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Matrose
Joined: 18 April 2019
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| Posted: 11 July 2019 at 00:54 | IP Logged
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The market for credit decisions is always a service area,
and it is also subject to seasonality. On the question of
when it is more profitable to take a loan, there is no
definite answer. It all depends on the purpose of the
loan. This article will consider four main seasons that
coincide with the seasons. Let's start with the most
difficult - winter.
Winter is the time of year when it is more profitable to
take a 1000 dollar
loan for gifts and cars.
Winter, first of all, is associated with the New Year.
Great demand for gifts gives rise to quite favorable
credit offers. On the other hand, the beginning of a new
year always brings with it the entry into force of all
sorts of amendments and new laws. In fact, in the first
month of the year, banks are adapting to new conditions.
An important role is played by the increased demand.
Many consumers are trying to quickly make expensive
purchases, such as, for example, the purchase of real
estate.
Companies selling apartments and private houses feel an
increased interest of the clientele and therefore, taking
advantage of the opportunity, they are trying to sell as
many of the less successful options as possible.
With car loans, things are different at this time of
year. Fresh cars suddenly get the status of "last year of
release" and quite significantly lose in price. In
addition, banks in every way encourage the purchase of
cars in the winter, creating lucrative offers.
Winter New Year's Eve - the time of receiving annual
bonuses in many companies, it gives rise to a surge in
sales in the real estate market and car market.
In winter, the demand for services such as mortgages and
car loans increases. On the other hand, the January
holidays interrupt the business season for almost a
month.
Spring - time to solve housing problem
Spring, especially its beginning, is the time of year
when it is most advantageous to take a loan for real
estate. And there are a number of reasons:
Mortgage interest rates become more stable
The construction of new houses begins,
New offers appear on the market,
The least attractive options, for the most part, had
already found owners by the beginning of spring,
And, of course, moving to a new home is much more
convenient to do in the spring season, when the frosts
have already declined, and the heat is not yet in sight.
It should be noted that the emergence of new options,
primarily due to the fact that in winter the real estate
market is oversaturated, and in spring it is relatively
free.
Summer is the time to take care of yourself
In summer, the holiday season begins. The offices of
companies and government agencies are being emptied. But
in banks the activity increases the opposite. Especially
popular are short-term loans for leisure and travel. You
can also get a favorable loan for car repairs or home
improvement. The summer period is a season of business
calm. In the summer, banks give less loans, because
people do not want at this time to think about serious
financial investments. Therefore, banks spend all sorts
of special programs, reduce interest rates and soften the
conditions for obtaining, which is why it is most
advantageous to take loans in the summer.
Do not forget that in the summer many people begin to
prepare for the beginning of the school year. And demand,
as we know, creates supply. That is why a loan for
education is much more profitable and easier to take in
the summer, since the popularity of this type of loans
gives rise to serious competition among banks that are
seeking to attract new customers with more and more
favorable credit terms.
Autumn is the time of long-term loans.
When August is already behind us, and after it has not
happened, there are no serious shocks that are typical
for this month, it is time to think about long-term
consumer loans. The rate on the mortgage at this time of
year is slightly higher than in the spring, but much more
profitable than in the winter.
Banks are ready to provide their customers with consumer
loans for a period of 36 months on very, very favorable
terms. You can, for example, try to open and develop your
own business or buy a tourist ticket for the New Year on
credit in advance.
It is worth noting that not all loans are subject to
seasonal changes. It is also not uncommon when it is more
profitable to take out a loan for off-season special
offers from banks. To get a loan on the most favorable
conditions, it is necessary to clearly define the
objectives and closely monitor the market for credit
decisions.
Let's sum up:
Winter: profitable time for car loans. Be careful when
buying property.
Spring: the best period for a mortgage, new interesting
offers appear on the real estate market.
Summer: an abundance of various offers for a short-term
loan for rest, renovation of an apartment or house, and
also for education.
Autumn: a good time for the mortgage, compared with the
winter period, the rates are lower.
If you want to better understand the loan offers of
different banks and find the most profitable loan option,
please contact our company for professional advice.
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Topic: More profitable to take a $1000 loan
