Most common reasons to request a loan

If you are not sure if you need to apply for a personal loan, you may first need to know the most common reasons for requesting a loan. In Astro Finance, we have all this data and we will tell you what are those reasons why users request more loans with us. Do not miss it!


What do users ask for a loan?

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Although there are many reasons to request a personal loan, let’s say there are several that are most requested. The first reason why users ask for a loan is to reunify debts. Specifically, 20 out of 100 users who request their personal loan with Astro Finance do so for this reason.

Debt reunification, consists of putting all your current loans together in just one, to pay in more years and more comfortably. So it is the financial product that is most interesting to our users right now, with more than 20% and closely followed by home loans.

In the case of home loans, we talk about a percentage of 20%. So many users who request extra money do so to cover any possible holes in their homes, such as a home renovation, a spill from the community of neighbors, etc.

Of course, we have a wide variety of reasons to choose a loan. With an 11% share we have consumer loans.

What more reasons lead users to ask for extra money? 8% request extra money to travel, to enjoy an incredible and well-deserved vacation (4 out of 10 Spaniards would do it), for a honeymoon, etc. A reason more than weight.

Loans to buy a used vehicle and a new vehicle account for 7% and 6% respectively, so they are also high figures. Users continue to use financial institutions or fintech companies to acquire vehicles.

But personal loans are also requested to pay for studies, for health issues (3% both), for help with the objective of setting up a business (2%) and only 1% of so for electronics issues, such as Buy a computer or smartphone.

Although the reasons are varied, the main reasons for applying for personal loans go through the reunification of debts and household issues.


Why are the reunification of debts and loans to cover holes at home so requested?

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Both options are very interesting when asking for an extra amount of money. In the first case, as we anticipate, many users feel that they can no longer with so much loan on the one hand and on the other. To avoid this, they decide to reunify the debts with this product. In this way, instead of several loans you have one with better installments and in return the deadline for repayment is longer.

On the other hand, we also have the loan application for household issues. Also as we told you, it is common because many owners decide to make a reform of their home and it is a high cost; So applying for a loan is usually the best decision to take it as well as possible.

However, although with more than 20% of the requests, the reunification of debts is the most successful financial product, you see that there are other compelling reasons that lead users to request their money in Astro Finance.

If you also want a personal loan with the best conditions, do not hesitate to get our app, connect your bank accounts and see how much money you can access and under what conditions. And, if you have any questions, here we are to help you!