Ten years ago, people had no idea what lending was. But the first large banks began to actively offer commodity loans. To purchase any product you like without leaving the cash desk has become very simple. Commodity loans are now issued directly in the store.
The crisis of 2008 cooled the credit boom a little, and banks began to give loans more legibly. Despite space overpayments, the popularity of banks has not decreased. In this article, we will consider what commodity loans are.
Credits for goods
Often, many equate a loan for goods with an "express loan", which is very popular. However, the commodity form of credit is significantly different simplified system and has a number of features.
- The main feature of this type of lending is registration without a visit to the office. Goods are made out in the seller’s store. The application is accepted by filling out the questionnaire and sending data via the Internet to the loan specialist.
- A bank employee who prepares a preliminary application in the store is fully knowledgeable and will answer all your questions.
- Commodity loans are secured by the pledge of the purchased goods. Thus, as a result of non-payment of the loan, the bank has the right to pick up the goods. Of course, in practice, such cases are rare, since the product quickly loses its value, and it becomes more difficult to sell it.
- Borrower data is verified in a simplified form. The provision of a commodity loan is carried out according to two documents. Help and a work record are not required.
The main advantages of a loan
First of all, the most important plus is the fact that the design is carried out in the store. Secondly, the whole process of registration takes 15-20 minutes. It is not required to collect a full package of documents for submitting an application and drawing up a contract.
The main disadvantages of loans
The main minus is a large overpayment, which sometimes amounts to the amount of purchased goods. The second drawback is compulsory insurance, without which the lender will not approve the transaction. It is also necessary to note the difficulties of exchanging goods as a result of marriage or breakdown.
How to take a product you like on credit?
Probably, everyone faced this situation - go to the store to get acquainted with the news and see the desired product that you like by all characteristics, and before the wage a few more weeks. And here the friendly manager comes up and offers to arrange the desired product on credit. Happy customers do not delve into the terms of the contract at the time of transaction. Rainbow mood leaves when it is necessary to repay the debt with interest.
If you seriously need a certain product and decide to purchase it on credit, we will tell you about the sequence of registration.
- Shop selection. You need to find a store in which this product is presented at the lowest price or is offered for a promotion.
- Bank selection. Before applying for a loan, you must familiarize yourself with the conditions of all banks and calculate the most profitable option with a minimum overpayment. If there is no way to deal with interest yourself, you need to contact a loan specialist for help.
- Choice of loan conditions. In this case, it is necessary to clearly determine how much you can pay monthly to pay the principal. To form the optimal payment, you can choose a cheaper product or increase the loan term.
- Registration of the contract. Carefully read the loan agreement and only after reading the signature.
Currently, commodity loans are very popular, despite overpayments of 30-80 percent per year.