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Simple Guide With Regards To Car Loans Having A Low Credit Score
These days there are plenty of people that are in a situation that they need to buy a new car and on the other hand they are faced with bad credit history that prevents them from getting a car loan. However, there is an alternative for bad credit car finance services is with some finance companies that dont mind the bad credit ratings. These services are the best and not the only alternative when it comes to car finance for bad credit.
Most of these specialized services can be found online. Just Google words such as “Car finance with bad credit UK” or “Car finance with bad credit UK” and you will be able to find the best ones. Once you find them you can start visiting their web sites and see what terms they can offer to you. In addition to that you can get a free quote from most of them. However, you need to be aware that here we are talking about services that are on disposal only for UK citizens and only on the UK territory.
The fact that these services dont take in consideration your previous credit rating is the main differences between these finance services and the classic money lending services. The only thing that they consider is your current financial situation and how you are dealing with your debts at present time. There isnt a car that you can`t buy if you use this type of service. Every brand of cars that can be found in the UK is at your disposal. Besides from new cars you can go for used car as well. That is as long as the car is not older than four years. However, some bad credit car finance services dont offer loans for used autos.
Going with such service means that you can have everything wrapped up within hours from your submitting your application. Once you submit the application the process is started and it can easily be you to have your new car in your garage the same day or even the same afternoon. Once you submit the application, someone will review it, than you will receive a call from a consultant that will tell you the details and once agreed the car can be delivered to you or you can take it from the dealership by yourself. As soon as you understand everything and agree with the agreement you can go and get your car. They are very satisfied with the terms that are offered to them and how the business is conducted.
What is a payday loan
A payday loan has many names. Some call it a cash advance loan. Some call it a check advance loan. Another name is a post-dated check loan. Still others call it a deferred-deposit check loan. The Federal Trade Commission in the U.S. calls it “costly cash”. No matter what you call it, its the same thing: a small (usually $50-$500) short-term loan with high interest. A payday loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday.
Have you ever been burdened with an unexpected expense, like a big car repair bill? How have you handled it? Do you use your credit card and pay for it, including interest, over a period of time? But perhaps you dont have a credit card. Or maybe youre one of the millions of people who carry too much debt, and have already “maxed out” your credit card. Do you have friends to borrow from? Most of us dont like to do that and most friends dont like that, either. So what do you do? Well, you could get a payday loan.
What are the benefits of payday loans? Lets see:
You wont have to go through the hassle of a credit check.
You can apply in person, on the phone or on the Internet.
The process takes less than 20 minutes.
The loan proceeds are automatically deposited into your bank account within 24 hours.
Its affordable, at least immediately you dont have any up-front costs.
Its discreet nobody else is involved.
Its secure your financial information isnt shared with others.
Ok, that makes sense. Those are enough reasons to get rid of the stress of being short of cash. Its a “quick fix”. You can cover the shortage, and get on with your life. And youll be able to pay it back next payday, right? So youve solved your problem.
These companies are in business to “help” those in dire financial need. They offer these loans to people who cant find the money they need anywhere else. Lets profile one company who offers payday loans as part of their overall financial services business Money Mart.
Money Mart was created as an alternative to banks. Their hours would extend beyond banking hours, and theyd situate themselves in more accessible locations than banks. They could cash checks when banks were closed, and people wouldnt have to travel very far for their services. They must have been on the right track because now, they have 1,700 locations in Canada, the U.S. and the U.K.
A typical Money Mart customer is an average working person, 32 years old (82% of customers are under the age of 45) and employed, with an annual income around the national average. These customers go to Money Mart because of their fast service, their convenient locations, and their extended operating hours. The founders of Money Mart were right their original ideas still hold true today.
Since adding payday cash advances to their financial services, theyve carved themselves a very nice niche in the industry. But theyre definitely not the only choice. You can now find at least one, and usually several, payday loan centers in every community