Personal loan for kitchen
A new kitchen is often a major expense. It is not surprising if you do not have such a large amount in your savings account.
Many kitchen suppliers respond to this. You can buy a new kitchen on an installment plan. This means that you pay in installments for the kitchen afterwards. The amount that you have to pay monthly consists largely of interest. The interest rates for installment purchases are sky-high. These interest rates run up to 14% . That rate is a lot higher than the 3.5% interest with which our consumer loans start. In addition, when paying in installments afterwards, you sometimes face hidden extra costs.
0% interest is misleading
At Ikea, for example, it was possible to buy and pay for a kitchen in 18 months with 0% interest. This seems very attractive, but there is a catch. Only if you meet strict conditions, this offer of 0% applies. If you do not meet this requirement, interest will be charged immediately for the outstanding balance. The interest that is then charged is 13%! Much higher than the fixed interest rate from 3.5% that Snaploan Online uses.
Ikea has now stopped offering the spread and payment of its products afterwards.
Take out loan for kitchen
It is also possible to take out a loan for the purchase of your new kitchen . When you take out a personal loan to finance your kitchen, you also have the option to buy a kitchen without having to put a large amount on the table at once. However, the fixed interest of a personal loan is many times lower than when you buy on installment. And you can always make extra repayments on our personal loans without penalty.
Tax Benefits for Homeowners
It is even possible to deduct the interest costs of your loan for tax purposes. In the Netherlands, interest costs are deductible if you use the loan for an improvement or a renovation to your owner-occupied home . You can use this tax benefit, for example, to make additional repayments on your loan, so that the loan amount becomes lower and your term shorter. This extra repayment on your loan is penalty-free.
Borrowing versus buying on installment
It is much cheaper to borrow the amount for the purchase of a new kitchen than to buy your kitchen on installment.
Of course, this also applies to other forms of installment purchase, such as a car, an e-bike or new furniture.
Do you want to take out a loan for your new kitchen? Request your quote without obligation and online . You will receive an overview from us containing the proposal from our partner banks. You choose the best proposal yourself; we convert that into the desired loan for you.