Think of a new kitchen or the complete renovation of the apartment. A used car could also be financed from it. You can see reasons there are many for the 8000 dollar loan. In order to get the loan, some conditions have to be met.
Is the overdraft facility a credit solution?
The quick and uncomplicated loan is still the overdraft facility. Almost every bank customer can have a more or less high overdraft facility. Banks make the overdraft facility available to customers when regular income is booked. The amount depends on the customer’s income. If the employee earns around 3,000 USD a month, he may well have a disposition over 9,000 USD.
However, the overdraft facility is almost completely exhausted at 8,000 USD. If there are urgent repairs or urgent bills, there is almost no scope left. In addition, the disposition is only intended for short-term use. On the one hand it is very expensive and on the other hand it can inevitably lead to a debt trap. This is the case if the overdraft facility is only used and nothing ever stops. The overdraft facility adds up automatically.
However, if the overdraft facility can be returned after a few months, for example because a savings contract is then paid out or an insurance sum is due, the use of the overdraft facility is OK. The overdraft facility has an interest rate of 15% at some banks. If the customer then exceeds the credit line granted, the bank charges itself further interest. If the time comes that the incoming salary no longer covers the overdraft facility, the customer should act and convert it into an installment loan.
Find a cheap loan with the loan comparison
Any bank can take out an 8000 dollar loan. Many customers therefore contact their house bank. They have been customers there for a long time, and the bank knows the customer’s finances. Many customers also appreciate personal advice, but banks can pay for that well. An 8000 dollar loan would not cause any problems. But experience has shown that the branch banks on site are more expensive than, for example, a direct bank from the Internet.
The loan offer on the Internet is huge, the banks are fighting relentlessly, which of course can ultimately benefit if they carefully look for a cheap USD 8000 loan. The best thing to do is to carry out a loan comparison. This can be done for free. You simply enter the loan amount, the term and the desired rate and the customer receives a list of the cheapest providers.
If a provider is found, the loan application can be made directly via the comparison. The customer should know that the interest shown is not relevant for all customers. Interest is calculated based on creditworthiness, so that only the customer who has a good credit rating receives a good interest rate. The focus should be on the APR, which includes all the costs of a loan.
But not only the interest rate is important, so the 8000 dollar loan should also be flexible. This means that free special payments should be allowed in the loan agreement. If this agreement is not noted, the bank can calculate a prepayment penalty for early loan repayment. This is important for the customer, who receives bonuses or special payments from his employer every year, which could then flow into the loan.
Rate breaks should also be considered. The 8000 dollar loan has a certain duration in which there can always be a financial bottleneck. Under certain circumstances, this could compensate for one or two rate breaks.
It is also important to draw up a small budget before applying for a loan. In it, the income is offset against the expenditure and there should be a remaining amount that could be used for the installments. However, according to financial experts, only 1/3 of the total should be counted as a rate. The rest should get on the high edge, so an urgent purchase or the like should not result in a new credit requirement.
Bad Credit Bureau and now?
In order to receive an 8000 dollar loan, the customer must of course have a perfect credit rating. The income must go into an account regularly and should be above the garnishment exemption limit. The Credit Bureau must be without negative entries and there should be a permanent job without a fixed-term contract. In addition, the credit obligations should be kept within limits, which means that they must be positive about the income. If the customer can meet these conditions, the 8000 dollar loan will also be approved.
But there are also customers who have a burdened Credit Bureau. Once an invoice was not paid and maybe a legal reminder was given, the cell phone bill was simply forgotten. But this messiness has serious consequences. There is a negative entry that can make normal borrowing impossible. German banks are at least very cautious.
That’s how many loan offers you get
If the entry is classified as easy, a German bank could also grant a loan. For this rather tense situation, there are credit intermediaries whose specialty is that. You know banks that still grant a loan, most of the time the customer cannot find them himself because there is no obvious advertisement.
But a loan from a foreign bank could also be the solution. Since 2010 all of the funds have come from a bank in Liechtenstein, which is managed by Best bank. The bank is reputable and works transparently. However, only three loan amounts are provided. 3500 USD, 5000 USD and 7500 USD, whereby the latter loan comes closest to the loan request of 8000 USD.
To get this loan, the customer must have an exceptionally high income and hardly any other liabilities. In addition, there must be a job that is subject to social insurance for at least four years and does not include a fixed-term contract. The Credit Bureau does not matter, the credit does not appear in the same.
The possibility to still get an 8000 dollar loan would be that the Credit Bureau-free loan should be regarded as additional financing. Then, however, the customer would have to pay two loan installments, and the bank would then decide whether this is possible. In order to increase the credit rating, a second borrower could also join the loan agreement.