Bad Credit Car Loans -helps You Finance A Car

by Monikakim - Date: 2010-10-13 - Word Count: 314 Share This!

Are you in need of a new car? Here bad credit car loans can offer you finance as you need. Perhaps you have taken a loan in the past for your car. Well but still you need not worry .Here, bad credit car loans can help you to fulfill your dream of buying a car.

After applying for car finance you can go and get your new car. Since, you get the cash in your account .In this there are different lenders who deal in this finances .So you can get car for your self.

Even if you have bad credit history, CCJ's credit defaults, arrears, and so on, still you can apply for this finance. These fiancés can be secure as well as unsecured in nature .In this the borrower will be offered an amount ranging from £2000-£500000 and the time period offered will be for 1 to 5 years.

In secured credit

The borrower will have to place his property or asset as collateral. Hence, he is charged a lower rate of interest. If the borrower does not repay the amount on time then, his property will be at a risk.

In unsecured credit

There is no risk for the borrower since he does not have to place any property or asset as collateral. The borrower has to pay high rate of interest as no property is been placed as security.

The eligibility criteria for availing this finance:

•You should be a citizen of UK.
•You should be above 18 years of age.
•You should have an active bank account.
•You should be well employed with a monthly income.
•You should earn income of least £1000.
Since the online procedure is easy and convenient .All the borrower has to do is fill the application form with the correct details in it .You need not worry within 24 hours the funds will be transferred to your account .This process is not time consuming .

Related Tags: unsecured bad credit loans, instant unsecured loans

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