During the training, the money is usually scarce and only enough for the most necessary purchases. However, that does not mean that apprentices have no wishes – quite the contrary. Whether you own your first car, modern furniture or a new mobile phone – there are many things that today’s young people simply need.
Credit during training
If you do not have savings and still plan expensive purchases, you have the option to take out a loan. Admittedly, it is not easy for trainees to get the loan they want. But with a little luck and confidence, you may well be able to get credit during training.
Stay realistic and plan carefully
Before applying, you should be aware that only a small loan is eligible. High sums of credit are not granted to trainees due to the monthly payment. However, if you earn enough and do not have high expenses, there is nothing to prevent a loan of up to 5,000 euros. It is important that you can provide the bank with sufficient collateral and remain creditworthy.
After all, banks attach great importance to solvency and want to minimize the risk of loss. Trainees, however, have a low income and no job security. Also a termination of the training or a non-standing final examination represent high risks. Therefore it makes sense, if for example your parents jump in as a guarantor and repay your loan in an emergency.
Credit during training – so you save a lot of money
When starting your professional life, you should not be in debt, but stay as free as possible. For this reason, it is important that you receive a reasonable loan amount and opt for a slightly longer term. This will allow you to repay the loan during training in small increments and minimize the risk of over-indebtedness.
In addition, it is worthwhile to carry out a provider comparison on the Internet before taking out the loan. With only a few minutes of effort you can save several hundred euros – because the first provider is not necessarily the best. Compare all interest rates and other terms before deciding on a loan. Only when you have calculated all expenses and agree to the terms of credit, you should conclude a contract.