Car is every persons dream and now it has been a necessity in life because travel in public transport is been quiet hectic but every one doesn’t have cash upfront to buy a car because it is very expensive but car loan UK provides sufficient finance with easy installment so buying a car is within your reach.
Car loan is of two form secured and unsecured if you are willing to place security against loan than you can place car as security and if you are not willing to take risk than unsecured form is also there the rates of unsecured loan is higher than secured form as the lender are at risk in unsecured form because if the borrower don’t pay the installment the lender don’t have anything to repose form the borrower.
The loan amount you gain sufficient fund up to 80-90% of the total valuation of the car and the rest has to be paid as down payment the tenure for this loan is 5 – 7 year so that borrower can repay the amount with easy installment but timely repayment is necessary as penalty charges are charge if there delay in payment.
Bad credit borrower like arrears, defaults, CCJ, IVA, bankruptcy, late payments face a lot of difficult to get a loan and sometime even disapproval but car loan is open for all borrower as credit check is not involved in the process so credit people can get a loan and a chance to improve they credit score in the market as timely payment can improve their credit score.
Car loan can be applied online as there are many lenders providing online service in the market and you can easy do a research of the market and than go for loan choosing a better deal for yourself just fill an online application form with few detail and get loan approved within 24hrs and get deposit in the account.
Natasha Wilson is a financial expert offering loan advise for quite some time she hold financial degree and has written many articles on car loan company, she provides counseling and expert knowledge on Car loan, Used Car loan UK, cheap car loans.
Article By: Natasha Wilson