Tag Archives: financing
Go On Vacations With a Personal Loan
Everyone deserves vacations but sometimes paying for them is not such an easy task. Financing your vacations with credit cards may not be such a good idea and if you have not saved enough money for that special trip, it is better to find other sources of finance. This is when personal loans come in handy as they provide funding at cheaper rates.
Getting inexpensive financing is essential, after all, vacations though very important, are not a regular expense that contributes to income. Thus, you should try to save as much money as possible and saving on interests is an excellent place to start. Thus, using a personal loan instead of credit cards is a brilliant idea.
Secured Or Unsecured
Personal loans can be either secured or unsecured. Personal unsecured loans are widely available and can provide you with enough funds to finance your whole vacations. The interest rate charged for unsecured personal loans is high but lower than the one charged for financing with credit cards and thus, it is an excellent alternative.
Moreover, unsecured personal loans can be obtained in a short period of time. If you apply for an unsecured personal loan today, in just a couple of days you can have the money deposited into your account without much hassles. Furthermore, there are loans that can be awarded in a matter of mere hours, and you can have the money in your account by the following day.
Secured loans, on the other site will take some more time in order to be approved. Since there is a lot of documentation to be checked (especially those related to the property used as collateral), the approval process takes a bit longer than with unsecured loans. However, the loan terms of secured loans are generally speaking, more advantageous.
Secured loans carry lower interest rates than unsecured loans and come with higher loan amounts too. Besides, the repayment programs can be more flexible and longer so you can obtain lower monthly payments that are easier to afford. And when it comes to the requirements for approval, credit requirements are lessened due to the presence of collateral that reduces the risk for the lender.
Online Applications and Comparison
There are many online personal loan lenders that can provide you with the loans you need and have fast approval processes as their business is online based. Since there are so many of them, you do not need to close on the first deal you are offered. Each loan has different loan terms and perhaps you can benefit more with a longer repayment program than with a lower interest rate.
Thus, you should request loan quotes from different lenders and compare what they have to offer. Within a short period of time you can have notes with the different loan conditions and ponder each term to see which loan best suits your needs and budget. After you have decided which loan is the best option for you, you will be able to apply online and the lender will contact you in order to finish the deal. It is as simple as that, no further hassles.
Introducing High LTV Auto Dealer Financing Using Enterprise Value
This product is ideal for those dealers who are looking to rapidly expand their business by allowing them to obtain loans in excess of 100% of their real estate value. Unlike conventional lenders, Auto Dealers Capital is able to provide financing against a dealership’s goodwill or reputation, also referred to as the Enterprise Value, allowing borrowers to benefit from higher loan amounts which are typically unattainable with traditional financing venues.
Why is the High LTV program unique?
- Enterprise Value takes into consideration a dealership’s market penetration, profitability, franchise strength, and future performance to allow loans to be underwritten up to 150% of the real estate value.
- Ability to generate proceeds in excess of that provided by traditional lenders and/or captive finance companies, who typically will not lend above 85% LTV, even for larger dealers.
- Individually customized loans for the dealer’s specific needs work to unlock the long-term value of their investment without exposure to unreasonable risk. Usually, full personal guarantees are only required for the loan amount portion in excess of the real estate value.
What are the benefits of the program?
High LTV (Loan To Value) Auto Dealer Financing is essential for dealers looking to gain working capital to take advantage of any of the following expansion opportunities:
- Acquire other dealerships to increase market share, maximize brand awareness and increase profitability along with satisfying other future capital needs as they occur over time.
- Create Employee Stock Ownership Plan (ESOP) for tax benefit advantages and increased personal liquidity while maintaining operating control.
- Reduce financial risk by refinancing short-term debt with variable interest rates to long-term debt with fixed interest rates.
- Eliminate needing or adding partners or to gain control by buying out existing partners.
- Increase customer satisfaction by improving facilities and providing new services and technologies or even for the purchase of the underlying dealership real estate.