This summer, 60% of Spaniards (28 million) will go on vacation, a few days of relaxation for which you will have to pay an average of 1,789 euros per person, 10% more (163 euros) than last year. To meet this expense, 3 million people will postpone spending (17% of the total) and of these, 1.9 million (65%) will use a financing product that will assume some cost. How much? A report on the Kelisto.es savings website reveals that those who decide to finance their summer break will have to pay per capita 49.3 euros on average in interest, which means a total expenditure of 97.7 million euros.
When deferring holiday expenses, personal loans will be the most chosen option (47%), followed by financing offered by the establishments where travel is contracted (46%), credit cards (25%) ) and loans from friends and family (9%).
"Until not long ago, credit cards were the most chosen product to finance an extra expense such as summer vacations, especially because of their flexibility and because of the scarce offer of loans for relatively small amounts in the market. However, the increase in bank proposals has allowed a change in trend to occur. Of course, this variation has been accompanied by an increase in the cost of loans, which
Traditionally, they had been much cheaper than the cards, "explains Personal Finance spokesperson Kelisto.es, Estefanía González.
«The plastics that offer deferred payment apply an average interest of 17.97% TIN (Nominal Interest Rate): 19.59% in the case of bank linked cards (those granted to those who are clients of a bank ) and 16.36% in the case of those that do not require changing entity
for your hiring. On the other hand, the loans apply, on average, a TIN of 6.35%, 64% lower than that of the cards. Now, if you take into account the fees and expenses associated with this type of product, the cost of both types of products is much more similar, "he adds.
«To finance an expense such as the holiday (1,800 euros), in three months, the average APR (Annual Rate Equivalent) that would be assumed with a credit card is 19.88%: 21.62% with cards with bonding and 18.15% with those without linkage. With the loans, the APR would remain at 19.11%, 4% less: the difference, therefore, is small, although, in practice that means a saving of 5.06 euros per person in interest (10 million euros). of euros in total savings), González remarks.
Catalonia, Andalusia and Madrid, the communities that most resort to credit
The Autonomous Communities in which more people will resort to financing to pay for summer holidays are Andalusia (361,282 people, 18.23% of those who will pay in installments), followed by Catalonia (315,558, 15.92%), the Community of Madrid (282.323, 14.25%) and the Valencian Community (209.117, the 10.55).
At the other extreme, Melilla (3,488 people, 0.18%), Ceuta (3,632, 0.18%), La Rioja (12,993, 0.66%) and Cantabria (24,467, 1.23%) will be located. .
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