Car Loans Poor Credit History: Materializing Your Dream Car

Christian Phelps

Are you tired of traveling in crowded and slow buses? If this is so then purchasing a car seems to be good option for you. In today’s world, time is synonymous to money. You can save lots of time by purchasing car. Car loans poor credit history aim at providing financial assistance to people suffering from poor credit history.

FICO credit score ranges from 300- 850 points. Anyone having a credit score of less than 600 points is considered as a bad creditor. If your credit score is less than 600 points then you are eligible to avail car loans poor credit history.

Car loans poor credit history are available in both the traditional forms namely, secured car loans poor credit history and unsecured car loans poor credit history. To avail secured car loans poor credit history you need to place one of your properties as collateral against the loan amount. This helps in reducing the rate of interest of loan and also getting flexible repayment options. No such collateral is required in order to avail an unsecured car loans poor credit history but the interest rate is slightly higher compared to secured car loans poor credit history. Lenders charge higher interest rate to minimize the risk factor. The loan amount that can be availed with car loans poor credit history ranges from £1000 -£25000 with repayment duration of 1- 10 years.

Car loans poor credit history can be availed by both tenants and homeowners. You can improve upon your credit score by paying the loan installments regularly and on due time.

Either you can visit various banks, financial, institutions and lending firms personally or you can apply for car loans poor credit history through online method also. To apply for car loans via internet you just need to fill up an online application form mentioning details like amount of loan you want, repayment duration, your contact details etc. You can also use Internet to search for lenders with reasonable interest rate. After getting the details of lenders you can compare between the interest rates offered by them and select the one that suits you the best. With car loans poor credit histories you can make you dream of owning a car come true.



Christian Phelps is a Masters in Accounting and Financial Management from Lancaster University Management School . He has been working with loan for self employed since his academics got over. To find bad credit car loans, used car financing, car loans online, car loan for people with bad credit visit http://www.badcreditcarloansuk.co.uk

Source: http://www.articlealley.com/article_235869_19.html