Good Finance, belonging to the Good Credit group, offers a financing solution suitable for those who are retired and need to have money available for any purpose.
We are talking about Good Finance Pensione, an interesting loan that allows you to have up to $ 90,000 (not all retired loans allow you to go that far) to be repaid, as usual in these financial solutions, by paying fixed rate installments and within a maximum of 120 months.
There are three advantages indicated by Good Finance on its website regarding this loan:
- ease of repayment, as the installment is paid through a deduction from the net pension
- flexibility, since up to 90,000 dollars can be requested to be repaid within 120 months (10 years)
- sustainability, since the maximum amount that can be paid each month, is equal to a maximum of 1/5 of the net pension
Loans under the INPS agreement
Good Finance signed a new INPS agreement on November 14, 2013 and this guarantees all pensioners of this social security institution a “privileged” treatment in granting the loan. Interest rates, in fact, are very extremely advantageous. In addition to INPS pensioners, these favorable conditions also apply to pensioners from other social security institutions, therefore not only INPS or ex-INPDAP.
Going to read the small print, here are the main features of this financing:
- maximum age of the applicant: 90 years after payment of the last installment
- maximum installment: 1/5 of the net pension, constant for the entire repayment period of the loan
- minimum installment: $ 50
- duration: up to 120 months
- installment collection fees: 0 $
- management fees: 650 $
- investigation costs: 1% of the residual capital. There are no commissions if the residual debt is less than or equal to $ 10,000
- distribution costs: 250 $
- stamp duty: 16 $
- loan insurance: YES, to be paid by Good Finance Finance and not paid by the customer
Interest rates deserve a separate section, as Good Finance uses a different rate depending on the situation of the applicant. These rates start from a TAN of 5.85% (APR of 8.65%) for those who, at the expiration of the loan, are less than 60 years old, and reach a TAN of 13.69% (APR of 17.49 %) for those who, on expiry of the loan, are between 85 and 90 years old.
For a complete view of the interest rates and of all the economic conditions of the loans for pensioners with the transfer of the fifth proposed by Good Finance, we refer you to the official website.
Other Good Finance Banca solutions. In addition to the Good Finance Dynamic Pension Loan, Good Finance also offers loans for employees, both private and public, granted on equally advantageous terms.
Let’s talk about loans for cosmetic surgery such as breast augmentation and liposuction: is paying in installments convenient? Loans for cosmetic surgery, or plastic, are a solution increasingly requested by Italians who are looking for solutions to do this or that touch-up by paying it in installments.
More and more people are trying to divide the cost of the cosmetic surgeon into monthly payments, considering that the final expense could be decidedly high, depending on the type of surgery you want to do.
Loans for cosmetic surgery, how to get them?
The solutions can be two:
- contact the surgeon where the surgery will be performed directly (loans aimed at);
- apply for funding from a financial or online company (non-targeted loans).
Ask at the doctor’s office
The request for loans at the doctor’s office is certainly more convenient than all the other solutions because the doctor’s office will take care of all the necessary practices.
However, attention must be paid to the economic conditions that apply, given that the interest rate may not be the lowest of all.
Ask at a finance company or online
Although there is more “work” to do for the applicant (who must take care of sending all the necessary documents to the finance company), it is possible to find the best rates on the market, especially online.
There are financial companies like Findomestic or Signor Prestito that make 100% online practices, even faster and more convenient.
There are no particular requirements that must be met in order to apply for a loan for cosmetic surgery, if not the fundamental ones that are also found for all other loans, such as:
- have a paycheck or a tax return (for self-employed people);
- have a pension;
- be aged between 18 and 75 years old;
- Depending on the case, bad payers and protesters can also apply
You must also present a valid identity document, a copy of the tax code and, for foreigners, a copy of the residence permit (if necessary).
How much does an intervention cost?
Depending on the type of intervention that must be done, the expense can also be very high.
Here are some non-exhaustive examples, because for a precise quote you need to contact your doctor:
- mentoplasty about $ 2,500
- cheekbones from $ 2,500 to $ 7,000
- rhinoplasty about $ 4,000
- breast augmentation from 4,000 to 9,000 $
- liposuction about $ 5,000
- tummy tuck about $ 10,000
Considering the expense, to be able to deal with it in the most peaceful and serene way possible, you can undoubtedly request a loan for cosmetic surgery and choose to repay it usually from a minimum of 12 to a maximum of 72 months.
