Cash advance loan online -With which providers can I borrow a cash advance loan?

Do you need extra money quickly and do you want to quickly borrow an advance? You can now arrange this right away!

Borrowing short-term loans with streamlined approval processes is easier than you think. Where you get to deal with all sorts of complicated credit checks and paperwork at the bank, you can often borrow directly from online lenders without any problems. In this way, you arrange an advance on your salary, so that you can pay the bills quickly or you can immediately make an installment purchase. Borrowing extra money is, therefore, easier than ever! Also view online directly what the possibilities are for you.

With which providers can I borrow a cash advance loan?

The providers on the internet, also known as mini loan providers or flash loan providers, are providers that want to keep borrowing money as accessible as possible. That is why they do not use complex credit checks and paperwork, but ensure that you can often apply for a loan online. In this, they differ from regular lenders, but you have to take into account that it is only possible for these providers to borrow small amounts.

What you should pay attention to when borrowing

An important point when borrowing an advance via the internet independently is that you keep a close eye on the security of the loan. Because strict checks are not forthcoming, you have to keep a close eye on the safety of these loans. You do this with the following checklist: 
– Always check whether you are dealing with an officially registered lender 
– Never borrow more than necessary (and keep in mind that it is only small amounts 
– Calculate in advance whether you can have the borrowed money available again on time 
– View experiences of others with a specific loan or loan provider 
– Compare various providers online

All in all, it is therefore wise to read in advance about the conditions, to avoid misunderstandings and unnecessary costs.

For how much money can I immediately borrow an advance?

Would you like to borrow money directly? This is often possible with an online loan! However, you have to take into account that the security measures are only small amounts. Exactly how much you can borrow differs per lender, but usually, amounts are between 50 and 1000 euro, where you can determine the exact height yourself. That can be 250 euros for a new bike, 500 euros to make a purchase on payment or 900 euros for a trip. In most cases, you do not have to justify the reason for borrowing so that you have a lot of freedom with these loans.

In short, do you need extra money immediately? Borrowing via the internet is immediately arranged and in addition, you often receive money today! In addition, you do not suffer from complicated application procedures and strict conditions, so that you can borrow without hindrance when necessary and can arrange your affairs immediately!

Worldwide study: Consumer loans grow double-digit in emerging markets – Developed countries fall behind

Global per capita debt increased by 4.7% in 2012 compared to the previous year and stood at 910 euros at the end of the year. Here, however, there are strong regional differences, which result in particular from the population density and the economic power: While the average consumer credit burden in Africa is 96 euros, a North American pays back on average more than 5,600 euros. For comparison: The Germans occupy the midfield with receivables amounting to 2,741 euros per capita. The highest is the personal accounts receivable with 11.677 euro loan amount per capita in Canada.

The global consumer credit market continues to be dominated by North America: with a grand total of 2.162 billion euros, the US leads by far the highest credit outstandings ranking, followed by Japan (714 billion), China (433 billion) and Canada (401 billion). Germany ranks sixth with 225 billion euros between Great Britain and Brazil. “The German consumer credit market has been developing at a stable level for several years. The installment loan contained therein is by far the dominant product. As of the end of June 2013, installment loan portfolios grew by 1 percent to 147.8 billion euros, “says John K. Ortiz, CEO of our bank.

Demand is rising, especially in emerging markets

Despite generally weaker economic growth in 2012, emerging markets are showing remarkable developments: In Russia, consumer credit grew by 43 percent over the previous year, in Argentina by 35 percent and in Thailand and Azerbaijan by 32 percent each. However, the increase in Argentina is at least partly a consequence of continued inflation. In China, there was at least a growth of 18 percent in 2012. In South America’s largest market, Brazil, growth slowed slightly in 2012, as did Latin America (21.6 percent to 13.5 percent).

However, growth in Latin America is still high compared to developed countries. By contrast, North America and Europe only grew by 5.5 and 2.6 percent, respectively. If the emerging markets of Russia and Turkey did not influence the European value, there would be no growth at -1.7 percent, but a decline. The EU alone comes to a value of -1,9.

Magic limit: From 2,500 euros gross domestic product per capita, the consumer credit market is growing disproportionately

“Economic growth contributes significantly to the strengthening of the consumer credit market,” says CEO John K. Ortiz. “For emerging markets, it is clear that as soon as gross domestic product per capita reaches the” magic limit “of 2,500 euros, the consumption finance market will develop disproportionately – and the country will be heading for economic stability.”

