There are various changes when it comes to borrowing money in 2020. These changes can have both a positive and negative effect for consumers who want to take out financing in 2020. We would like to list the most important changes for you.
Changes in the maximum amount of credit to be provided
The banks with which 2Fast4Paws cooperates all adhere to the VFN standards. As a result, we know in any case that we will also continue to provide responsible credit. A major change has taken place in this standard. An extra amount (surcharge) was added to this standard as of January, so that you can borrow less money. Different spreads have been added to the different family compositions, which means that the maximum amount of credit falls.
Effects of the change
The effect of this change seems very significant, but is limited by the fact that net income increased as of January due to the change in tax rates. As a result of this change, we will receive slightly more net income, so that the effect of this change will be limited.
Age for loans
Actually, something that has already started in 2019 is the shift in the age for lending. Where it was only reversed in recent years, it is now being released again. It is now possible to take out financing up to your 74th year of life, as long as it is paid back before your 78th year of life. Our expectation is that more parties will follow in 2020 so that the maximum age for financing will be further increased. We will of course keep you informed of this.
A few things have also changed in the field of the car loan . Not so much in the standards, but in the range. 2Fast4Paws has entered into a unique collaboration between various parties, which gives us more options than our competitors. Do you want to know what we can do for you? Please contact us and we will let you know immediately what the options are. Your car financing is in any case directly and properly arranged with 2Fast4Paws.