With the loan for 4000 USD you have the full choice among different banks and financing partners. It is a medium loan amount that is worth not using the most short-term and flexible form of financing – the overdraft facility. With this loan amount, no special deposit of collateral is necessary, as it would be necessary, for example, with real estate loans. The credit for 4,000 USD occurs in various forms beyond the classic retail customer loan. Therefore, read more about the different manifestations and their advantages and disadvantages.
The ever-renewing shopping loan
Some banks have recognized the gap between the spontaneous and the flexible – but expensive – overdraft facility and the retail customer loan, which is often only available for a term of 12 months or more. With a one-time credit check and no processing fees, they offer an ever-renewing shopping loan. Use is made easily at the ATM or the cash register of any retailer who also accepts the girocard. The purchase amounts are collected in a credit account.
A fixed percentage of the highest previous open balance (for example 10 or 20%) is then repaid monthly. Special repayments are easy and can be made by bank transfer. The loan for 4,000 USD is extremely flexible in this case. This form of credit was invented for the first time in the USA and is known there as the “revolving credit facility”, from which the headline, which is unusual in German, is derived. But it hits the core of the loan best!
The classic consumer loan
With the loan for 4000 USD as a classic consumer loan, you should try a little and compare different providers and terms on the Internet. So you not only find the best loan for yourself, but also support low interest rates through interest-conscious behavior. The optimal term depends entirely on your monthly surplus. If you finance a vacation with the loan for 4000 USD, then the repayment period should be 12 months. So you can take a new vacation next year without paying off the vacation of the “old” year.
Purchasing accounts at mail order companies and teleshopping
Here you should pay close attention to the conditions and the actual interest. Because companies use very different variants of these purchasing accounts. Sometimes it is actually a cost-effective form of financing for the customer – because the mail order company uses the 0% financing as a customer incentive. In other cases, this is also a classic installment purchase and the calculated interest can in some cases reach a double-digit amount. Therefore, there is unfortunately no generally applicable rule as to whether shopping accounts at mail-order companies or teleshopping are really a cheap loan alternative.