Installment loans are interesting for high earners

Married couple show something on a tablet by a consultant - CreditPlus Credit Magazine

Not only low-income consumers use installment loans when planning a larger purchase. 

As a recent study by the Duresearch Institute (DI) on behalf of the Paleoband Show shows, this form of financing is also used by high earners with a monthly net income of more than 2,500 euros.

One in three households uses loans – including good earners

More than 1,800 Germans were interviewed for the representative survey, of which one third stated that their household had one or more installment loans. Of the borrowers, 31 percent are singles, 41 percent are families without children, and 28 percent are families with children. The credit users come from very different income classes: 22 percent have a net household income of less than 1,500 euros a month, with 34 percent of the income between 1,500 and 2,500 euros. But even well-earners have current loans: 29 percent earn between 2,500 and 3,500 euros and at 15 percent, the monthly net income of the household over 3,500 euros. It turns out that even high-income people often choose installment loans to finance their purchases. As explained by the banking association, it is interesting for high earners that they maintain their liquidity through a loan and are only burdened by the installment payments to a minimum. The average monthly rate that credit users pay is 250 euros.

Installment loans usually finance the purchase of a car

Most borrowers use the finance to buy a car. 33 percent of installment loans are used to finance a used car and 26 percent are for a new car. 17 percent of those surveyed purchased furniture or consumer electronics with the loan. Even large household appliances are still popular with 14 percent. In each case, 13 percent have not taken their credit for an acquisition, but to recapitalize older loans or to offset their bad debts.

Borrowing on the internet is becoming more popular

The survey also shows that 25 percent of installment loans are now being completed online, compared to 21 percent in 2015. Consumers are particularly likely to choose to borrow on the Internet if they want to finance consumer electronics or large household appliances. Forty-seven percent of the loans went to a bank, and 25 percent to a car dealer. Even with purchases in the retail or mail order, many customers opted for the possibility of a loan: 23 percent of financing run at such companies.

Is a car loan with final rate makes sense?

Man sits with a clipboard and pen in a car and signs a contract

Balloon financing or final installment financing is common practice, especially when buying a car. It impresses with small monthly installments – thanks to a large final installment. 

Small monthly installments and a large final rate sound very tempting at first, but this can certainly have its pitfalls.

Three way financing: car loan with final installment

A final installment financing, as the balloon financing for car purchases is also called, works as follows: You buy a car on loan with a maximum maturity of 48 months and pay monthly installments. At the end of the repayment term, you have three options:

  • You pay the big final installment from your reserves.
  • They are raising new funding to settle the final installment.
  • You return the car to the dealer for resale.

Therefore, a balloon financing is basically only for cars, because the final installment is based on the predicted residual value of the car. The turn is made dependent mainly on the mileage. Other goods, such as furniture or real estate, have only a small value or no well-organized market for secondary utilization at the end of the financing and therefore are not suitable for balloon financing.

Balloon financing usually more expensive than installment credit

Balloon financing usually more expensive than installment credit

When you complete a car loan, you always get monthly loan installments. For a car loan with a final installment, monthly payments are up to 50 percent lower than a classic installment loan. Overall, you pay for the car with a final installment but usually more. The reason: The high closing rate will earn interest over the entire term. So quickly come together several hundred euros in interest costs.

Even more expensive can be the balloon financing of the car when one of the following occurs:

  • You can not pay the final installment and have to take out a new loan. In the meantime, interest rates may have risen.
  • You have exceeded the agreed mileage and must compensate the dealer accordingly, because the residual value is lower than originally planned.
  • You have to sell the car to pay the final installment. The current market value is lower than the closing rate.

For whom is balloon financing worthwhile?

For whom is balloon financing worthwhile?

Balloon financing is useful only in a few cases, namely if you …

  • … can certainly expect a larger sum at the end of the repayment term, for example the payment of a life insurance, but want to preserve as much financial flexibility as possible during the financing period.
  • … anyway intend to repel the car after a few years. But even this can – depending on the market situation – turn out to be a loss.

Since you have to meet the same credit requirements for balloon financing as you would for a installment loan, in most cases you can do much better with a standard car loan at constant installments over the entire term.

