Loans and instalment purchases can make things possible – but they almost always cost more than the purchase price.
Key points
- If you do not pay instalments on time, you fall into payment default (Verzug). This can lead to interest, fees and a SCHUFA entry.
- Many loan agreements give you a 14-day right of withdrawal (Widerrufsrecht).
- MeaNext does not recommend credit products.
- Instalment loan (Ratenkredit)A fixed amount that you repay in equal instalments over a set period.
- Arranged overdraft (Dispokredit)You are allowed to overdraw your current account. Interest rates are often high.
- Credit cardPayments are billed together. If you only pay part of the balance, you will usually be charged high interest.
- Instalment purchase (Ratenkauf)You pay off a purchase in instalments. Even “0%” offers have conditions.
- Buy now, pay laterYou pay later or in instalments. Late payments may lead to fees.
- Interest and repayment periodThe longer the repayment period and the higher the interest rate, the more expensive it becomes overall.
Purchase price + interest and fees = actual total cost
Pay attention to the annual percentage rate (effektiver Jahreszins) and the total amount you will end up paying. This amount is stated in the contract and must be disclosed beforehand.
MeaNext provides general information about debt, payment reminders (Mahnungen), garnishment (Pfändung) and financial problems. This information does not replace individual debt, legal or financial advice. Deadlines, contracts, types of claims and personal circumstances may be crucial in your particular case.
Last reviewed by a specialist: 09/10/2026