Buying furniture can quickly become an expensive affair. Especially when an entire apartment or even a house is to be refurbished, it quickly happens that the planned budget is exceeded. But those who do not want to wait with the device, will go in search of a loan for the furniture purchase. Where this can be found and which alternatives are available for selection will be explained in more detail below.
Financing directly from the dealer
Retailers from the furniture industry know the problem with too fast exceeded budget only too well. However, in order to realize high sales, most furniture stores offer financing. Of course, this loan is just right for customers to buy furniture, because in this way, the question of payment can usually be settled in the simplest and most comfortable way. Experience shows, however, that it is usually the hastily completed loans that are ultimately the most expensive to book. In addition, furniture stores like to undercut each other and therefore 0% financing is not uncommon. Cheaper it is not, you might think. If you refer to financing as such, in many cases it will even be true. But even 0% financing has its price, and if there is not just clearance sale at the furniture dealer, the credit costs are added to the furniture price.
In a comparison should therefore necessarily be compared to the price itself. Even if the 0% financing should seem so tempting, it could still give the same furniture much cheaper, even if there is no 0% financing offered as a loan for the purchase of furniture. The total costs are therefore crucial.
Credit for the furniture purchase from the bank
The bank should not be lost sight of as an alternative. Although you will certainly find no 0% financing here, but it can be negotiated when buying furniture discounts, if you appear there as a cash payer. Depending on the sum of the credit for the purchase of furniture should ultimately show up, the bank basically offers two options.
Smaller amounts can still be financed through a credit line. However, before this is claimed, a quick repayment should be ensured, as credit lines are expensive. They are easy to apply for and can be accessed flexibly. It does not require any notifications to the bank after the application, if the current account is led in the desired one. The decisive factor here is the amount of the credit line, which in turn is calculated from the amount of the regular monthly income. This may not be exceeded, otherwise the interest rates can skyrocket. In this case one speaks of an overdraft of the account.
If larger sums are to be financed by credit for the purchase of furniture, however, rather a installment loan offers itself. Such a can be applied for many banks from as little as 2,000 USD, which here is no longer expensive credit needed more. Whether the installment loan is requested at your own house bank or elsewhere, should be decided on the basis of the cost of borrowing. These are easiest to compare with the help of the effective interest rate, since all costs relevant for the loan have already been taken into account here. Banks will hardly find a special loan for the purchase of furniture, which is why it should rather be looking for a direct or instant loan. These can often be applied for directly on the Internet.