Loan for the barbecue of your dreams: How to finance quality smartly
15.07.2025
9
Minutes
Katrin Straub
Managing Director at nextsure
Summer is approaching, bringing with it the aroma of freshly grilled food. Yet high-quality barbecues can quickly cost several thousand euros. Find out how you can make your wishes a reality with a tailored loan for purchasing a high-quality barbecue, without breaking your budget.
The topic in brief and concise terms
A loan for a high-quality grill enables an immediate purchase, with the effective annual interest rate being the key comparison factor.
Good creditworthiness (SCHUFA score > 97%) is the key to low interest rates and can reduce borrowing costs by 30 per cent or more.
Look out for flexible contract details such as free special repayments, as these enable faster, cost-saving repayment.
The Investment in Quality: What Makes a Premium Grill Stand Out
A high-quality grill is more than just a cooking appliance; it is a purchase for at least ten years. Models in the €1,000 to €2,000 price range already offer professional features for discerning barbecue enthusiasts. Here you will find features such as powerful stainless-steel burners, large cooking surfaces for more than six people and heavy-duty cast-iron grates. The durability of such appliances justifies the higher purchase costs, often exceeding €1,500. Unlike cheaper models under €500, they offer significantly better heat distribution and retention. This quality comes at a price, which is why a dedicated equipment loan is a sensible option. Investing in such a device needs to be carefully planned, which makes choosing the right financing all the more important.
Using the right loan as a strategic tool
An instalment loan is often the best solution for making a larger purchase without having to dip into savings. With fixed monthly instalments and a defined term of twelve to 120 months, it offers maximum planning certainty. The interest rates for such consumer loans are often significantly lower than those of an overdraft, which averages well above eleven per cent. A decisive advantage is the freedom to choose any retailer, unlike with retailer financing. You can use the money from the loan to pay in cash and thereby potentially negotiate discounts of up to ten per cent. A loan calculator helps you work out the monthly burden precisely. The right balance between term and instalment is the key to sustainable financing.
Reduce interest costs by up to 30 per cent through creditworthiness optimisation
Your creditworthiness, expressed through the SCHUFA score, is the most important factor for interest conditions. A score above 97.5 per cent signals to the bank a very low risk of default and leads to the best offers. Banks are legally obliged to check your creditworthiness before granting a loan. Even small deviations in the score can increase the effective annual interest rate by several percentage points. You can actively improve your score even before applying for a loan. One free self-disclosure per year helps identify and have incorrect entries corrected. Optimising your creditworthiness is a crucial step before obtaining specific offers.
How to improve your creditworthiness before applying
Good preparation can save you hundreds of euros in interest costs. Here are four steps to optimise your creditworthiness:
Consolidate existing loans: Several small loans can have a negative impact on your creditworthiness. Refinancing to a single loan improves clarity and often also the score.
Cancel unnecessary current accounts and credit cards: Too many accounts and cards can be seen as a sign of financial instability. Reduce these to the necessary minimum of one to two.
Clear your overdraft: A frequently used or overdrawn overdraft facility has a negative effect. If possible, bring the account back into credit before the loan enquiry.
Always pay bills on time: Missed payments lead to negative entries and significantly worsen the score. Make sure you have a flawless payment history for at least three years.
A clean household budget without overdraft use is the best basis. With an optimised score, you can confidently start comparing loans.
Comparing offers properly: the effective interest rate is what matters
Banks often advertise a low nominal interest rate, but this only states the pure interest costs for the loan. For a true comparison, the annual percentage rate (APR) is the only decisive factor, as it includes almost all costs incurred, such as processing fees. Providing the APR is legally required for credit institutions in order to create transparency. Make sure that, when comparing offers, you always assume the same loan amount and term. A loan of €5,000 with a term of 48 months can only be compared with an identical offer. Use an independent loan comparison to find the best terms. But even then, caution is advised, because the interest rates shown are often only teaser rates.
