If you have several loans, it may be advisable to merge all loans, this could just save tens of euros every month. Another big advantage of merging loans is that you only have to deal with one financing company and therefore only one point of contact.
In addition, it is also much clearer and you do not have multiple payment moments per month. If you now have one loan but also an outstanding balance on your credit card, there is also the option to merge these loans, especially in this case you could save a lot of money. The interest rates with a credit card are sky-high and in almost all cases you will save money if you combine the outstanding balance with the loan you already have.
However, it may also be advisable to consider the option of merging if you have several loans or credits in progress. Just look at the interest rates and you will see that you will be much more profitable with one loan, in addition, you have the option to request an extra amount when merging a loan. The latter of course depends on your financial situation.
Payday champion suggests to always request a quote before merging
We would like to advise you to request a quote for merging the loans. On a quotation you can see clearly what the term is and the monthly amount to be repaid, in addition you also see the additional costs.
There are financing companies that make it mandatory to take out insurance when you borrow money. Of course you do not want to be faced with unexpected costs and with a quote you are informed of all costs in advance. In addition, requesting a quote is completely without obligation and also free of charge. If you are satisfied with what you see on the quotation, all you have to do is sign it and return it, after which the application process will be initiated. Merging all loans can therefore provide a monthly saving, if you have several loans, it is advisable to regularly check whether you can spend a lot cheaper every month.