Four out of ten Germans take out loans

Woman hides her face behind a moneybox

In the period from June 2015 to July 2016, four out of ten Germans took out a loan. Borrowing is particularly common for financing cars or motorcycles. 

Differences in the subject of installment credit are also evident between women and men. Overall, borrowers were satisfied and considered taking out further loans in the following months.

Advance credit by far the most common type of loan

This is the result of a survey conducted by opinion research institute execuresearch on behalf of the online credit comparison portal creditend. In total, around 40 percent of the survey among more than 1,000 German citizens stated that they had borrowed between June 2015 and July 2016. Of these, 23 per cent were in installment loans, followed by a credit line (12 per cent), a real estate loan (6 per cent) or mortgage lending (also 6 per cent). Of the almost a quarter of respondents who had taken out installment loans, 20 percent took advantage of the favorable hour, or the historically low interest rates, particularly intensively. In the period from June 2015 to July 2016, they even took out several loans.

Borrowing is mainly for vehicles

At 41 percent, most consumers used the installment loan to finance a new or used car or a motorcycle. In second place came home with 36 percent durable goods such as computers, TVs, washing machines or refrigerators. 16 percent used the taken installment loan for the area of ‚Äč‚Äčliving, thus for a renovation, a move or for the furniture purchase. Ten percent took advantage of the currently very low interest rates and owed with a new loan one or even several loans in progress, so as to lower their interest costs. A lower interest burden also benefited the nine percent, who borrowed an installment loan to make up for their bad debts. At four percent, borrowing was used to finance training or further education. However, the Germans are not tempted to unrestrained spending by the low interest rates, as the study also shows. To finance celebrations, such as a wedding, a borrowing in this country is not common. For this purpose, just as for a vacation trip, only one percent of the respondents used their credit. According to their own statements, only one percent of the respondents also used a installment loan for their trade, ie for the purchase of operating resources or for business expansion.

Men take more credit than women

Men take more credit than women

From the respondents’ answers, the study authors identified the typical installment borrower in Germany: on average, he is 48 years old, married and has an average net household income of 2,950 euros per month. Respondents who had paid installment credit between June 2015 and July 2016 were 53 percent male and 47 percent female. Not only do men borrow more frequently than women, they also opt for higher amounts: the average loan amount was 10,567 euros for male borrowers and 7,964 euros for female borrowers. Overall, the average loan amount was 9,330 euros, with an average maturity of 35 months.

Borrowers are satisfied

The study also shows that 80 percent of surveyed borrowers can imagine borrowing between August 2016 and August 2017. So you were apparently satisfied with the settlement of the loan and the terms. This is especially true of respondents who have taken out their loans on the Internet: Robert K. Hayes, CEO and co-founder of creditend, explains: “Among online borrowers, this share is even higher. The advantages, which from their point of view an on-line graduation, are above all transparent conditions and a fast, uncomplicated handling. “

 

Survey: Little interest in peer-to-peer loans

Nine out of ten Germans can not imagine using online portals to borrow from private individuals or even to lend a loan. Only two percent use such a platform at present, another four percent have tried it, but were not satisfied. Seven percent can at least imagine the use. Even with mobile payments, the Germans are currently still cautious. Only one in ten citizens currently uses such solutions. These are the results of the representative survey “Digital Financial Trends 2015” by us.

So-called peer-to-peer loans, in which private individuals grant each other loans, will not be that easy for the time being: 88 percent reject the use of online portals for credit transfer from private to private. Half of the Germans, on principle, do not lend money online or offline and do not accept personal loans themselves. Another 25 percent do not trust the intermediary portal operators. Eleven percent see the granting of loans as the sole task of a bank. “Peer-to-peer loans are still a niche business. The majority of Germans rely on the issue of installment loans to banks, “says our CEO John K. Ortiz.

Especially women refuse private money lending

Women are particularly skeptical about “private-to-private credit”: 53 percent would not borrow money, compared to 45 percent of men. The latter have borrowed more money from private individuals (7% compared to 5%) compared to women, and are more likely to imagine this for the future (8% compared to 4%).