Cosmetic surgery loan, convenient?
To answer this question, let’s go a little into the psychological field: if you believe that cosmetic surgery is fundamental, for any reason, then the answer could be positive.
If, on the other hand, it is only a minimal habit, then you might want to think about it a few times before making a decision.
This speech obviously applies not only to the request for funding but also and above all to the intervention itself, considering that, even if it is an intervention with aesthetic purposes, it still remains a surgical operation, with all the associated risks of the case.
The lender presents an interesting loan solution for pensioners, let’s see in detail all the features of this loan, including the conditions and the installment calculation.
The loans for pensioners are thought to offer money to those who have a retirement or old age: the financing terms also seem advantageous.
Obviously, the certainty of finding the best loan for your needs is obtained only by comparing the best loan quotes, which can be done safely even on the internet on secure sites.
Loans for retirees
The solution that the lender proposes for retirees is the Loans of the pension , a loan that is confirmed to be fast and quick and with which you can have a sum of money without a particular pre-established maximum limit as everything depends on the amount of the transferable installment .
By transferable installment we mean, at most, an amount equal to 1/5 of your net pension. This is practically the maximum monthly amount that can be paid from time to time to repay the requested loan.
The advantage of requesting a loans is to allow everyone to have a sum of money that allows you to finance the purchase of everything you need without particular problems or concerns.
Characteristics of the loans for the retirees
- Maximum age of the applicant: 80 years after payment of the last installment
- The repayment duration ranges from a minimum of 36 months to a maximum of 120.
- The timing of disbursement is reduced to a minimum, excellent news for all those who need to have a quick and fast loan .
- There are no extra costs to be incurred , such as those related to early repayment costs or any ancillary fees.
- The life insurance , required by law, is the responsibility.
- Early repayment costs : zero
- Accessory commissions : zero
The necessary documents that must be provided are the following:
- valid identity document
- fiscal Code
- pension slip
- residence permit or documents attesting residence for at least 5 years (in the case of loans for foreigners )
- if another loan is renewed, the relative extinction count must also be provided
If the income is below the garnishment exemption limit, banks can refuse a loan. credit bureau is an important factor in creditworthiness. credit bureau collects data from customers who have not paid their loans or have not paid their bills carefully. With a bad credit bureau, it is often not possible to get a car loan with a bad credit rating.
In general, one can say that the worse the credit bureau is, the worse the credit rating is viewed. In order for a car loan to be approved with a poor credit rating, there should be at least one income that has a attachable portion. If the bank allows the provision of collateral, borrowers should take advantage of the opportunity. Credit collateral is also required if the creditworthiness does not then rise to 100%.
Car loan with poor credit rating – preparation is important
Before car buyers with poor credit ratings look for a loan, they should do the preliminary work. It is important to know whether the creditworthiness is sufficient to obtain a car loan with poor creditworthiness.
Therefore, self-disclosure should be obtained from credit bureau before applying. The borrower can then determine what the negative entries are all about. Perhaps some or an entry could be declared done, which would of course increase the credit rating. In addition, all important creditworthiness documents should be carefully compiled.
Required copies are then necessary and the check whether the identity card is still valid. As proof of creditworthiness, the last three salary slips may also be required. Account statements from the same period. A so-called checkout should also be made. This creates an overview of whether a loan installment and in what amount can be paid.
If the creditworthiness is classified as very bad, the question of credit collateral should be raised,
Credit collateral – car loan with poor credit rating
If the lender considers the credit rating to be very poor, a second borrower or a guarantor could increase the credit opportunities. However, these measures should only be used if the car to be purchased is to be used for the way to work. So if there is an important reason for buying a car. For a luxury purchase, no strangers should be drawn into the loan agreement.
In addition, a guarantor needs to be made aware of the risks of his guarantee. The guarantee is entered into his credit bureau, which can worsen his credit rating. If he then needs a loan himself, he may have to name a guarantor himself. The situation looks similar for the second borrower.
