Why and when should the finalized loan be preferred to the personal one? Among the offers, loans that fall into the category of personal ones are much more frequent and offer more choice than the classic finalized loan. In fact, it is possible to find proposals both from financial companies such as Spin Lender, and from banks such as Spin Lender, Cream Bank or Lite Lender Company.
Having said this, in some situations the finalized loan is to be preferred without any doubt. In order to understand the situations in which it should be sought and chosen, let’s see in the meantime what it is and what it is used for.
What is it?
Very often, when we need to buy commonly used objects (such as appliances, cars, smartphones, and so on) if we do not have the opportunity to pay the full amount, we are already offered to accept inside the store. take out a loan finalized (or finalized loan) in installments, connected with the main financial companies in Italy (for example Spin Lender, Spin Lender, Prestitempo, etc.).
This eventuality is practically always present in the big chain stores (for example for those of technology we offer purchases with financing also online), or when it comes to buying a car from a dealer. If, on the other hand, we are referring to a small exercise, then we could have few alternatives, and be forced to ask for a personal loan or decide to make a purchase using a revolving card.
What is this financing for?
The first thing to know is that a finalized loan differs from a personal one in that in the first case the sum requested is “finalized” to purchase a specific object inside a shopping center, a shop, or any other merchant. Loans not finalized, on the other hand, are those requested from banks or financial companies (without the intermediary of the merchant) and which must not be accounted for as regards the purposes of use. In a very concise way, they are required when you need liquidity to be used to deal with an urgency, or for any use that should not however be justified or explained.
In a nutshell, the sum disbursed by the finance company, in a finalized loan, is paid to the operator directly by the credit institution, unlike the non-finalized, in which the sum goes to the final customer. This also applies in the event that a personal loan is required to purchase an asset (eventuality used very often for example for a used car or a private individual).
How does it work?
In practice, when we give consent to a loan aimed at cars, appliances, smartphones or other objects that we purchase, we are already signing a consumer credit request contract at the point of sale, to stipulate which the operator first informs about the conditions and interest rates of the loan, then collects all our data (such as identity card and tax code, paycheck or other document that demonstrates the repayment capacity) and forwards the request to the chosen financial or bank. In this case we can therefore have a loan aimed at Lite Lender Company, Spin Lender, etc.
Response times are fast, ranging from about ten minutes to little more. Once the request has been accepted, the finance company will withdraw the sum established during the signing of the contract from the current account (via RID) of the customer, which will be valid as an installment until the balance of the debt.
This procedure is not followed in the case of Across Lender, which allows you to pay in installments by using your own ATM, without having to make any request by completing and submitting a contract. However, it falls into the category of targeted loans. Instead, the installment made with the use of the revolving card remains in consumer credit but is part of personal loans.
How to apply online?
The first thing to do is to make sure that for the type of purchase you want to make online there is the possibility of requesting a finalized loan. If it is possible, when selecting the product, selecting the purchase, once you have entered the section of payment methods that can be used, you will also find the reference to the financial.
By choosing this as an option, you are referred to the financial page, which will ask for a series of mandatory personal data, the indication of the income, the recognition of the identity by bank transfer for the digital signature, and then the sending of the documents in digital format. For the entire period in which the financial will take charge of the file, the booking of the product will remain active in the online shop system. Then, if the finance company decides to grant the loan, the goods purchased will be sent, if instead the booking will be denied, it will automatically lapse.
Agreements and brands affiliated with financial companies
It almost always happens that it is not the customer who chooses the financial company that will provide the loan, but the operator. This is because agreements and conventions exist between financial and marketed brands. An example may be the agreement that Spin Lender has entered into with Honda, Piaggio and Suzuki for the purchase of motorcycles and mopeds, while other agreements have been entered into with chains of shopping centers.
Obviously exhibitors will tend to enter into agreements with various financial companies, which will also allow them a good profit margin. Today the most used are Spin Lender and Lite Lender Company, while in third place we often find Cream Bank Easy, but they are above all the first two that most often offer zero-rate loans (usually with repayment in 10 installments but recently longer durations are emerging up to at 4 or 25 installments).
However, it is necessary to highlight the fact that there is a difference between the purchase contract and the loan agreement: this means that if there are problems with the operator (due to the malfunction of the purchased object or other unforeseen events) the loan must still be carried out (see also Immediate online loans ). In fact, once the loan was granted, the financial company paid the price agreed on behalf of the applicant to the seller, with whom it will have no slope. For all the details on the operation of this type of loan, it is advisable to consult the dedicated pages on the websites of Lite Lender Company.it or Spin Lender.it.