Even mobile payment is still not widespread

Even mobile payment is still not widespread

– but is about to break through

Mobile payment is also not yet widespread: Only one in ten makes use of mobile payment solutions. With 35 percent, most security concerns cite their reluctance. 27 percent generally do not use their smartphone or mobile phone for money transactions, not even for online banking. Here, too, it is mainly women who are skeptical. A further 14 percent of Germans are afraid of spending too much money over fast and easy mobile payment options. When asked about the obstacles, multiple answers were possible.

But unlike private-to-home credit, mobile payments are in the midst of a turnaround, as 23 percent can imagine paying with their smartphones in the future. “Mobile payments will become established as consumers lose the fear of security breaches and learn how to handle them consciously. The providers could support this by investing in security and providing more information, “says our CEO Ortiz.

Germans are reluctant to talk about loans

Young woman holds her mouth shut, taboo topic

You do not talk about money – certainly not about what you borrowed. The Germans have always been seen as cramped when it comes to talking about money.

Lending is obviously a particularly big taboo subject. Not even one in two Germans openly talks about their debts at 45 percent. This is confirmed by a survey commissioned by the bank on the debt of the opinion and market research institute aliresearch .

Everyone does it, but nobody talks about it

The taking up of loans has long been normal in Germany as well: More than two-thirds of all Germans have already taken out a loan at least once in their lifetime. Above all, real estate and mortgage lending are widespread – 35 percent of Germans have already used this type of loan. This is hardly surprising – after all, most of them should not be able to afford the considerable costs of their own four walls completely. But the use of installment loans (30 percent) or the credit line (28 percent) is similarly widespread.

Especially in the minds of older Germans money and especially debts seem to be firmly anchored as a taboo topic. Not even 35 percent of respondents over 60 years talked about their debts – for almost two thirds in this age group, the topic is still an absolute no-go. The younger Germans are already taking a more relaxed approach to the subject of money: among the 30- to 39-year-olds, at least 61 percent do not mince words when it comes to debt. There is also a difference between the sexes. Men are more offensive with their liabilities than women, of whom only about 40 percent talk about their debts. For male debtors, it is almost 49 percent.

Shame as a reason for concealing debts

According to business psychologist Erich Kaiser, people are defined to a not inconsiderable degree by their wealth in our society. If you have money, you are considered capable of action. Therefore, it is not surprising that so many Germans prefer to keep quiet about their debts. The importance of money for social status can also be seen from the fact that people on low incomes are ashamed of their obligations. Every third person with a monthly household income of less than 1,000 euros expressed this. On the other hand, people who are financially sound are much less uncomfortable when they need credit for larger expenses. Obviously, their social status is so secure that only four percent of respondents with a net household income of more than $ 4,000 claim to be ashamed of their debts. Overall, 14 percent of Germans are uncomfortable with their debts.

Despite favorable loans Fear of a debt spiral

Despite favorable loans Fear of a debt spiral

Apart from shame, the fear of falling into an insurmountable debt trap is also deeply rooted in the German soul. Overall, 42 percent of Germans fear that they will not be able to get rid of their debts. This fear is especially pronounced at around 57 percent for households with a monthly income of less than € 1,000 and in the age group of 30- to 39-year-olds with 55 percent. Respondents between the ages of 50 and 59 were least likely to get into a debt spiral through loans. But even here it was still just under a third that expressed this fear.

Consumers are well aware that, given the continuing low interest rates, loans are currently available at historically favorable terms. A quarter of respondents said they borrowed because of low interest rates. Another 37 percent could envisage borrowing for this reason, and 16 percent would increase their credit due to low interest rates. The fear of the debt trap seems to be in many cases only a theoretical one. Because only a good quarter of the respondents stated that they did not want to borrow in principle.

Smart home with a loan finance

Woman holding a smartphone with a smart home application in her hand - CreditPlus Credit Magazine

Control the light via smartphone and be reminded by the fridge to the purchase – the topic of smart home is becoming increasingly interesting for the German citizens. 

As a representative survey commissioned by our shows, for many, a loan is also conceivable to finance the smart facility. Smart Home devices are increasingly finding their way onto the mass market.

