March 31, 2015
Short Term Car Loans
There are times, when a customer does not qualify for credit from the banks, and they keep wondering, whom to approach for the money. Well, they might still be eligible for the short term loans, which are available for less than one year. These can be used for financing their temporary requirements or to build their good car credit.
How Long are Short Term Car Loans?
These are the loans which typically have a maturity period of less than three years, and are termed as the short term loans. Given below are some of the features of such loans:
- These loans can help in providing immediate funds for purchasing a used car.
- These loans can be repaid back in monthly instalments at simple rates of interest. And, the lump sum amount can be repaid back at any time.
- The documentation for taking these loans is quite easy, and is free of hassles. There are no complicated procedures to be followed.
- There are absolutely no prepayment charges, unlike some other car loans.
- Customers can get the loans very quickly, and it gives them a lot of flexibility.
- The loans are disbursed without doing a lot of checking of the customers credit history.
- The costs involved in long term debt may be higher than the short termed loans.
- There is a potential increase in interest rates on these types of loans due to the increased risk to the car dealership and/or finance company.
These short term loans, usually found an buy here pay here dealers, provide a great deal of flexibility for buying materials and services, and these can be repaid back at a later date. And, when all the other doors are shut, these loans can become quite helpful.
Apply Now for a Short Term Car Loan.
September 27, 2014
What is a Buy Here Pay Here Car Dealership?
Purchasing a vehicle is not always easy. One of the hardest things to do when you have bad or no credit is purchase a vehicle. You may try and you may have the funds, but a lender is not going to trust you because of your credit history, or lack thereof. When you desperately need a vehicle, this can leave you stranded and without any assistance. Visiting a buy here pay here car dealership, though, can help. This will give you the chance to purchase a used car without worrying about a third party lender having any say in whether you can purchase it.
This type of dealership does not use a third party lender. Typically, the third party lender is the one that does not want to lend to people with bad or no credit. It is their money on the line, after all, and their only priority is getting a good return on their investment. To determine who will make the best investment, they only have your credit report to look at and to judge. If your credit report does not meet their standards, it is unlikely that they will give you anything. They will not view you as a solid, reliable, and profitable investment.
A buy here pay here car dealership makes the choice alone. Usually, instead of looking at credit, they will look at other factors, such as income. This type of dealership does not look at credit at all. When trying to purchase a vehicle when you have no or poor credit, this is your best option. You can increase the likelihood of acceptance and you can get a vehicle that you like. It is easy to do, too. It is exactly like your average dealership, but you pay directly to the dealership and your car loan comes directly from them. It eliminates any third party involvement in the purchase.
It is safe to use a buy here pay here car dealership. This is one of the best options on the market because of the possibilities available. If you have never heard of one of these car dealerships, but stand to gain from their services, you may want to start using one. This will give you access to the funds that you need to make a purchase as well as the vehicles that you will actually want to drive. It is entirely safe to use, as well.