But banks also accept property collateral. This can be real estate, life insurance with a surrender value or savings. With one of these loan collateral, the chances of getting a car loan with poor creditworthiness will increase.
Which lender is the right one
Branch banks are usually very reluctant to take out a car loan with poor credit ratings. The house bank that knows the customer refuses to approve the loan. To relieve them, one has to say that they are bound by strict rules. The borrower can try his luck at the many online banks.
These banks do not have such strict requirements and take a calculated risk. However, the borrower must expect higher interest rates.
Online banks also require collateral for car loans with poor credit ratings. For example, the aforementioned credit collateral could also be offered to the online bank. Many lenders insist on taking out residual debt insurance for loans with poor credit ratings. However, this insurance is very expensive and drives up the cost of credit.
Not every borrower can still pay them. Therefore, a guarantee is often chosen if a person of trust agrees to provide a guarantee.
Does it have to be the expensive new car?
There are several thousand USD between a new car and a used car. If the borrower chooses a used car, he does not need such a large loan amount for the car loan with poor creditworthiness. He receives a used car in the four-digit range. A small loan would suffice as a car loan with poor creditworthiness.
Often, the banks close their eyes on a rather low loan amount and grant a loan. The borrower does not pay such high credit rates and the term is not that long. Sometimes the purchase price could also be paid from your own resources. If these are not available, a small loan with the aforementioned collateral can also be successful.
Car credit with poor creditworthiness – credit bureau-free
If the bad credit rating only results from the bad credit bureau, a foreign loan can be the solution. However, the car must not cost more than 7,500 USD, because that is the maximum loan amount for a loan without credit bureau.
The credit without credit bureau does not require a credit bureau check, and the credit is not entered. However, the borrower must have an income that shows a high share of attachment. In addition, permanent employment is very important. The bank does not query credit bureau, but does take a look at the public debt register.
If the bad credit rating stems from an oath of disclosure or a garnishment, there will also be no credit bureau-free credit. The term of these loans is 40 months and cannot be changed.
These loans should also be paid correctly, since the wages are seized immediately in the event of a loan default. The borrower already signs the assignment of the salary with the loan application.
Motorcycle financing is a specific form of loan for the purchase of a motorcycle or scooter, whether new, used or zero kilometers, which requires deferred payment of the price, in monthly installments.
The motorcycle loan is available on the market in general with durations from 12 to 60 months, at a fixed and variable rate, with a maximum amount limited to around 30,000 USD which can cover up to 100% of the purchase price of the motorcycle. The interest rates applied are generally lower than normal consumer credit since the repayment of the debt is guaranteed by the motorcycle which being a registered movable asset can be subject to foreclosure.
Being a finalized loan it can be proposed directly by the concessionaire, by virtue of the agreement stipulated with a financial institution. In this case, the dealer, against a commission for the procurement of customers from the bank, offers the customer financing and manages the entire procedure, from the collection of documents up to the approval of the credit.
Once the loan has been approved, the finance company pays the agreed amount to the concessionaire, while the applicant who purchased the vehicle makes the installment payment according to the agreed amortization plan.
Therefore, the customer does not have the sum of the motorcycle loan; this is paid directly to the dealer. The applicant simply takes out the motorcycle loan and repays the monthly installments.
Motorcycle personal loan
The request for financing in the dealership has advantages and disadvantages: on the one hand it can facilitate a greater discount on the purchase price, by virtue of the commission collected by the dealer. On the other hand, it does not allow the comparison of multiple financing products and the consequent choice of the most convenient loan, that is, with the lowest APR.
This is because the dealer has in most cases an exclusive agreement with a single financial company.
Alternatively, the motorcycle loan can be signed by the applicant independently with a bank or a trusted financial company before purchasing the motorcycle. In this case, the applicant receives the sum agreed by the credit institution on his current account and then proceeds to balance the purchase price with the motorcycle dealer.
Choosing the loan independently allows the applicant to compare several financing offers and to choose the most convenient one, for example with the lower APR. Also in this case the applicant can freely dispose of the sum received on loan, for example by associating the purchase of the motorbike with the accessory costs (transfer of ownership, stamp duty, insurance) or other needs for family liquidity.
