If you are reading this, it is because you need financing, either to pledge a car on finance (รับจำนำรถยนต์ติดไฟแนนซ์, which is the term in Thai), to make reforms, to get married, or to be able to pay for the studies. The fact is that whatever the reason for a personal loan is needed, you should keep in mind the following recommendations.
It is crucial to keep these recommendations in mind, because a wrong choice when applying for a loan can lead to financial problems and be much more expensive than expected.
1 – Analyze Your Financial Situation
First of all, check if you really need to process the operation. If you do not need the money urgently, it is possible that by saving you can get the capital you need.
For cases, it is important that you know your financial situation. Calculate how much money you spend each month and the income you have. Analyze how much you pay each in mandatory expenses such as a mortgage, food, schools, etc. Also, analyze how much you spend on leisure.
2 – Analyze The Amount You Need And When You Can Return It
Before asking for a loan, analyze the amount you need and when you can pay it back. Do not choose a repayment period for a longer period of time than necessary; the later you return it, the more interest you will pay. It is also not good to establish a very tight repayment period as unforeseen events may arise.
Establish the repayment of the loan according to your income, if you have problems with this decision, contact a financial advisor or the financial institution itself to guide you. If it is a temporary bump and you do not need much money, you have the option of requesting microcredits whose return can be between 7 and 60 days.
3 – Make A Comparison
Make a comparison to find the entity that offers the best interest. Research all possible options, from loans offered by your traditional bank to online loans. The market is full of financial institutions, and each one offers different offers to attract the customer. Take advantage of these offers. Many entities promote the first free loan, that is, without interest, so why pay too much.