It is nothing new that Spaniards have always been prone to request financing to deal with projects or simply to have an extra liquidity. So much so, according to data obtained from a study carried out by Fintonic, one out of every three Spaniards over 55 has requested personal loans. However, it seems that this trend is being lost in the new generations, since, according to the same study, only one in 10 young people between 10 and 24 years has requested some credit. In the following article, we will explain what are the financial preferences of the Spaniards and we will show some of the most advantageous loans.
Trends of Spaniards when asking for consumer loans
Thanks to the study prepared by Fintonic, “Consumer Credits in Spain”, we can draw several conclusions related to the most common trends of Spaniards when requesting, managing, using and reimbursing personal loans.
We have already commented on the number of people, based on their age, who have requested personal loans. However, if we leave aside age, the study indicates that one in four Spaniards has asked for a loan at some time.
In addition, as we already know, when we request a personal loan, we must choose the amount we want and the term in which we will reimburse it. This will determine the final cost we will pay for the loan and how much each monthly fee will amount. The study indicates that the average monthly payment that Spaniards pay for the credits amounts to 140 euros per month, so we can affirm that no large loans are requested.
On the other hand, it is interesting to know what the purpose to which the personal loans requested by Spaniards is intended. Well, according to data provided by the startup Wanna, 50% opted to use them to travel, 28% to buy electronic products or services, 12% to finance studies and 10% in everything related to vehicles and automotive.
Ultimately, it should be noted that 41% of Spaniards who apply for financing are people with a job and 38% are students or people seeking funding to undertake a new project or business in the labor market.
How to know which personal loan suits us?
In the current financial market, we have a large supply of consumer loans via discountshoppingcenters.com/. In fact, many entities launch loans destined for specific purposes and that usually tend to be more advantageous than generic ones.
In any case, when we decide to take out a loan, it is important that we look at the following aspects : the amount they allow us to access, the term that we can choose, the interest, the commissions and the possible linked products that it includes (it is said, the APR), the requirements that require us to comply and the services related to the flexibility they offer (as well as the possibility of early amortization of the capital or request a period of extension).