Contract details that can save you real money
A good loan agreement offers more than just a low interest rate. Flexible repayment options are crucial for being able to respond to unforeseen events. The option of making extra repayments free of charge is an important advantage offered by many modern instalment loans. This allows you to repay the loan more quickly and save on interest costs. Some banks even allow the entire loan to be repaid early at no charge. By law, a bank may charge an early repayment fee of no more than one per cent of the remaining debt in the event of early repayment. If the remaining term is less than twelve months, this figure falls to 0.5 per cent. Also check whether payment holidays are possible if finances ever get tight. A long loan term lowers the instalment, but increases the overall costs. Flexible options give you the freedom to shorten the term later.
The structured way to finance your dream grill
A systematic approach to taking out a loan prevents costly mistakes and speeds up the process. With a clear strategy, you can reach payout in just six steps:
Set your budget and loan amount: Determine the exact price of the grill including accessories and set the maximum monthly instalment you can afford.
Check and improve your credit rating: Request a free SCHUFA report and correct any inaccurate entries.
Submit enquiries for terms: Obtain several quotes. Important: Always submit an “enquiry for loan terms”, as this is SCHUFA-neutral and does not affect your score.
Compare offers in detail: Compare only the effective annual interest rate and look out for flexible contract terms such as early repayments.
Apply and verify your identity: Once you have decided on an offer, submit the final application. Identity verification is completed conveniently online in just a few minutes using the video identification procedure.
Payout and purchase: After a successful check, the loan amount will be transferred to your account within a few days. You can now fulfil your wish with flexible use.
This structured approach ensures that you receive the best possible terms.
Banks often offer payment protection insurance (RSV) alongside a loan, which is intended to step in in the event of unemployment, incapacity for work or death. However, these policies can significantly increase the cost of a loan, often by ten to twenty per cent. For smaller loan amounts, such as for a high-quality barbecue, RSV is usually not economical. The benefits are often tied to strict conditions and there are long waiting periods of up to six months. Our expert tip: Check whether existing insurance policies such as income protection insurance already cover the risk. Such cover is more comprehensive and not tied to a single loan. A loan for other garden projects should also be planned without expensive additional insurance. Weigh up the costs and the actual benefit carefully before taking out such a policy.
Request an individual risk analysis now: Have your insurance situation reviewed free of charge and receive specific optimisation suggestions.
More useful links
The Bundesbank provides statistics on interest rates for instalment loans to private households in Germany.
The Bundesbank provides further data on banks' deposit and lending rates in Germany.
Statista provides a statistic on loans to private individuals in Germany.
The Federal Statistical Office provides tables and data on private consumption in Germany.
The Federal Agency for Civic Education provides information and facts on consumer spending in Germany.
The German Environment Agency provides structural data on private households regarding income, consumption, energy use and emissions.
Statista shows a statistic on the purpose of private households' loans.
The Bundesbank provides the results of the wealth survey.
The Stiftung Warentest offers a detailed test report on gas grills.
Wikipedia offers a comprehensive explanation of the consumer credit agreement.
FAQ
What documents do I need for a loan application?
For a loan application, you usually need a valid identity card or passport, the last two to three payslips and current bank statements. For non-EU citizens, a valid residence permit is also required.
What is the difference between a loan enquiry and a terms enquiry?
A “request for loan terms” is SCHUFA-neutral and is used only to compare offers. A “loan application” is made when you formally apply for a loan. Too many loan applications in a short period can worsen your SCHUFA score; requests for terms do not do this.
How quickly is a loan for a barbecue paid out?
After you have submitted the application online and verified your identity via video identification, the final review is usually completed within one day. The disbursement of the loan amount to your current account then usually takes only one to three working days.
Can I also take out a loan without a specific purpose?
Yes, an instalment loan is usually granted without a fixed purpose. You can use the loan amount freely to purchase the barbecue, accessories or other items you want. This gives you maximum flexibility.
Isn't dealer financing (0% financing) cheaper?
Zero per cent financing sounds tempting, but it is not always the best choice. It often removes the opportunity to negotiate a cash discount, which can be as much as ten per cent. An instalment loan with a low interest rate can work out cheaper overall and offers more flexibility.
What happens if I can’t pay a loan instalment?
If you cannot make a repayment, contact your bank immediately. Many loan agreements provide for the option of a repayment break of one to three months. Do not ignore the situation, as reminders and a possible negative SCHUFA entry would be the result.
