Vacation loan, is it worth it?

Is it a good idea to ask for a vacation loan? With summer already begun, this is the doubt that surrounds many heads who still do not know what to do on their summer break. And, according to the forecasts of the barometer of Ipsos-Europ Assistance 2017, the Spanish will spend on them this year an average of 1,651 dollars per household, an amount that not everyone has saved, despite being 12% less than the last year. In fact, more than 40% of Spaniards admit they have no money to go on vacation, according to the National Statistics Institute (INE).

But the credit card is not a solution for everyone. It can be of great help for purchases at the destination, and even to pay for dinner on a terrace facing the sea, but it is inadvisable to take a plane ticket or stay in a tourist accommodation. The high commissions that carry most of them would end up making the higher expenses even more noticeable.

Vacation loan Is it the solution?

Beyond the credit card, an alternative for those who need quick money for their vacations are personal loans, one of the star products of traditional banks. Virtually everyone offers credits for summer trips, but subject to certain conditions, which usually involves having an account with the entity and a payroll domiciled there, among others, or having a clean credit history.

In addition, requesting a personal vacation loan from a bank means having to give explanations of what the money is wanted for, in addition to the various visits to the branch to arrange papers and solve bureaucratic issues. And of course, commissions and interests.

Traditional personal loan

personal loan

today there is a more comfortable alternative: fast online loans. They are personal loans that can be requested at any time, from any device with Internet access and without leaving home. In addition, in an online loan you are allowed to choose the amount you need and how it is best for you to return it, something that in a traditional bank usually comes tax.

In RightMoney Finance, for example, you can request up to 5,000 dollars, to be returned as you want within a maximum period of 36 months. Without giving explanations, without paperwork and without waiting, since, depending on the receiving bank, you can have them in your account in a matter of minutes. This is possible because the online credit institution works with an algorithm capable of valuing thousands of points in seconds, so that you know as soon as possible if your credit has been granted and you do not have to endure distressing delays.

In addition, being in ASNEF or some other delinquent file does not close your doors to request a personal loan for holidays in RightMoney Finance, since it will not be the only thing that is taken into account when assessing your borrowing capacity. What you have to always keep in mind is not to ask for more money than you really need for ‘just in case’, since the more you ask, the more expensive your personal loan will be. Similarly, how much The longer the term of the loan to be repaid (more installments of less amount each), the more you will pay in interest.

A personal loan can be the solution to our vacation

If you ask for it with head: never requesting more money than we need. So returning to the question with which this text started, is it a good idea to ask for a personal loan to pay for the holidays? The answer is yes, as long as it is done with a head. That is, if the money we borrow is adjusted to our needs and we are able to pay it back. In RightMoney Finance, specifically, you will never be approved for a personal loan that you cannot assume. Otherwise, we will offer you a smaller amount, according to your possibilities, that you can pay in comfortable installments.

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