Sometimes life plays a different kind of music than you would like or imagine. Unforeseen events or far-reaching changes cause a stir. And sometimes also in finance. It can quickly happen that money is needed that is currently not available. As a rule, one then thinks about taking out a loan. Stupid only if a loan is already being used. Is it still possible to take out another loan despite a loan? And how should you go about it?
Everything is possible
In general, a loan should not be an obstacle to taking out another loan. But on the contrary. Many people practice a loan very successfully despite a loan. You just have to meet some conditions for approval.
For example, nothing significant should have changed in creditworthiness since the loan was taken out. Especially not in a negative way. Sufficient money must also be available for the loan in order to be able to process the installment payments every month. The lending bank will draw up an income and expenditure account for the determination in order to be able to calculate the money which is freely available every month. Based on this calculation and its result, the amount of the loan and its installments can then be determined.
Select the right bank
Since a loan is easily possible in spite of a loan, one should compare the offers in this regard very carefully – in order to get the loan as cheaply as possible. It is usually the case that you get a second loan from the bank at particularly good conditions, where you have also taken out the first loan. People already know each other and the bank can assess the payment behavior of the borrower particularly well.
However, you should not always be tempted by the first offer. A comparison of other loan offers can sometimes reveal an even more lucrative offer. And that doesn’t have to be at the house bank. You can also apply for a loan online without much effort. The check is carried out online. The money is then transferred to a specified account or it is paid out by check. This means that there are many options for borrowing despite the existing loan and can be used.