A 7000 euro loan is not an unusual loan request. Depending on the personal creditworthiness and the intended use quite different credit providers come into consideration.
7000 Euro loan – at leisure or earmarked?
Not every wish for a 7000 Euro loan is oriented to a specific purpose. It would be possible with this loan amount to buy a good used car or another consumer desire. In the final phase of the training could reach 7,000 euros equally well the desired education level. Assigned loans are often much cheaper than loans at leisure.
The purchase of the good used car can be financed by the earmarking, about one to two percentage points cheaper. With an education loan with government help the interest rate jump is even bigger. In addition, the education loan does not have to take account of personal creditworthiness. State training credits are awarded regardless of the credit status.
Cheap provider of consumer credit
If the 7000 Euro loan is only partially intended for a specific purpose, then the search for loans without earmarking is recommended. In this way, for example, a portion of the total can be used to balance the current account. The remaining balance is used for consumption. This can be a renovation measure carried out or simply a relaxing holiday booked.
With normal or good credit rating, finding a loan is quite easy. Loan search engines always know the currently cheapest interest rates. According to the search specification, the programs list all offers automatically according to the cheapest interest rate.
Just clicking on the best placed offer is still not recommended. The lending conditions vary greatly. Special conditions, such as a special payment right or the waiver of processing fees can pay off.
Away with a lack of creditworthiness
A loan amount of 7,000 euros is already quite a decent amount. Unfortunately, not every interested party is qualified to receive this loan amount from any provider. With a not so good credit rating three possibilities for the loan approval remain:
– Guarantee of a solvent sponsor
– Reduction of the loan amount
– Change of credit provider
The guarantee of a solvent guarantor is one of the standard solutions to compensate for a credit problem. The guarantee ensures credit security, although the guarantor is not directly charged with payments. Only in the case of credit problems does the guarantee statement have an effect.
Possibly the loan amount is very generously planned. Small loans are tested on simplified terms. The reduction of the loan amount to a maximum of 5,000 euros can also be a possible way out in credit problems.
Switching to personal loan offerings could also solve the problem. Commercial credit providers are subject to numerous lending requirements. First, there are legal requirements that have to be met. Special stumbling blocks for lending can result from in-house regulations. The private investors of a private credit portal do not know these problems. You can give away the 7000 euro loan regardless of complicated regulations.