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
2007/11/04
Car Loans Poor Credit History: Materializing Your Dream Car
2007/08/03
Bad credit car loans: buying a car is easy even with bad credit
by Julia Russell
Do you need a new car for your son who has joined college this session? If you have bad credit history and are refraining because of this, you will be pleased to learn about a way out of this problem. Bad credit car loans can be borrowed to purchase a car on suitable terms and conditions.
Bad credit car loans can be borrowed by people who want to purchase a car but are suffering from bad credit history. They are able to pay for the car cost with the help of bad credit car loans and can repay the loan in monthly installments. The car that the borrower wants to buy can be a new car or a used car. He can use it for personal or commercial purpose.
The borrower can borrow the bad credit car loans as secured or unsecured loans as per his suitability. If he can pledge collateral, he can get a low rate for the loan. Otherwise the unsecured loan option can always be availed by the borrower. The rate is slightly higher but still the collateral-free nature makes it quite sought after. The term of repayment for bad credit car loans is 5-7 years.
Before borrowing the bad credit car loans, the borrower should find out the exact cost of the car, especially if it is a used car. Only after the research should the borrower borrow the exact amount required accordingly. The dealer of the car should be approached only after the loan has been approved. This will prevent the dealer from convincing the borrower into some other deal.
Online research and application helps the borrower in getting a low rate deal for the bad credit car loans. Usually bad credit borrowers get a high rate of interest but by comparison of quotes, lower rates can be acquired as the lenders lower rates due to competition.
Bad credit car loans enable the borrower to make a new beginning and borrow money to buy a car. This way he can easily fulfill his needs.
About the Author
Julia Russell works as an executive in financial department for Secured Car Finance. She has a lot of experience in finance field. To find bad credit car loans, secured car finance, used car finance, new car finance, personal car finance, online car finance, car loans, car loans UK visit http://www.securedcarfinance.co.uk/
source:www.goarticles.com
