Personal loans or consumer credits are amounts of money requested from the banks to finance higher expenditure amounts difficult to assume personal savings or new needs or desires for which there was no provision for funding or savings above. This includes the purchase of a car or motorcycle, home renovation, purchase of appliances, cats financing studies or vacation.
Personal loans require the personal guarantee of the borrower or borrower, and usually that of someone who serves as guarantor (personal guarantee). Unlike a mortgage loan where there is always secured by mortgage on the property itself (the property is collateral for the loan and if fees are not paid the mortgage is executed by the debtor losing housing) for a personal loan has no collateral, ie, property acquired with money from the loan will not support the loan contracted.
In the current credit personal loans and guarantees or endorsements are separate. If fees are not paid personal loan what will happen is that the guarantees will be implemented, ie the fees charged to the person behind us credit.
Personal loans are the most common for the purchase of a car or motorcycle and credit studies. In the case of the car loan (or credit motorcycle) normally if the vehicle is new the best conditions, often associated financial offer the dealer or the brand since they already have very well-calculated risks and can refine and make better bids their customers.
Key stakeholders to achieve a well funded are the dealers themselves as this would ensure good and many sales. The study credits are loans to finance the amount of fees that tend to have shorter time limits and amounts than other loans. They may even have periods of absence (no pay back the loan fees are paid only interest).
The banks and credit can be used as a marketing tool offering personal loans at 0% APR if you meet their requirements: bring the payroll, household bills, etc.. One example is the ‘Payroll Credit 0%’ of BBVA or ‘birth 0% Credit’ for newborns.
Where that has not paid any fees to a personal credit records end up in debtors (RAI, ASNEF) with any inconvenience this may cause, for example when we are granted another loan.
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