Credit for the Smart Home: Wi-Fi doorbell is particularly popular

Credit for the Smart Home: Wi-Fi doorbell is particularly popular

39 percent of respondents would borrow for smart home devices. At 15 percent, the largest share is interested in a Wi-Fi doorbell, which shows who is at the door by video transmission directly on the smartphone. But even an intelligent refrigerator, which checks the shelf life of food and possibly reordered, is on the wish list for 13 percent of respondents. Just as many Germans would take out a loan to afford a sound system integrated into the living room wall. An interactive cooktop with integrated recipe database, which is networked with the refrigerator and thus checks the availability of the ingredients – that’s what ten percent of Germans would like. Also popular is an alarm clock that simulates the sunrise, bed pads that analyze sleep, and a sofa with touch sensor that adjusts the seat as needed. Even for a connected with the fitness bracelet Bluetooth balance, an on-the-go oven or a sofa that turns on indirect motion by motion sensor, still seven percent would take a loan.

Smartphones as a pioneer for smart home devices

Smartphones as a pioneer for smart home devices

Overall, the buying mood of the Germans is good when it comes to furniture: 95 percent of respondents plan within the next year, money for new purchases in this area – 31 percent even want to spend 1,000 euros or more. Here, purchases in the smart home sector seem to be gaining in importance. John K. Ortiz, Chief Executive Officer of our bank, sees smart home devices on the threshold of the mass market. In his view, the widespread use of smartphones is an important prerequisite. “On the one hand, they serve as a mobile and familiar control device in which all functions converge centrally,” comments Ortiz. “And they’ve made consumers accustomed to networked, versatile digital solutions in their everyday lives and appreciate the benefits.”

Student loan less popular with students

The students in Germany are considering whether to take out a student loan and how high it should be. 

This is the finding of a recent survey by the Center for Higher Education Development.

Significantly fewer student loans than three years ago

For its Student Loan Test 2017, the CHE carried out a survey and determined that in 2016 around 44,000 student loans were taken. In 2014, there were still 60,000 – a decrease of one quarter. Robert E. Vasquez, Head of Policy Analysis at CHE, has a guess as to why this could be: “Greater time to finance the study again by a side job, could be reasons for the decline in student loans – in the sense of ‘waiters instead of credit’. According to Vasquez, the average volume of borrowed funds shows that students make judicious calculations when deciding on a loan.

Credit for students: Beware of dubious offers

Credit for students: Beware of dubious offers

In addition to classic student loans, other offers such as crowdfunding or peer-to-peer loans are explicitly aimed at students. The lending is not done through a bank, but through an online portal that conveys loans from private individuals. Such offers were not taken into account in the CHE test and Vasquez also warns against them: “Under the label ‘Student Loan’ loans are granted here at sometimes horrendous interest rates of more than ten percent, which has nothing to do with the needs of a student,” explains he. Vasquez also gives tips on what students should look for in a loan: The low-interest phase provides favorable conditions for loans. This also applies to the offers of regular credit institutions, not just special development banks. At the conclusion of the contract, students should ensure that interest rates remain stable throughout the life of the loan. For a reputable provider, the repayment modalities are clear from the beginning, according to Vasquez.

 

More car financing via loans

More and more consumers are opting for car finance through loans. In the first half of 2016 was a rise in car loans recorded, as the Banking Association announced. 

The fact that buying a car is currently financed by a loan is also due to the particularly low interest rates.

Number of car financing increased

In the first half of 2016, the commercial banks granted vehicle financing for 894,000 vehicles. This represents an increase of 4.6 percent compared to the first half of 2015. The increased interest in loans for car purchases is also contributing to an increase in new lending business in general: the total volume of new lending to businesses and consumers in the first half of 2016 was one Value of 73.9 billion euros, 12.6 percent higher than in the same period last year.

Even used cars are financed through loans

Even used cars are financed through loans

It is noticeable that many used vehicle purchases are also financed by credit: The vehicle financing of new cars rose by 4.1 percent in the first half of 2016, and of used cars by as much as 5 percent. Nationwide, the registered ownership of used cars in the first six months of the year with 3.7 million more than twice as high as the registrations of new cars: Here, the number in the first half of the year to 1.7 million.

Low interest rates create good conditions for buying a car

Currently, consumers can look forward to the low interest rates on favorable lending rates. Steven J. Barnes, Managing Director of the Banking Federation, also said: “Consumers’ employment prospects continue to be good and payment practices remain high.” According to the association, around 98 percent of all consumer credit is properly repaid. The Consumer Credit Index, which the Duresearch Institute (DI) calculates twice a year, suggests that the use of personal loans – such as vehicle finance – will remain at a high level in the coming twelve months.