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Apart from the purchase of a fitted kitchen, which can be as expensive as a mid-range car, a loan for furniture is usually more of a small loan. Consumers like to take advantage of the opportunity to finance new furniture with the help of loans, and usually take out a cheap loan. The only question is, where can you get the cheap loan? Which bank has the best loan offer and what should you watch out for? The best way to do this is to compare the loans.
Finance new furniture in the furniture store
Today it is no longer a problem if you go to the furniture store without having money in your pocket. If a purchase decision is made based on tempting offers, which was not planned in the form, this does not constitute an obstacle, even if the costs for the new furniture exceed the existing budget.
In almost every large furniture store, customers today also have financing options because the cheap loan for furniture is offered directly on site.
The conditions are often impressive because it is not uncommon that we even offer zero-percent financing, in which a loan does not cost any interest or fees. The furniture stores advertise with slogans such as “We’ll give you the interest” so that customers who are looking for bargains react immediately because they get something for free.
Zero percent financing as a marketing strategy
The strategy of the furniture stores works because many customers use a loan that does not cost any interest without considering that no interest is not synonymous with no installments. Of course, the goods have to be paid in installments. In the hectic pace and joy of the cheap financing option, many consumers forget that one should perhaps compare the prices in advance.
A far for which you pay 1,200 USD and no interest is still more expensive in the end than a sofa that only costs 900 USD. Many consumers do not pay attention to the fact that it is not only important to make a loan comparison in order to take out the cheapest possible loan, but that it is at least as important to compare the prices if you do not want to pay in the end.
With zero-percent financing, you should always be careful, because nobody actually has anything to give away. Anyone who gives away the interest gets the money back elsewhere. This can even affect customers who do not take out a loan at all because they buy goods that are too expensive.
Credit for furniture in the mail order
Mail-order companies such as Heine, Otto, and Bader also offer furniture for sale and give customers the opportunity to take out a loan for furniture. Anyone who buys on credit in the mail order business has the advantage that the credit check does not take it so strictly, but has to pay relatively high-interest rates and often has a short term.
Take out a cheap loan for furniture from the direct bank
Many banks today offer their loans for free use, which means that the borrower can do what he wants with the money. If you have the opportunity to take out such an online loan cheaply, you should do it, because in this way you can possibly kill two birds with one stone.
First, you get a relatively cheap loan and secondly you can act like a cash payer in the furniture store and try to get a good discount on the furniture. The bottom line is that if you do this and prove some negotiating skills, you can often drive cheaper than taking out a loan without interest directly in the furniture store.