The credit despite dispo is the rule in a large number of German households. The repayment credit is only used to bridge short-term liquidity bottlenecks. Classic would be the last days of the month. The salary has been used up, all invoices have been paid, the remaining purchases are financed through the credit line. Most people also get the credit, without having applied for it or want to use it. Investments that can not be made from savings or current income are financed through low-interest installment loans.
The loan despite disposition for larger purchases.
The loan despite the dispo ensures that larger, payable over a longer period loans remain low-interest. Installment loans are not always tied to a particular purchase. They can equally be used to finance wishes, such as nice holiday trips to distant countries. Even if financing through a generous disposition would also be possible, the interest rate advantage of an installment loan is of crucial importance. In order to provide a benchmark, a syndicated loan is at interest rates of 15% and above. An installment loan, with an average credit rating, can already be concluded in the range of 6-7%. The utilization of the discount frame would be about twice as expensive.
Even with small loans, a loan can be worthwhile in addition to the Dispo.
Small loans are offered by many retail chains on very favorable terms. The credit despite dispo can be worthwhile just for purchases that would otherwise bring the checking account in the red. Almost everything can be paid today via the distributor-subsidized installment loans. The 0% financing is often available from a purchase amount of 150, – €. The installment loans then only have a short term. In the case of the credit line, however, the interest is due from the first day on. The flat screen is the same, whether you pay interest or accept the offers of the retail chains for interest-free financing.
The installment loan as a way out of the interest rate trap.
The credit despite disposition is advisable just when the disposition frame is regularly exhausted. In many cases, the current account then has no chance to “recover”. Every 3 months comes the interest settlement and already the unintended account balance is unavoidable. A good way out of the interest trap of Dispos is the installment loan. One should try to recalculate the entire amount and drastically reduce the credit limit of the checking account.
Of course, the installment loan as a loan despite Dispo, to reschedule the current account, come from the house bank. Nevertheless, it is advisable to also consider an online loan or a Bank loan. Even a loan from the private credit market is, as a loan despite Dispo, still lower interest rate than an overdrawn account.