Reasons why we can apply for a loan can be innumerable, but in Mexico there are 7, and you, why would you ask for a loan?

Having access and knowing how to use a credit is essential for people’s daily life, that does not mean that you need to ask for one, but that when necessary, you know how to use it properly. You will be surprised to know what people usually use the credits and from there, you can plan your next big project.

Learning about this powerful tool allows you to use it better and gain in quality of life. Credit in the best possible conditions, can be the way to reach your goals or can help you in a difficult time or in an unexpected situation.

The credit allows access today to what, otherwise, it would take months or years to collect to acquire. In modern societies there is practically no significant consumption without credit, and it is a symbol of social and economic development.

We should not be afraid of credit, since the debt speaks well of us, because we are subject to credit and with that we acquire trust and credibility about financial behavior. Two aspects in which one must be careful, is to have a definite purpose prior to receiving the loan, and to request the amount of money that is within reach of paying.

According to the National Survey of Financial Inclusion, Mexicans request credits for personal matters, education or health issues, as well as home, emergencies, investment and to pay debts.

Here some interesting points:

 

1. Buy, remodel or expand a house

house renovation

This point also includes the purchase of land, vehicles, jewelry, among others. In the house you will always need maintenance, change of decoration, or expand it for family comfort. Or better, buy a new one. These are why 26.8% of Mexicans apply for a loan.

 

2. Meal, personal or service payment expenses

Meal, personal or service payment expenses

The second reason why Mexicans apply for a loan is directly related to personal investments, that is, to purchase a product for consumption. To this end, 21.6% of Mexicans ask for a loan.

 

3. Start, expand or operate a business

3. Start, expand or operate a business

The third option is to invest in a business. 19.5% of Mexicans requested money to expand their business, buy merchandise or do some hiring.

 

4. Address emergencies or unforeseen events

emergencies or unforeseen events

12% of Mexicans apply for loans to solve some emergency or unforeseen situation.

 

5. Pay a debt

5. Pay a debt

Another reason that stands out is to ask for a loan to settle economic slopes that require immediate attention or that overwhelm them with very high calls or interests. In this case there are 11.9% of Mexicans.

 

6. Education or health expenses

6. Education or health expenses

For 11.4% of Mexicans it has been necessary to request a loan to cover issues related to an education and health situation. school supplies, purchase of uniforms, payment of tuition, medical studies, a sudden illness, or purchase of medicines, are among these issues.

 

7. Pay for holidays or parties

7. Pay for holidays or parties

5.4% of Mexicans have ever applied for a loan to spend on fun. Celebrating something or paying for a good vacation is a good reason for a loan.

In Dave Copper you will always find the solution to any problem you have for which you should request a loan, our experts will always be willing to guide you towards your best option.