Summer is finally here! Holiday time, going to the beach to sunbathe, travel time and extra expenses. At the moment there are many who resort to travel loans in order to afford a few days on a paradisiacal beach or a moment of relaxation and privacy to disconnect from the hustle and bustle of the office.
Well, if you are thinking of applying for a vacation loan here we tell you how and what options you have. The truth is that many private financial institutions offer these types of credits; This is the case of Good Credit and E-Money.
Finance your vacation
Everything will depend on the amount of money you need. For amounts below $ 600 it is advisable to request a microcredit. Normally, the management is done 100% online and in a few days you receive the money in your checking account.
It is a very simple way to apply for a loan for the holidays, since, without leaving home you can perform all the management in one day. The drawback is that the repayment terms are short, usually you have a month to return the microcredit.
On the other hand, if you need more money and a longer term , we recommend applying for a personal loan online.
Recommendations
In our country it is not so far-fetched to resort to this type of vacation loan since up to 45.7% of travelers choose to finance their summer vacations. We from Good Finance want to give you some tips to prevent your vacation from becoming a real economic ordeal:
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Look at the price. It is important to consider how much we will have to return and if we are able to return it. The APR will indicate the interest we will pay to receive financing.
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Compare among several lenders to find the best option.
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Reduce the repayment term to the maximum. Interest will be higher the longer the repayment term.
Financial products
As we mentioned earlier, there are several financial institutions that offer this type of vacation loan such as Good Credit and E-Money .
Good Credit gives you the opportunity to have a quick loan in order to solve that economic solvency and to organize a desired vacation this summer. You can request an amount ranging from a minimum of $ 1,000 to a maximum of $ 40,000.