Loan investment destination
What are special-purpose loans?
The purpose loans, or loans intended, are regulated as “financing order” in Article 124, paragraph 3, of Legislative Decree no. 385, 1/9/1993 “Consolidated Law on Banking.”
The purpose loans are consumer credit agreements which have as their object the purchase of certain goods or services.
Obligations of the Loan Agreement Finalized
The loan agreement must always aim to define in detail, on pain of nullity, the description of goods or services purchased, the purchase price in cash, the price fixed by the contract and the amount of the deposit, and the conditions for the transfer of property right (in those cases where the transfer of ownership does not happen immediately).
Beware of the loan agreement finalized
After the conclusion of the financing contract finalized the fee is not credited to the customer, but the company selling the product or service for the purchase of which has been requested funding.
For this reason we must very carefully read the loan agreement finalized and all its clauses. Sometimes it banks or financial institutions are signing on to the consumer part of the clauses that exempt from liability in the event that, once perceived the sum, the seller fails to deliver the product or service does not deliver. Been so attentive to these clauses because, once signed, you cannot claim against the bank or financial institution to claim damages.
Examples of special-purpose loans
Types of loan are finalized the purchase of a washing machine with installment payments or purchase of a LCD television with revolving credit card payment.