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Personal Loans

Personal Loans, Tips On How To Get The Best Interest Rates

Personal Loans
Personal Loans information.

Personal Loans, Tips On How To Get The Best Interest Rates

By Mercy Maranga
With many financial options available, it can be difficult to get a loan that is tailor made for your needs. People need money for different reasons and that is why a personal loan will work best for you and everyone else. They can finance your personal needs no matter how big or small. When you decide to go for this type of funding, it is essential that you do some homework and look for the lenders that are likely to offer you the best deal. This way, you will be able to make an informed decision.(continued below)

Personal Loans, Tips On How To Get The Best Interest Rates

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You have to choose between a secured and an unsecured loan. Secured personal loans require the borrower to put up security in the form of collateral. You can use your home, car or a savings account as collateral. It enables you to borrow a larger amount at a lower interest rate since the risk is lower for the lender. You will also be in a position to make use of the equity stored in your property without selling it.

Unsecured personal loans on the other hand do not require you to put up security against them. If you are a tenant and have no property, then this is an option that may work well for you. The interest rates for this category are higher since the risk is higher for the lender. Homeowners are the ones who benefit greatly from both options. This is because if you do not want to take the risk of getting your home repossessed you can go for the unsecured option.

Your credit score plays a vital role in determining your loan package. It is important that you know your credit score so that you are in a position to improve it if there is a need to before you approach potential lenders. Ensure that you use your personal loan wisely and repay it promptly.

About The Author
Mercy Maranga writes content on Finance and Finance Management. Visit her site here for more information on Loans and how to effectively manage them.Cash Loans

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Personal Loans

Car Title Loans For When You Need Money

Personal Loans
Personal Loans information.

Car Title Loans For When You Need Money

If you need money and you need it quickly, one way to have that needed cash in about fifteen minutes with no credit check is to apply for car title loans. These loans are a quick way to get cash whenever you need it to meet any emergency.

To qualify for the car title loan, your vehicle must have a clear title. That means that you have paid for your vehicle and there are no other loans owed on it. Take that clear title to your loan company then fill out the forms and paper work. Then in just a few minutes, you can walk out the door with cash in your pocket so that you are able to take care of that emergency.(continued below)

Car Title Loans For When You Need Money

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While payday loans have to be paid back on your next payday, car title loans are paid back over time. That means that you are not going to be short next month because you took a payday loan this month. Instead, you will have a car payment again.

The value of your vehicle will determine the amount of money you will be able to borrow, but some companies will lend you up to ten grand with no credit check. They also let you keep your car. You will still have the transportation you need to get back and forth to work to pay that loan.

When you are ready for the loan, just bring the clear car title, your identification card or drivers license, proof of income and the vehicle for inspection. The whole process takes about fifteen minutes and then you leave with the money.

Starting the following month, you have a car payment, just like many other people. Make the required number of payments and the loan is paid back in full.

It’s important to realize that this process will not work for bad credit auto financing, unless you have a vehicle with a clear title. And is often the case with bad credit auto financing there is no vehicle ownership involved.

A car title loans may be the answer to your financial difficulties.

About The Author
You can find much when it comes to car resources by visiting the website. For example, cheap car insurance for young people is actually a possibility that is covered in some length at the site.

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Personal Loans

Personal Loans – Too Good To Be True

Personal Loans
Personal Loans information.

Personal Loans – Too Good To Be True

A small car outside your cottage, the best education for your child, a memorable wedding for your sister, the best treatment in town for your ailing family member, jewellery for your wife or a big refrigerator and a microwave and an air-conditioner…not to forget mounting credit card dues…(continued below)

Personal Loans – Too Good To Be True

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The solution to these needs, wants and problems lies in finance. Name it and personal loans offer a quick, reasonably easy solution!

Unlike other loans, this loan is a hassle free loan. No clarification, guarantor, security required for this loan! Isn’t it too good to be true? The loan can be used for renovating property, marriage expenses, medical expenses, holidays, purchasing consumer durables, higher education etc.

But why a personal loan when there are specialized loan products to meet specific needs? They may not be always helpful.

Let us take the example of one of the most fundamental needs – good education. While an education loan covers the costs relating to your course and the cost of living, your parents may have still needed more cash! Who else would they turn to, but the good old friend-personal loan? You may find it difficult to get a study loan from banks if you plan to do a correspondence course or a part-time one. This loan will help you stick to your plans.

Fast forward. A fairly well-paying job, an educational loan to be paid off. Time to change your second-hand bike for a new car. You will surely not be an ideal candidate for car loans. The possibility of getting a car loan is low even when you settle for second-best, a used-car.

A personal loan will buy you a used car or a new one if your income can justify it. If you fall short of funds for the down payment of the car, (after getting a loan), this loan will help you seal the deal.

Friends, girlfriends, dinners, parties, gifts, designer shirts, a happening social life, all this means mounting credit card bills. Don’t fret. It will even take care of your mounting credit card dues in time of need.

Need your ‘own’ house? While the housing loan will help you get it, you may not have enough funds for the 10-15 per cent down payment that you require to buy a property? Believe it or not, the answer is a PERSONAL LOAN! You can spend on your wedding and then spend on needs such as appliances and jewellery with the help of a personal loan.

Sounds good, doesn’t it! Well, there are a few things to keep in mind, about these loans. You get this loan, primarily based on your income. If you have taken any previous loan, the repayment track record along with your employer’s profile will have a bearing on this loan eligibility. It can also be availed against proof of life insurance policy premium receipts.

There is a catch though. The interest rates on these loans are high (as high as 22-30 per cent in some cases) and the maximum tenure is 60 months or five years.

If you avail this loan for down payment or other expenses, it has an impact on your auto or home loan eligibility as it adds to the expenses.

So, to conclude, this loan is like a magic wand, to be used selectively. Treat the personal loan as a last resort in times of need.

About The Author
Original Article URL: Personal Loans – Too Good To Be True