Obtaining a motorbike loan requires the normal guarantees provided by consumer credit or the availability of a continuous and reliable monthly income to repay the debt installments and a good creditworthiness. In fact, even in finalized loans, the data are checked at the risk center : any negative reports lead the financial company not to grant any loan.
To limit the risk of insolvency, credit institutions often ask for the signature of a co-obligee or a third-party guarantor to guarantee the success of the transaction. This is a fairly common request, in the presence of particular conditions (such as for example an applicant with a recent working seniority or for a particularly high amount).
The elements of the contract
The law states that a motorcycle loan contract must contain the following elements:
- the interest rate applied;
- any other prices and conditions applied, including higher charges in the event of late payment;
- the amount and method of financing;
- the number, amounts and due dates of the individual installments;
- the annual percentage rate of charge (APR);
- the detail of the analytical conditions according to which the APR can possibly be modified;
- the amount and reason for the charges that are excluded from the calculation of the APR;
- any guarantees required;
- any insurance coverage required and not included in the APR calculation.
Failure to pay an installment
The interruption of the repayment of the loan implies the immediate default towards the lender and the risk of unpleasant consequences:
- the interest due would be increased, with the application of a late payment;
- there is a risk that your name will be included in the list of late payers and / or reported to the credit protection bodies (the Central Credit Register), which will share the information with the entire banking and financial system. The result will be a worsening of the customer’s creditworthiness and a consequent greater difficulty in obtaining credit in the future.
Failure to punctually pay even one installment authorizes the lender to unilaterally terminate the contract. The customer will be required to pay all bank and protest charges as well as all the costs incurred by the Institute to recover the sums due, in addition to a possible penalty.
The law guarantees the consumer the possibility of carrying out the early repayment of the loan. If the consumer decides to choose this option, in addition to the reimbursement of the residual capital, he could pay a penalty that must not exceed, by law, 1% of the financed capital; the exact terms of the penalty are shown in the contractual conditions signed.
Criteria for the first home loan.
Below we schematically illustrate some specific evaluation criteria of the first home loan.
- Risk policies : each Institute applies its own risk policy in evaluating requests, based on the statistical data it possesses (credit scoring). These data constitute the tool that allows the Institute to keep insolvencies below a certain level.
- Income level : the acceptance of requests is normally also subject to the appraisal of the applicant’s level of income and the relationship between the latter and any repayment installment.
- Credit reliability : the creditworthiness of the applicant is of great importance. It is important to stress that this assessment has no “moral” meaning. The Institutes merely estimate the level of risk associated with each request, also on the basis of the indications transmitted by the Risk Centers. If the applicant’s credit history has some “flaws” (delays in repayments of previous loans, outstanding, etc.), the probability that the request will be accepted is obviously lower. In some of these cases, a valid alternative is constituted by the Transfer of the fifth: this solution, by offering the appropriate guarantees to the lender, allows the adoption of more flexible evaluation criteria.
The economic conditions
When choosing between several financing offers, it is good to consider the overall cost of each loan, without limiting itself to the evaluation of the monthly installment only. However, this is not a simple operation since the expense items of a loan can be numerous (amount disbursed, interest, ancillary charges, any initial expenses, insurance costs) and are not easily measurable immediately.
In general, the elements that should be considered before signing a loan agreement are:
- TAN (Nominal Annual Rate) : represents the interest rate, expressed as a percentage and on an annual basis, applied to the financed capital (sometimes gross of any insurance costs or preliminary costs). It is used to calculate, starting from the amount financed and the duration of the loan, the portion of interest which will be paid to the lending institution and which, added to the principal, will determine the repayment installment.
In our section dedicated to the calculation tools, you can calculate the amount of the monthly installment and the total interest expense by indicating the main characteristics of the loan you intend to apply for.
- APR (Annual Global Effective Rate) : is a measure, expressed in percentage terms, with two decimal places and on an annual basis, of the total cost of the loan. Unlike the TAN, the APR is inclusive of any ancillary charges such as preliminary costs and insurance costs, which are charged to the customer.
