Request a mini loan if you are 18 years old
18 years and request a mini loan? If you want to borrow money quickly when you are 18 years old, you could request a mini-loan from some lenders. However, with most mini-loan providers you must be 21 years old, but there are exceptions. You have to check carefully whether you can repay the borrowed money on time at the end of the term.
18 years and borrow money?
When you are 18 you also have your expenses and you want to do something extra. You have a part-time job and yet you run out of money. It is absolutely not wise to borrow money through a mini loan. Certainly when you are 18 you better save money first before you buy something or start doing things that are above your budget. It is not for nothing that you have to be 21 years old at most mini-loan providers. The risk of borrowing money when you are 18 years old is too great. If you are 21 years old, you are more likely to have a job and to be able to pay back the loan on time. Lenders therefore do not take the risk of already providing a mini-loan to someone 18 years of age.
Although the lenders also want to earn money, they do not consider it justified to lend money to people aged 18. even if you are 21 years old, it is still risky to borrow an amount of 1000 euros, but the risk is considerably less at this age. You should first save money or consider borrowing money from family, friends or acquaintances. You borrow a lot cheaper and the conditions will be more flexible in most cases.
Why would you borrow money when you are 18?
Why would you borrow money when you are 18? Many young people want to get their driver’s license and do not have the money in their account. Whether you want to go on holiday, buy new clothes or have that new iPhone. All things that can also wait a little when you are 18 years old. Therefore, do not start making debts at the age of 18.