The long-awaited summer vacation begins this weekend, with getaways, trips, and relaxation. And enjoy leisurely driving, as the car is one of the most popular modes of transportation for vacations.
To avoid surprises, it is best to tune up the vehicle, which is a thorough inspection that confirms that it is ready to face long journeys safely.
It is possible that the car will need to be repaired, which will devastate the vacation budget. One option is to finance the arrangement so that it has as little impact on the assembled plans as possible.
1.- Consumer loan:
It is one of the best-known financing options and, after mortgages, with which higher amounts can be obtained. Also, from the list, it is the one with the lowest interest and the repayment term. From the time it is granted until the money is in your account, it can take several days, between 72 hours and a couple of weeks. In addition, it is likely that you will not be able to apply for it to fix a car breakdown, however complicated it may be, since most entities require a minimum amount.
2.- Request a payroll advance:
It is a financing option that banks provide to clients with a good track record (they have not been on a delinquent list, for example) and a good profile (they have stable income) who, in addition, , they have several products contracted with them. the money is in your account quickly: 24 or 48 hours after the request is accepted and interest is not usually charged. At most, some commission. The maximum amount to which you can aspire is limited and is the sum of a specific number of payslips, between three and 12. The return period varies depending on the amount.
3.- Pre-granted loan:
Also intended for clients with a good track record, it is usually the entity that informs of the possibility of contracting it. You can subscribe online, by phone, at the bank’s branches or ATMs, and the money is in your account about 48 hours after approval. That is, more expensive than a consumer loan but cheaper than a credit card.
4.- Credit card:
Gives the possibility of deferring payment for purchases made with it. There are entities that offer the option of how to pay them: all at once, pay a percentage of the debt, a fixed monthly… If the card is operational, the amount is available instantly. The limit depends on the customer’s profile and the type of card. Interest is higher than on loans, both for consumption and pre-granted, and in some cases can exceed 25%.
5.- Mini loan:
Due to their characteristics, they should only be used on exceptional occasions, not as a regular financing method since there is a risk of over-indebtedness. The amounts, between 800 and 1000, the lowest among the products presented, are available almost at the time the loan is granted. And they have to be returned in a single payment within a month (sometimes two). The fees that have to be paid in a mini-credit are higher than the interest on a credit card.