However, the Italian legislation allows, under certain conditions, a certain discretion, excluding or including some items in the calculation of the APR: insurance costs, for example, if optional, can be excluded from the calculation. So pay attention and carefully consider your overall expenditure, analyzing each time the items of the offer that is proposed to you.
In our section dedicated to calculation tools, you can calculate the APR of the loan and compare loans with different characteristics, and easily establish which is the financing with the most advantageous economic conditions.
There are various reasons for wanting to replace a car loan. For example, because the old loan expires and the final installment is due. But more often, the old credit is simply too expensive. It is easy to repost the car loan.
We asked four important questions about the topic and also answered it immediately. At the end we summarized everything and describe the debt restructuring step by step.
Can I reschedule any car loan?
Basically, any installment loan can easily be reposted. Also, replacing a car loan is not a problem, because he is also considered installment loan. Whether the vehicle registration document (Part II of the registration certificate) has been deposited does not matter. The special arrangements for secured loans apply only if a mortgage or mortgage has been agreed, not for car loans.
For car loan agreements concluded before June 11, 2010, the old regulations still apply. However, there should not be many of them, often the maximum loan term for car loans is seven or eight years anyway.
Any deviating regulation in the credit agreement is invalid. This also applies to loans that existed before the entry into force of the relevant EU directive on 11 June 2010. There are only differences regarding the costs (see next chapter) and the notice period. This is for old loans namely three months, as long as the borrower must be patient. Then he has to transfer the transfer fee within two weeks.
So replacing a car loan is not a problem, no matter what is in the loan agreement. Simply write a letter to the bank that the loan is terminated. The notice period is usually specified in the contract, it may amount to a maximum of one month for loans completed after June 11, 2010.
What does the car loan replace?
In 2010, the EU created clear rules on the costs of car loan repayment with its new directive. The banks are allowed to retain a maximum of 1.0 percent of the prematurely repaid amount as a prepayment penalty, with a remaining term of less than one year even only 0.5 percent.
For existing contracts this rule does not apply, here only it is stipulated that the banks may charge the costs of processing. In many cases, debtors may even get away with it cheaper than with a prepayment penalty.
In addition, many contracts set the right to free special cancellations. Of course, the car loan is easy to replace, of course, if a repayment of up to 100 percent is free. Often, however, only partial repayments are free of charge, for example, 50 percent of the balance. Consumers can make special repayments at any time and in any amount. In addition, there is also the option of repaying the car loan ahead of time. The bank releases the usual prepayment fee to the customer.
Applicants should definitely use that as well. For example, if the borrower receives a professional bonus, he or she may use it for a special repayment free of charge. Theoretically, he can set up a standing order on the credit account each month to pay off the car loan faster.
What do I have to look for in the new loan?
As a rule, a new loan is not a problem – and often cheaper than the old one given the low interest rates.
These points should be repaid to borrowers in car loan but do not forget:
- Determine height.
- Adjust rates and select runtime.
- To arrange special repayments.
- Find cheap loan in the comparison calculator.
1. Determine loan amount
The new loan does not necessarily have to be as high as the car loan that you want to replace. Because maybe you have saved some money. This can be used so that the loan amount is slightly lower.
The interest rates are currently low, but a comparison is still worthwhile.
This saves a lot of money, because a lower loan amount means less interest – and thus more repayment. In individual cases, even the interest rate may be lower because the debt burden is lower overall.
2. Redefine installment height
Regarding the car loan, the installment amount should be questioned as well. If the rates have been too high and you have therefore constantly take the Dispo to claim, then the new should be slightly lower.
Each more repaid USD saves interest. Especially with a low residual debt, the residual debt reduces the interest burden and thus automatically increases the amount of the repayment. Remaining debt for a loan of 100,000 USD at 1.73 percent interest and an annual rate of 200.00 (blue), 300.00 (black) and 400.00 USD (gray).
Usually it is the other way around, the salary has increased and you can now afford higher rates. This should definitely be used as well, because every USD of money paid back saves interest. Finally, the monthly interest payment is always calculated according to the current debt level. Fewer interest rates mean a higher repayment at constant rates, which in turn leads to even less residual debt.
And the next bigger issue is coming. Well, if you have reduced the old debts as far as possible or even saved a bit. In the long term, after all, you do not always want to pay off debts, but also build up wealth.
