Apprentices also need money. With the first apprentice salary, they first go on a shopping tour. But it quickly becomes clear that, of course, not all wishes can be fulfilled. If you then have your own car or your first apartment, even if it’s only in a shared apartment, the budget is quickly broken up. A loan during training could be helpful. But how do the banks see it?
A loan during training
During training, banks struggle to approve a loan. But the matter is not quite so hopeless. There are differences that are explained in more detail below.
When the training has just started
If the training has only started, a loan is possible if the loan amount including interest and costs is repaid within the training period. Of course, the trainee must have appropriate income. Since the apprentice salary is not sufficient, many work on a € 400 basis. Then the income is sufficient for the repayment in any case.
Credit during training, when it is almost over and there is no declaration of acceptance
In this case, the banks will not grant a loan. In such a case, the income situation is not guaranteed. Despite good credit, the bank cannot be sure that it will receive its installments on time, month after month. The trainee can expect a rejection.
The apprenticeship is almost over and the employer has given a written acceptance
In this case, there are no problems with a loan approval. This is where the bank can count on it to get its money on time. The ideal case is when there is already an employment contract that the bank can view. In these cases, the bank may also want to see an employment contract before lending in addition to proof of income. If the customer is already in a permanent position, the pay slips are usually sufficient.
A loan for families with children can be taken out for many reasons. That is why there are different types of credit that take account of these very reasons. We have compiled a selection of the most important loan agreements in connection with families for you here.
The classic: the building loan
One of the most important loans in this context is the home finance loan. With children in particular, it is often particularly difficult to find a rental apartment. Because many landlords fear the noise associated with children and often accept pets. All of these problems can be avoided with your own property. In almost all cases, however, the purchase only works with a loan. Here you should inquire as a family. Because some banks offer cheaper building rates for large families. This also applies if a property is inherited and has to be extensively renovated.
The car is too small
Another important loan for families with children is the loan for a new car. Because often enough you find that your own car reaches its limits from the first child and exceeds them at the latest from the second. You don’t always have enough money on the high edge to be able to buy a suitable car at short notice. But this is needed immediately. In this case, it makes sense to get detailed information about the various possibilities of car financing. It is often the case that only cash payers benefit from discounts from car dealers. Therefore one should open the counter calculation, whether a cheap loan for families with children does not pay off sooner than the regulation of the financing through the car dealership, if one takes into account the possible savings.
Living more beautiful but also more practical
Other reasons for taking out a loan can often be found in your own four walls. Because the apartment or house must be set up in a variety of ways to be child-friendly. A lot has to be thought of, from a cot to a changing table to bars on stairs. There are also one or two strollers, your own baby chair and many other small and large things. A credit for families with children makes sense here, because after a year or two of savings, many of these pieces of furniture are no longer needed. Just improvising for months isn’t a solution either. Therefore, an installment loan is also advisable in this case.