subject: Car Credit No Credit Checks - Ride Your Dream Car! [print this page] Every body dreams of having their dream carEvery body dreams of having their dream car. But it is not possible until you are financially stable. It is not an ordinary amount. You have to pay a lot of money to get a good car. What if you have a bad credit? Well that should not stop you from availing finance as car credit no credit checks are a perfect solution. You can use this finance to purchase a car you wish to have.
This form of credit belongs to two categories- secured and unsecured.
If you avail the secured form of credit then you have to place collateral against the funds borrowed. You are offered an amount ranging form 500 to 100,000 for a period of 1- 25 years. Thus they carry a comparatively lower rate of interest as the lenders risk is backed by the credit amount. However if you fail to make payment by the due date, the lender will take charge of your security to recover the amount of the finance.
The unsecured category on the other hand does not demand collateral. You can borrow funds from 1000 to 25000 for a period of 1- 10 years. They carry a high rate of interest as there is no security to back the loan amount.
Advantages:
They do not involve any credit checks; hence borrowers with bad credit history are also eligible for these services.
If the borrower avails the secured form, he will have to pay a lower rate of interest.
The repayment term is flexible and can be extended.
Disadvantages:
The borrower will have to pay a higher rate of interest if he avails the unsecured form of this advance.
If the money is not paid back on time, there is a fee charged and the credit scores of the person are also affected.
You can also avail this credit through the online mode. All you need to do is fill an online application form giving all the necessary details. The funds are transferred to your account. It haps in saving a lot of times and also avoids documentation. You do not have to stand in long queues.
Car Credit No Credit Checks - Ride Your Dream Car!
