Thursday, April 08, 2021
Online Loans

Extra Long-term Loan- up to 144 Months in Comparison

If you are looking for a loan with extra long maturity, you can assume that it has a higher total cost burden overall. The extra-long-term loan gives the customer low credit rates. Of course, loan seekers can set the term as desired. For a small loan but no long term should be chosen.

Briefly survey the fake – 3 sentences

  • Directly in comparison, you can freely choose your term up to 144 months (12 years)
  • Apply today for your preferred loan with small installments
  • The software checks immediately and ensures planning security
  • Extra long-term credit – Facts

Credit with extra long term – small installments – certainly affordable

Credit with extra long term - small installments - certainly affordable

Customers who opt for an online loan can benefit from a long term, just like branch banks. The advantage of an extra long runtime can be seen in the installment. Customers pay lower monthly rates than a short term. So there is more in the purse as a monthly surplus, so that other things can be paid with it.

However, an extra-long runtime also has disadvantages. The customer has to pay for installments for years to come. So there are loans that have a term of 20 years. Who chooses this long term, should estimate in advance whether he can pay the installments in the future. Loss of employment can bring a reduction in income. But even a serious illness that causes a disability reduces the monthly budget.

Long-term loan – advantages and disadvantages

Long-term loan - advantages and disadvantages

Unemployment often comes as a surprise, as does a serious illness. This not only turns normal life on its head, but these events are also financially noticeable. Often, customers can no longer pay for a loan. The longer the term of a loan, the higher the default risk.

Banks like to see customers choose a short term. That is manageable. Those who choose a long term, the banks often offer a residual debt insurance or rate protection insurance as it is also called. However, this insurance is very expensive. The contributions are added to the loan amount for the entire term. The insurance protects against unemployment, disability and death. Anyone who chooses a residual debt insurance should then better seek an independent insurer, instead of accepting the insurance from the bank.

Credit with Extra Long Term – Requirements

Credit with Extra Long Term - Requirements

Anyone who chooses a loan with an extra long term should be of age, so that he can apply for a loan. The residence should be located in Germany. Of course, the credit rating plays a crucial role. By this, banks understand a sufficient and regular incoming income.

Banks like to see it when the income comes from a stable and secure job. The employment contract should not be limited in time and should not include a probationary period. Very important is the clean private credit who has negative entries in the private credit, who will not get a regular loan. Those who opt for a loan with extra long term should plan the loan well. Decisive for a long running time can also be the intended use.

Long-term loan – mortgage lending

Long-term loan - mortgage lending

Mortgage lending is the most popular type of loan with a long maturity. The reason is that in a building loan high loan amounts are included. Credit sums of several hundred thousand euros can not be paid in five years. To enable the borrower to pay the installments, terms of up to 180 months are offered.

But there are also lenders offering loans with a term of up to 240 months. Banks do not like to see it, but even a small loan can be concluded with a term of up to 120 months. If you have a bad credit rating and can pay only small installments, you choose this option. Thus, a loan remains affordable.

Long-term loan – auto-financing

Long-term loan - auto-financing

Anyone who buys a new car today has to dig deep into their pockets. Since 40000 euros are not uncommon what a car costs. To ensure that car loans remain affordable, banks offer car financing up to 144 months. If you want to repay your old loan, you can also choose a longer term.

This makes the loan rate lower and affordable, which is especially important for a long term. Important for a long term is also that the interest rate is fixed. Especially when the loan is closed today, where the absolute interest rate low exists.

Credit with extra long term – find cheap provider

Credit with extra long term - find cheap provider

If you want a loan with extra long term, you should make sure that the conditions are favorable. Borrowers can use a credit comparison. The comparison is offered by many finance portals.

The credit comparison of Creditend is non-binding and free and explicitly shows only reputable providers. Customers can compare not only the various providers with a comparison, but after entering the loan amount and the term also the amount of credit advice.

Even with a credit comparison, the term plays a crucial role. Because for me, the credit installments can be increased or decreased. As for the displayed interest rate, it is not relevant for all customers. Mostly the interest rate is calculated according to the credit rating. This means who has a good credit rating, which will also receive a favorable interest rate.


No matter what term borrowers choose, it is important that a long term can bring problems. Nobody can predict if the living conditions will stay as they are at the moment.

Those who opt for a long term should perhaps consider the possibility of a rate hedge. Although this insurance is expensive, it can ultimately pay off. However, a long term makes a higher loan amount also affordable. For example, an acquisition can be made that is otherwise unaffordable.

Think of a property here. Many people have the dream of home ownership. With a long repayment period, he might be realized. Nevertheless, the risk of a long term should always remain in focus.

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