Take It As Seriously As Possible
Remember that you are borrowing somebody’s precious money and that you are paying dearly for it. This means that a loan must never be taken lightly and without calculating the course that the events might take while you are committed to the payments.
So, Do Your Numbers
basic loan information
You should be able to determine first of all, how much you need, if you really need it and how long you are willing to take to pay it back. Then start your inquiries. On-line free quotes are nineteen to the dozen, so there you have your first real numbers. Then align it against your credit status and get the general picture.
Be Well Prepared
Once you have chosen a lender you can trust, be prepared to negotiate. Prepare your interview in advance.
This is something I always stress. Be prepared for all the questions you might be asked, put yourself in the lender’s shoes and think of all the questions YOU would want to know about your borrowers, so as to have an idea if they are safe customers or not.
But, What Is A Negotiation Anyway?
Well, it is the give and take that the parties carry out in order to meet an agreement. If there is something unusual you would like, for example a specially long term, be prepared to accept your counterpart to ask for one or two points more on the APR or even some collateral.
Something So Little Talked About
The fees: This item is generally overlooked and mind you, it could amount to one extra installment, or more, depending on the case. Our suggestion should not necessarily be the only one. Invent, create. Offer to spread the fees on the installments, so you do not need to make the up-front payment for administrative expenses.
Actually, make sure that the lender gives you a complete service, like getting your credit report for you, so you can negotiate with the real facts on the negotiating table. Automatic electronic debit from your bank account is also a good point, so as to avoid the trouble of paying personally. All this can make the fee pay for itself.
So, What Is It You Need?
Do not be afraid to ask for what you want. Remember lenders live on the business they get from you. Depending on the amount you are asking for, you can even ask to negotiate with the manager. He would be very glad to tailor a special loan for you if you assure him that through you they can obtain many more customers. How? I give you the ideas. You can create from there.
Do not Ever Consider Yourself a Loser
There is always a lender who will be willing to take you on as a customer. Remember that a good negotiation always means a win-win situation.