans for the self-employed and to loans requested by people with creditworthiness difficulties. Among other things, loan brokers help their customers to obtain loans without a Credit Checker.
Good Finance’s credit comparison
We recommend the Good Finance credit comparison. There are other loan calculators that allow direct settlement through the comparison, but we believe that financial check is ahead.
The financial check loan calculator has several advantages. It takes into account the main credit banks that offer their services online. In many cases, users can opt for the time-saving video identification process instead of the laborious post-identification process.
Some banks, such as Good Credit, can take out a fully digitized loan without paperwork. The loan will be transferred to the account with an electronic signature immediately after completion.
A computer with a camera is required for the video identification process and the electronic completion of fully digitized loans.
- Be sure to state the intended use. Some direct banks offer favorable special conditions for certain purposes. However, you are usually bound to the specified purpose.
- A loan of € 7,500 can be used to reschedule expensive overdraft facilities. A debt rescheduling is always recommended if the granted limit has been exhausted for a long time. Settling the overdraft with an installment loan can improve Credit Checker creditworthiness in individual cases.
Is a loan comparison worth 7500 dollars?
Who likes to give cash to banks? Certainly, the savings potential for a loan of over 7,500 dollars is not all over the world.
But the following examples illustrate that a loan comparison can still be worthwhile. We selected 36 months as the term and clicked “free use”.
We are not interested in the advertised interest margins. For our example, we choose the average interest rate as it results from the representative example.
As of the end of July 2016, we choose the best interest rate (3.98 percent), a medium interest rate (4.29 percent for the online) and a high-interest rate (7.02 percent – credit private). Only specific loan offers can be compared. So you have to get some offers.
Good Finance does this work for you automatically. All that is required is a single loan application. Good Finance then looks for the best loan offer for you.
The credit inquiries sent via the Good Finance portal are generally considered as condition inquiries. That is why they are Credit Checker neutral.
Choose the right term
The total interest costs depend on the chosen term. The longer the term, the higher the interest costs.
Because a loan with a term of 2 years is repaid faster through monthly payments than a loan for which a 5-year term is agreed.
Example: The effective interest rate should be 4.9 percent annually, the loan amount 7,500 dollars
Long loan terms result in low monthly installments, but they significantly increase the total cost of a loan.
The terms should, therefore, be as short as possible. Of course, this is also a question of economic opportunities. Of course, you have to be able to afford higher rates with shorter terms.
Tip: Pay attention to free special repayments and the possibility of free early loan repayment. This makes the loan more flexible and you can shorten the term if necessary. The upper limit of the term should always be the estimated useful life of the object financed by the loan.
The reason: After the usual life span, replacement procurement may be required, which must also be financed by credit. If there is still an old loan, there are additional costs in addition to the new loan.
Example: 7500 dollars are raised for the financing of a used car. The used car was two years old at the time of purchase.
The usual useful life of a vehicle of this type is six years. The term of the loan should not significantly exceed 48 months.