3. Arrange flexibility
Of course, worse times can come again. Then it is good to be able to expose a rate or reduce its height permanently. Or you can increase it further if the next salary increase or a better paid job follow.
A new, better paid job was found? Then it is good if you can increase the rates – or at least can make special repayments for free.
Especially generous is Good Finance. The classic among installment loans with instant information, for example, allows special repayments at any time, which can either shorten the term or reduce the installments.
4. Compare and replace car loan
Who knows what he wants, can now start with the comparison. This can be done, for example, with a comparison calculator. There you simply enter the amount of the loan and the term. Then the algorithm looks for the provider with the lowest interest rate.
A look at the conditions of the banks with the lowest interest rates now reveals which bank makes the cheapest and best offer. If no financial institution offers the desired special repayments and rate changes in the front seats, it is worth considering what these extras are worth. How much is one willing to pay for it?
However, you should expect not to get the top interest rate for one of the best placed. Because that is usually only for applicants with the best credit rating provided, so good and secure income and little debt. In individual cases, it may even be that the second or even third placed in the individual case is cheaper.
It’s easier if you just decide for one of the top three in our test. Finally, we included both the terms and the service and the amount of interest. The winner is the Cream Bank, followed by Santander and Targobank.
Replace car loan step by step
First, applicants should look for a new loan. Because only when they know on what conditions they can repatriate the car loan, one can also decide on a rescheduling. Maybe you do not get the cheap interest rate at the banks, with which one has expected. Then it may be that the debt restructuring is no longer worthwhile. Of course it looks different when a closing rate is due. Then there is no way around the new loan.
If you pay attention to low interest rates and repay quickly, you can probably save a bit to pay off your car at the next car.
Before paying off the car loan applicants have to worry about the desired amount and the rates. If a prepayment penalty has to be paid, this should be taken into account when choosing the loan amount.
If it is clear from when the loan can be disbursed, the old loan must be terminated. Partly, banks offer to replace car loan, that they transfer the loan amount directly to the old creditor. Otherwise, the money should be on the account for a few days before paying the installment.
Reposting a car loan is easy – and often worth it. The easiest way to find a new loan is to use the comparison calculator – or simply select the car loan test winner 2019, the Cream Bank, directly. This saves work and the loan offers low interest rates as well as good conditions, such as special repayments, installment changes and installment breaks.
Starting a business in Brazil is not an easy task, especially when you are a micro or small company. In this article, we will better explain one of the factors that cause this difficulty, how you can circumvent it and get great deals.
Bureaucracy and interest rate affect business emergence and growth
Unfortunately in Brazil it still takes months to be able to start a business and those who suffer most from this delay are the micro and small business owners, who do not have the time, legal, accounting and financial advice necessary to help them in this stressful stage.
While in Finland a person can start a business in less than a day, in Brazil this deadline reaches 107.5 days, which puts us in the 123rd position in the ranking, according to a study by the World Bank. And to close a business, the bureaucracy is even worse: it takes an average of 4 years to perform such an action.
But if you are reading this article, it seems that you have already overcome this barrier. So now, let’s help you with tips that make it easy to get some business credit online.
How to Find the Best Credit Line for Business
Here goes the saying: who seeks, finds!… Calm down! We know that the entrepreneur does not always have time available to walk among the various financial institutions in order to find the best condition to get a loan on advantageous terms, so we will present some data that can save you time and money.
This type of transaction is intended for entrepreneurs who are in need of money in the short term, as interest rates vary between 3% and 12% per month, and works similar to the anticipation of income tax (IR) and the thirteenth salary.
The benefits of doing so are that you are not making a loan itself, but only using something that is already in your business (a postdated credit card payment or credit card purchases, for example); and also have faster release of resources. This helps you gain greater advantage from your partners and suppliers when purchasing a new product or service.
Please note: Choose to anticipate receivables from customers you know will not default on payment so that the lending financial institution does not place restrictions on your business. Another reminder we give is that you always study the profile, history and reputation of your consumers.
Lastly, as interest rates vary, research the amounts charged among the various financial institutions and try to parcel out the receivables prepayment in the fewest months. This way, the condition is much more advantageous.