Loosing a loan means using the opportunity to cancel an existing loan in its existing form. A loan repayment is particularly worthwhile if you can replace high interest rates with low ones. As a result, the borrower has to pay less money overall for the same loan if the expensive loan is repaid.
This can be the case, for example, if, due to the development of the market interest rate, the loan interest is lower than at the time of the first borrowing. In addition, it can happen that borrowers have a better credit rating at the time of the loan repayment and the remaining debt can be rescheduled at a lower interest rate. If borrowers want to replace an old loan with a new loan, the debt can be rescheduled either at the same credit institution or at another lender. A loan comparison is therefore worthwhile in order to find the loan offer with the best conditions for the loan repayment. Apart from debt rescheduling, a loan can be redeemed if there is newly acquired equity.
Repay the loan early with new equity
In a financial emergency, you have taken out an installment loan from a bank, which you are currently paying back monthly with high interest rates. Newly acquired equity now opens up new opportunities for you: the loan can be redeemed early, which saves you interest costs.
With the appropriate financial means, the loan repayment makes sense in any case, since the repayment of the remaining debt then takes place without the interest costs that would otherwise have been incurred over the remaining months or months.
Repay loans early and reschedule them
If you cannot settle the remaining debt of a current loan at once, but still want to benefit from interest savings, a debt rescheduling can be worthwhile. Borrowers can take out a new loan to replace an old loan. If the calculated savings are in relation to the remaining term and the interest payments, it is worth repaying the expensive loan, even if you are repaying a loan with a loan, so to speak.
Anyone can redeem a loan
Yes, in principle lender offers everyone the chance to get a loan and thus also to redeem an old loan – even private individuals with less than ideal credit ratings or groups of people who are usually rejected by the bank, eg self-employed, employees (also during the trial period), freelancers and students.
Simply calculate your loan and submit your loan request without obligation. In the credit calculator, you can specify, for example, clearing current account / overdraft facility as the purpose. Within a few minutes you will know whether we have fulfilled your loan request and you can take out a new loan to replace an old loan.