Category Archives: Home Mortgage
Loan Car Title For Cash
One can easily avail loan car titles for getting quick cash. Car loan companies provide car title loans using your cars title as collateral. These loans offer you with a big advantage allowing you to get the car for drive even during the car title loan period. People who need quick capital and who wish to avoid the hassles of dealing with a bank can go for car title loans.
To be eligible for this loan, primarily the applicant needs to have a clear title to his car. This makes any existing loan on your car needs to be paid off before you can avail this loan. In general, the duration of a car title loan is 30 days. One can either pay off or extend it at the end of the loan term. For extending the loan, the existing interest has to be paid. The loans can also be paid off at any point of the loan term.
Car loan companies go easy on their customers credit histories, since these loans are secured by the value of the car. Most companies do not make credit checks. Many other companies advance cash to the car owners even with a bad credit history. The car title loan process is really simple and hassle-free. Once you make a contact with a loan company, a representative of the company will assist you in getting the money you need. Amounts land by the loan companies are determined by the wholesale value of the vehicle.
A few factors like the year of the car, its make, model, mileage and condition are taken into consideration. After a comprehensive inspection of the vehicle, the company determines its value and the amount you can borrow. Loan companies offer flexible loan programs and you can choose the program that would best suit your needs. Once the car owner repays the loan, the company returns the title to the car.
UK Payday Loans
UK residents now have the option of acquiring payday loans. This new means of borrowing cash has been introduced by regulators to help people obtain instant cash at times of emergencies to pay for such items as automobile breakdowns or unexpected home repairs. People who live paycheck to paycheck often do not have the resources for such emergencies and the loss of transportation or need to miss work may result in lost wages or even the loss of jobs. A solution for this entire problem is sometimes a payday loan, which will help people who may wish to directly approach a payday loan company rather than borrowing from a friend or relative. Some payday loans are handled at brick and mortar sites, but many loans are set up online and the money is wired to the borrowers bank account.
Eligibility requirements are not strict. Borrowers must reside in UK and be above 18 years of age. The borrower must also show evidence of current job and possession of a bank account for more than 3 months. Some payday loan companies require that the borrower have direct deposit enabled on their bank account.
Payday loans are a short-term loan solution, which must be remitted within 2 weeks, although the repayment period of the loan may be extended. The repayment amount is the total amount plus a fee, which when worked out into an APR (Annual Percentage Rate) is very high. Usually, & 8356;20 is paid for every & 8356;100 that a person borrows. Money made available for loans usually ranges from & 8356;50 to & 8356;80 but it can reach up to & 8356;500 to & 8356;800. Money given as loan depends on the borrowers income. The lenders usually requires that the monthly income of the borrower be at least & 8356;750 to & 8356;1, 000.
Before looking for a loan, borrowers should have the necessary information ready, such as copies of several pay cheques, employer information, account number, bank statement and identification. This preparation ensures that the borrowing process takes place in a smooth manner.
There are many advantages to these short-term loans. They are easy to obtain and the time taken for getting the cash after approval is less than 1 day. This fast turnaround means that quick cash can be used for all sorts of unexpected needs that may occur in anyones life. Credit checks are not necessary and verifications are much less complicated compared to long-term loans. One outstanding feature of payday loans is that they are available to people who have had a poor credit history or even no credit history at all, whereas the same person will be rejected for long term loans from more conventional lenders.
There are also disadvantages to payday loans. The interest rate for these short-term loans are very steep. The interest rate is tremendously high, often over 1000% per year. Like a conventional loan, if the borrower is not able to pay back the loan in time, a penalty is applied and then collection agencies may eventually get involved. Another drawback of payday loans is that only one loan is available at a time. Therefore, these payday loans are often used when those with poor credit history are unable to take other short-term loans such as cash advances on credit cards. Payday loans are best suited for borrowers requiring only a small sum for a short period of time.