1. How can you afford to pay per month?
Do not ask for a loan before you have a clear idea of what amount of your income you can afford to use the monthly installments. Calculate it easily. Since its monthly net income less any monthly expenses (rent, food, electricity, gas, water, school, etc.). What remains after deducting you can use as a monthly installment loans. We recommend, however still leave something in reserve - for unforeseen events. Once you know how much you can afford to repay, choose the height of loans.
2. What you need to borrow?
Do not borrow more than you really need. For each loan, you can choose several different repayment periods. The longer the maturity of the loan you choose, you will lower your monthly payment. For example, if you can pay back monthly 1,800 CZK and need to borrow CZK 40 000, choose a better loan with a maturity of 36 months and repayment in the amount of CZK 1,460, before a loan with a maturity of 24 months with a higher installment of 1,980 CZK. If you need to borrow CZK 20 000, borrow CZK 20 000 and no more. Installment in the amount of CZK 1,800 can pay a higher loan, but you will pay much more.
3. It is better secured or unsecured loan?
Secured loans are provided at higher sums than unsecured loans and usually have somewhat better conditions (interest rates). If you plan to take a loan to 60 000 to 90 000 CZK, ensuring you do not need. At higher loan if you are not asking for a loan as spouses, ensuring condition. It requires either collateral or a guarantor of real estate collateral. Whether the loan is secured or not, you must always be able to repay. Whether or not you get a loan, it decides on the basis of documents submitted by the creditor (the person who lends you money).
4th Insure your monthly payments or not?
Insurance monthly installments is certainly advantageous when taking out a loan for a longer period of time. If you are sure that during the loan repayment will not lose your job, you need a basic insurance or do not have insurance at all. If you take out a loan for more than a year or two and you're not sure whether your employer does not pass, we recommend insurance.
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