They are popular and easy to reach online – loan calculators. They are designed to enable the borrower to calculate the key features of his or her potential loan. This includes, for example, loan amount, interest and repayment rate. But how trustworthy and reliable are the loan calculators? To anticipate the answer to this question: you won’t find any on our site.
Why are the loan calculators wrong?
Serious and honest loan comparisons can only take place taking your very personal situation into account, because this is the only way to find the optimal term and interest rate. Although loan calculators can be used as a rough guide, they should never serve as the basis for your decision. Because a calculation of the possible loans is wrong from the start.
A calculator knows neither your individual needs nor your requirements and often attracts with cheap loans that cannot occur. This quickly leads to the conclusion of a loan that quickly turns out to be a rip-off. They are also often manipulated by providers in such a way that addresses and other sensitive data are collected. The information collected is then often passed on to customer buyers or sellers who use aggressive methods.
You should therefore always make sure to make your credit comparison personally. We offer you up to 20 individually tailored and feasible offers with affordable interest, from which you can choose the one that suits you. Fast, easy, serious.
How do loan calculators work?
A loan calculator always calculates your potential loan with the help of a database created by the operator of the respective calculator. In plain language, this means that the information you enter on the computer is compared with that in the database. Based on this comparison, an offer will be made to you.
However, neither the calculator nor the ejected offer sufficiently records your individual situation. It is not uncommon for the data with which your request is compared to be out of date and the resulting offers are also incorrect. A reliable and realistic comparison can only take place taking into account your individual, current conditions.
What personal information does the loan calculator want?
A credit calculator is primarily about collecting your personal data. Above all, the computer wants:
- Your income
- Your debt
- Your living situation
- the number of people in your household
- Your expenses, such as housing costs, insurance, car, etc.
In addition, details of your desired credit will be requested from you in advance. This means that the loan amount, preferred interest rate and term must be specified. Loan calculators that generate Credit bureau entries automatically when used are particularly dangerous.
If this happens to you, you will no longer receive credit from many banks due to your loss of creditworthiness. For these and other reasons, we do not carry out a Credit bureau query because we know that you can fall into the debt trap completely innocently through such computers or otherwise.
What problems can arise with a loan calculator?
The number of loan calculators made available on the Internet can hardly be overseen. Many of these are dubious providers that you should beware of. The following problems can arise:
- Loan calculator from dubious providers
- Loan calculator that automatically generate Credit bureau entries when used
- Your data will not be protected and passed on
- Computers often calculate inaccurately and incorrectly
- Offers are often unrealistic
Our tip: make a personal loan comparison!
A serious comparison of loans can only be made on the basis of realistic offers, which we would be happy to send you on request. And 100% free of charge. With us, your data is subject to strict protection and is completely secure. With over 40 years of expertise, we are the right partner for your needs and will be happy to help you make your dreams come true.
Credit comparison – if correct!
A trustworthy and reputable credit comparison ensures the best result tailored to you, even without a loan calculator. You will also find the right loan, which enables you to finance your dream. Choose from the following types of credit and save yourself uncertain forecasts using a credit calculator:
- Personal loans
- instant credit
- installment loan
- car loan
- small loan
We are guaranteed to find the right loan for you. Without a computer. A smaller loan often has a shorter term of a few months, whereas other, larger loans offer the possibility of a term of up to 180 months. You determine the lowest possible value for your interest rate yourself. Here, a lucrative effective annual interest rate can serve as an important point of reference.
As with Credit bureau, unlike many banks and perhaps also your private bank, we are not interested in the purpose of your loan and are entirely up to you. Whether a loan for a new car, a vacation or a mortgage: you decide for yourself. Take 2 minutes and submit your individual and free loan application.
There are no risks or hidden costs for you. Immediately after you have submitted your request to us, we will check your personal requirements and immediately start negotiating with national and international lenders for you. They will prepare a package tailored to you.
Shortly after submitting your application, we are able to offer you up to 20 serious, tailor-made options from which you can freely choose the one that suits your requirements. The loan offers vary in term, interest rate and other possible conditions, so that we are guaranteed to find the optimal loan for you. Without the risks that loan calculators pose.