Borrowing money is done quite en masse in the Netherlands. This can be small amounts, such as a few US dollars that you borrow from your sister so that you can pay for the parking garage, up to amounts of two tons or more - for the purchase of a house. Even when it comes to a loan to start your own business , the amount to be borrowed can increase considerably. It is important that you take into account that borrowing money always costs money. If you want to borrow wisely , you do not borrow more money than you strictly need. It is also smart to repay as quickly as possible, so that you pay as little interest as possible. You must realize that in the case of an earlier repayment, fines can be charged. The amount of the fine serves to compensate for the lack of interest income on the part of the creditor, so that you as a debtor do not gain much from it. However, if you have taken out a personal loan for which no penalty is calculated and you can pay off earlier, it is wise to actually do this.
Anyone who has ever been on holiday to Turkey or Croatia knows that bargaining is commonplace in these countries. By not immediately taking the bait, but instead making a counter offer, you can often (many times) get hold of the desired good cheaper. In our Dutch culture, however, negotiating is not so common: who is going to haggle for their washing machine, car or loan? Still, negotiating your loan can be very rewarding, if you dare to try it. Make sure you are well prepared, for example by being able to put forward a better offer (from the competitor). However, the lender will only want to agree to this if the loan is also interesting from their point of view: this will not be the case with a small loan to replace your broken washing machine. However, if it concerns larger amounts, such as the loan for a house, a company or a boat, then you are also an interesting candidate for the lender and there may be room for maneuver.