subject: Car Loan: Best option to get fund for buying a car [print this page] Car Loan: Best option to get fund for buying a car
If you live in a busy city, you have probably experienced the annoyance of missing your bus or train. Cars save you a great deal of time and effort. It is just no more a status symbol rather it provide a great convenience in commuting. But the real problem is that of finance, as these vehicles are a bit expensive but you can seek the assistance of car loan specialist UK, as you get to access the funds without having to face too many hassles.
Car loan are available in secured and unsecured form. For the secured form, you will need to provide car as security to the lenders against the loan amount. For the unsecured form no collateral is required to be pledged. Plus, you can get details regarding the terms of both used as well as new cars. If you are worried to get charged higher interest rates, you can easily make the car loans UK pocket soothing by pledging a high-value security as collateral against the loan.
You can avail 80-90% of the total amount required to procure your vehicle. The remaining amount you can to pay as down payment. The loan amount that one can avail can be 90 percent of the total car value till the repayment period of 5 to 7 years. But, avoid late payments as it causes high penalty charges on you.
To apply for the cheap car loans, one need to be above the age of 18, have an active checking account and earn monthly income. Plus, he should be a permanent citizen of UK.
Your credit history does not have much impact on the loan approval process. People with bad credit report like foreclosure, insolvency, arrears, defaults, late payments etc can apply for car loan without worrying about disapproval.
You can easily apply for this loan scheme online way. Fill the online application form with few of the personal details with very few formalities. Enjoy the quick and convenient process because there is less hassle and paperwork. Researching and comparing the loan quotes is advised before taking any decision. It enables you to find the most competitive deals of all.
