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TIPS FOR NEGOTIATING WITH A BANKING ENTITY

The acquisition of financial products is an operation that, in theory, should be no different from the acquisition of any other product whatsoever. The credit entities are no more than merchants whose product is money that they have to obtain cheaply and sell expensively in order to keep their business buoyant. Despite this simple fact, users do not have this perception, and on the contrary, there is a reverential fear shown towards the credit entities that determines our behaviour when the time comes to negotiate with a bank

 

 
Comisión EuropeaEscuela Europea de ConsumidoresGobierno de CantabriaMAG (Estudios de Consumo) S.L.IFAVConsomation et Logement Cadre de VieAssociation d'avocats

 

We have to look in various banks, negotiate with them the conditions without accepting as a principle that what they are offering can not be modified, and that, in the end, we should decide on the best offer.

  

It is curious to see how the sensation the consumer experiences when buying goods varies when money is the object of the purchase. In the first case, when we buy, for example, an article of clothing, our feeling is that of satisfaction. So much is this so, that there are persons who suffer from an uncontrollable need to buy derived from the satisfaction they experience at the moment of buying

On the other hand, when we buy money from a Bank, our feeling is one of gratitude: "What great people they are at that bank for having granted me the loan!" we say without thinking they have not done us a favour at all, that the Bank is simply going about its business charging us interest for the money and that without clients like us the Bank would disappear. Up to now, we know of nobody who has the compulsive need to ask for loans simply for the mere pleasure derived from asking for them

We should approach the Bank in exactly the same way as we go to any other commercial establishment. We have to look in various banks, negotiate with them the conditions without accepting as a principle that what they are offering can not be modified, and that, in the end, we should decide on the best offer. It is certain that if we follow these tips then we will obtain better conditions, or, what amounts to the same thing, important savings for us