In recent years, it has already been established among all lenders that more and more people choose to borrow for their holidays.
This has everything to do with the fact that people spend more and more money on the trips they plan. Moreover, it has also been established in recent years that the Belgian is increasingly going on holiday more often and above all. We also leave the car at home more and more, which means that the demand for flight holidays has increased considerably. Are you also planning to book a nice holiday and would you like to borrow money? Then there are a number of important factors that you will want to take into account in the first instance.
Can you borrow money for a holiday with every form of credit?
At first it is important to keep in mind that you can not just apply for a loan with every form of credit for booking a holiday. This has to a large extent to do with the fact that very specific conditions are attached to different loans. A classic example is the renovation credit (not that you will want to close it for booking a holiday, but that aside). With this form of credit, payments are only made on the basis of invoices that can be submitted. In concrete terms, this means that the purpose of the financing has been established and can not be deviated from. Do you want to borrow money for your holiday?? Then you will mainly want to look in the direction of a personal loan or a cash credit.
How much money do you want to borrow for your holiday?
Well, by using a personal loan, would you in principle be able to borrow money for your upcoming holiday? In principle, however. Of course, the conditions that personal credits hold are always dependent on the lender in question. This means that it is not inconceivable that a holiday is not accepted by every lender. Checking the conditions carefully is always recommended. Is it reflected that you can just borrow money for your upcoming trip? In that case, you can look at the amount that you need.
The total amount of your holiday is always made up of several parts. Most people who want to finance their holiday only take into account the amount of their stay. That is of course no problem, but what about the transport? Are you going by car? Do you want the costs for your petrol to be borrowed? Have you, on the other hand, booked an individual flight? You may also want to take this into account. In addition, there are also the costs on the spot. Many people only go on holiday once a year, but do not want to be denied anything at all. Does that also apply to you? Then you may also think about including a certain amount for your credit application on the spot.
How much money can you borrow for your holiday?
There is obviously a big difference between the money you want to ‘borrow’ for your holiday and the money that you can actually ‘borrow’. A holiday is never regarded by a lender as a valuable investment with potential. The reason for this speaks for itself. In fact, every holiday that is booked is a bit of lost capital. However, you get a lot of rest and relaxation in its place. In any case, the lender will always look fairly strictly at the options available to you to repay the loan. It is partly for this reason that attention is paid to, for example, any credits already running. In principle, when granting a loan for your holiday, attention is paid to:
- The current credits for which you are still paying off;
- The net income that you have available;
- Other fixed costs (such as investments, etc.) that have to be paid;
Only and only the amount that you actually have after paying all the above costs will you still be able to use to pay your holiday loan. Does it appear that too little funding is available according to the lender? In that case, it does not necessarily mean that the chance is very high that your holiday loan will be refused.
Withdraw money for your vacation from a cash credit
A second option outside the personal loan is to withdraw money from a cash credit or, for example, a money reserve . Such forms of financing make it possible for you to withdraw money at your own discretion without having to account for exactly what the sums are used for. Even if you want to plan a holiday in other words, such possibilities can provide you with additional financial resources. Mind you, you have to take into account that such possibilities are always (much) more expensive compared to a personal credit.
Is money borrowing for a holiday wise?
Finally, there is the question whether or not it is wise to borrow money for a holiday. The majority of people will agree that this is not the case with a survey. Nevertheless, it has to be established that borrowing money for a holiday has become more systematically popular in recent years. This has everything to do with the low interest rates as well as the fact that people do not like to call their savings to go on holiday. Whether or not it is wise to borrow money for paying a trip is a bit personal. Everyone deserves to be able to take time for themselves and to relax in a hectic year. For many people, a holiday is absolutely necessary, but due to slightly limited financial possibilities, this can just pass by. Taking out a loan can then be a very interesting alternative.