The results of the current survey of Czechs’ access to loans show that when deciding on a loan, they mainly look at the speed of its settlement and the amount of repayments. However, they are not very interested in the interest rate or annual percentage rate of charge. They often take the first offer. “This is an overwhelming finding and I am glad that most of our clients are not affected by this,” says Anthony Twise, manager of the company.
The survey also shows that most people do not compare the offered offer with others before negotiating loans. They are not looking for the cheapest offer, but often they just need one that is within the expected limits.
How much they will overpay.
“Of course, it depends on how much you are willing to overpay. But I guarantee to anyone who compares the loans at Amzingloan that simply by comparing them will save more than he would have expected. It is definitely worthwhile to focus on the market before arranging any loan, ”says Twise. As an example, he gives frequent cases of clients looking for a cheaper loan at Amzingloan.com after they have arranged another loan directly at the point of purchase, such as a new or used car.
“For cars, this is absolutely true. In a car shop, people often succumb to the feeling that they have to have a car, no matter what it costs. And only after some time does he realize that the loan will overpay 60 percent with all bonuses and services. Only then will they begin to count and look for a cheaper solution. Of course we will help them, but the termination of an unfavorable loan or its early termination is always worth something, ”explains Anthony Twise.
The survey also shows that the most important factor in selecting a lender is the speed of the loan.
According to her, half the Czechs decides. “In this case, Amzingloan offers a comprehensive service when negotiating loans, including contract handling and crediting,” Twise says. According to him, it is not a mistake when two fifths of people go to the bank, which are clients, but in the vast majority of cases they would save money if they looked elsewhere.
The results of the research say that half of the respondents opt for the first bid they receive and the others no longer consider it
“It is alarming that almost half of the respondents in the current survey were unable to say with certainty what the current interest rate of their current loan was. The fact that the price of credit is important for three fifths of respondents, and one in six respondents will identify it as the least important factor for credit selection, also tells a lot, ”he pauses at the results of the Twise survey.
Among the most important loan parameters surveyed included the possibility of early repayment reported by half of the people. The amount of repayments is also important. The magic limit is said to be USD 7,500. Here the Czechs are able and willing to repay monthly. According to the survey, three out of ten indebted Czechs pay 2,500 to 5,000 dollars a month, and a quarter of people who have a consumer loan pay off between 1,000 and 2,500 dollars.