Not only do people not want to renounce the earned annual leave, most of the consumers in Germany also try to travel at least once a year. However, the financial situation does not always allow for the fact that a vacation trip can actually be booked and taken. According to current surveys and statistics, more than 30 percent of Germans do not manage to set aside a certain amount of money each month as a reserve. Of course, this means that often there would be no vacation trip if there was no possibility of financing. Fortunately, however, this option exists, especially in the form of a holiday credit, which is given by various banks.
How can I finance my vacation?
Your own bank is certainly the first port of call when it comes to financing an upcoming vacation. However, your own house bank does not always provide the opportunity to use a special holiday loan. This is not an end to the world, because there are still some alternatives to the special holiday loan, which is mainly offered by some direct banks. Possible alternatives include:
- Classic installment loan offered by virtually every bank
- Pay installment agreement with the travel agency
- Tourism companies or tour operators allow installment payment
As you can already see from this list, it is now common in practice that the provider of the trip, such as the travel agency or a tourism company, is willing to accept a payment in installments. It is not a classic loan because it lacks a characteristic, namely the disbursement of the loan amount. However, the agreement that travel expenses can be paid in monthly installments ultimately leads to it being nothing more than a loan. It also comes out for you as a customer to the same thing, because if you pay monthly, for example, a holiday loan from the bank or just pay the installments to the tour operator makes ultimately no difference. However, it is important to compare and compare offers precisely in terms of interest rates and other terms. Sometimes the holiday loan of the bank is the cheapest option, but also the installment payment agreement with the travel agency or the tour operator can sometimes be the cheaper alternative.
Worth knowing: Holidays can be financed in different ways
It is certainly good to know that given that your credit rating is not too bad, you have several options to finance your next vacation. The most frequently used is the bank’s vacation loan, but the installment payment agreement with a travel agency or tour operator is also frequently used.
What distinguishes the holiday loan of the bank?
When it comes to the direct comparison between holiday credit, installment loan and financing through travel agencies or tour operators, then you should of course be able to ask the question and also answer, which can distinguish the holiday loan in particular. First of all, the simple and transparent application that can be carried out on offers on the Internet 24 hours a day certainly speaks for the holiday loan. If the holiday loan is also an instant loan at the same time, often only two or up to three working days pass before you have your capital. Thus, the holiday loan often has the advantage that you can finance so-called spontaneous trips with it. This advantage is often not a classic installment loan, especially if it is applied for and completed at the bank branch.
Favorable conditions al further advantage
Another advantage of the bank’s holiday loan is that it will dictate at particularly favorable interest rates. With not a few banks, it is the case that such special loans, which include, in addition to the holiday loan, for example, the car loan or the removal loan, are once again offered at cheaper lending rates than conventional installment loans. Of course, this is not necessarily the case in any case, so here too our tip is to compare the offers or have them compared. It is also advantageous in the case of a holiday loan that it is usually given as a blank loan. As most holiday trips to be financed have a value of between € 2,000 and € 4,000, most lenders do not consider it necessary to take collateral in the form of sureties or pledges.
An additional advantage of the holiday loan can be that it is sometimes awarded to a negative credit entry. However, this is rarely the case and you would then have to resort to special offers that you can find, for example, under the name holiday loan without credit. What such special variants include and how you can find the possibility of financing a negative credit entry, we would like to explain in more detail below.
Our tip: take advantage of the holiday credit, even with negative credit
In principle, the holiday loan has some advantages, such as low interest rates, great flexibility and easy application. You should use these advantages, especially if you want to finance your next vacation at a relatively short notice.
The holiday loan without credit: Financing despite negative entry
The holiday loan without credit is characterized by two special features. First, it is a specialized loan, which is used exclusively to finance a holiday. On the other hand, this loan is also forgiven if other banks have already rejected the application because of a negative credit entry. The reason is that such vacation loans without credit are not tied to a proper credit information. Again, the reason is that the lender does not do a credit query. Accordingly, the loan without credit is a special variant of the Swiss loan, also referred to as a loan without a credit or a credit-free loan. They can either find such offers on their own or hire an expert to compare and search for suitable loan offers in this segment.
We would recommend the latter alternative, which can be explained by the fact that there are many dangers in the search on your own. Unfortunately, especially in the segment of creditfreien loans unfortunately dubious offers that you can not immediately recognize. The risk is therefore not insignificant that you ultimately use a holiday loan without credit or a more general loan without credit, where you pay high interest or a placement fee, although then you may not get any credit. This risk does not exist if you opt for a credit comparison that we would like to carry out for you. Among other things, we specialize in making comparisons of numerous types of credit that can be used on the condition that no proper credit information can be provided.