Tag Archives: pay
Online Car Loan- get set to drive your own car
Finance a car to make your life easier
Are you really willing to purchase your own car? Adequacy of funds forces you to compromise with your dreams? Poor credit status cant make your loan application get approved? Then, considering bad credit Car loans UK can be the reliable and suitable way to gain financial assistance for purchasing your dream car. This financial service is easily available in the market.
Car loans UK are offered to you with very favorable terms, so that you can purchase your dream car without any hindrance. The amount offered under these loans is usually 80-100% of the total amount required. Besides, it also depends on how much of the money you can afford to pay upfront as down payment. The more you can pay, the less you will have pay as monthly installments.
You can get eligible with online car loans UK even if you are having bad credits. These loans are available to all despite being a bad credit borrower. It does not matter to the lender if you are suffering from records such as defaults, arrears, CCJs or bankruptcies, you can apply for this loan without any stress and hassle.
Online application can be the best way to get applied for cheap car loans. It can be quite simple and fast that just require you to fill in an online application form with very few formalities. Within short span of time, you can collect number of loan quotes from different lenders online. Researching and comparing the loan quotes is advised before taking any decision. It enables you to find the most competitive deals of all.
Online car loans UK are offered for a small period of time. Since these loans are made to tackle urgent short term monetary crisis, thus the interest rate can be slightly higher. In that case, comparing various loan quotes of different borrowers boost the chances of arranging these loans on affordable price.
The repayment term usually lasts for a period of 5- 7 years. But prior to the availing of the loans, you should conduct a research of your own by choosing the car you intend to buy, its market price and the prevailing interest rates. You should go for dealers who offer added benefits of free upholstery, music system, free insurance and so forth.
Loan 2 Loan UK is a great option in case of Car Loan, However, a great advancement has come into effect in the financial market and the fraternities have turned up with several lucrative offers for the Car Loan.
Should I be taking out a loan?
A loan, if done under the right circumstances and for the right reasons, can be a good thing.
Heres why:
If you take out a loan and you are diligent when it comes to making your monthly repayments, you will establish whats known as a good credit history. Your credit history is established based on the number of credit accounts you have. An account could include a clothing account at a retail outlet or a credit card from a bank.
So the answer to the question should I be taking out a loan is simple:
You should only be lending money in situations where you really need it and not to buy things that you want.
This is where the line definitely becomes blurred for a lot of people. Many people get stuck in a vicious circle of debt because they start using their credit cards for luxury items and ultimately overspend. To make matters worse, the more you spend on your credit card, the higher your credit limit goes, giving you leeway to spend even more.
A credit card can be a valuable asset if you use it in the right situation. Lets say you earn R5000 a month. R1500 of that goes toward groceries and toiletries. R2000 goes toward rent, and youve got R1500 left to save or do whatever you wish. During one particular month your car breaks down, you dont have insurance and the repairs to the vehicle are going to cost R3000.
You only have R1500 to spare- what now? Youve got your credit card right? So all you need to do is use your R1500 spending money and the R1500 you would have spent on groceries to pay for the repairs to your car. Then you use the credit card to pay for your groceries. This is an effective compromise because you will only be putting R1500 through on your credit card instead of the full R3000, so youll end up paying back less.
Why would I ever need a good credit history?
Well besides having a credit card to bail you out of situations like the one described above, having a good credit history comes in handy when you make one of the biggest purchasing decisions of your life -buying a house. Houses are expensive, which means that youll have to lend from the bank. In the last couple of years lending criteria have become stringent, making it much harder for the average person to take out a loan.
Banks take a number of factors into consideration when assessing loan applications, including monthly income and credit history. If the bank can see that youve made an effort to pay your account on time each month theres a much greater chance that theyll approve your loan.