The days when the federal citizens took out a loan only for their own four walls are long gone. Today, vehicles, fitted kitchens or holiday trips are simply financed with installment loans, if the credit balance on the account is insufficient. Against the “Consumption on Pump” is on and for nothing to object, it allows you to make important purchases or long-awaited wishes regardless of the account balance.
Buy everything on the pump
Those who overbid it with loans, however, quickly get into the debt trap. Because it is by no means recommended to buy everything on the pump, which can be bought on a pump. Consumers who finance everyday items of maximum mediocre value are quick to take over.
Mobile phones are a good example of the increasing carelessness of many consumers. It is now possible to install a new device worth 500 euros without a deposit over a period of two years in installments. The situation is similar with notebooks, washing machines or refrigerators. In addition to installment buying, consumers now also have access to a leasing market for basic consumer goods. Although the conditions of these financing models are by no means favorable the annual percentage rate of interest exceeds the mark of 20 percent with good regularity – but they are nevertheless being used extensively.
One of the reasons for the development is certainly that a growing number of German households have neither reserves to pay for purchases between 500 and 1000 euros, nor is it prepared to save this amount, At a Astro finance mail-order company, which was frequently seen in the media recently, towels, plastic cutlery or light bulbs can be paid in installments, if so desired.
A mobile phone financing to 20 euro monthly installment here, a installment payment at the mail-order company to 30 euros there and in addition a Astro leasing contract to 25 euro – households on a tight budget, to which such financings are addressed, quickly come in need, So convenient and beneficial loans are also not all that is affordable with them, is also funded with them.