subject: Loans Against Car- Keep Your Car With You [print this page] Money crisis can bother anyone at any time of the month. But the date of getting the paycheck is fixed and the amount you will get is also the same. That makes us helpless but we can take help by taking a loan. There are two types of loans one is secured and the other one is unsecured. These loans come with different rates. Secured loans are relatively cheaper than the unsecured loans. In these loans you have to provide something as collateral. But the loans against car are the unsecured types of loans even with the security.
If you are looking for some cash and you want it to be a little light on your pocket as well then you may choose to go for a loan without any collateral. Loans against car are available to help you meet all your urgent needs. These loans are issued against the car that means that the car acts as collateral. The best thing is that the loan is issued against the car but you can still keep the car with you. Actually the lender keeps the logbook of the car. This is the most important document of the car.
You can get the loan according to the value of your car. These loans can range up to 120% of the car value. The repayment plan of the loan is also very flexible the tenure and the installment amount can be fixed according to the borrowers capabilities to pay the money back. If you want to pay the money in short term than you will have to pay the installments of a larger amount. So you should always decide the installment on the bases of your next paychecks. The installment should not be a burden on your next paychecks.
These loans are also available to the people running on bad credits. These scores and other such history is not relevant for the lender. You just need a car in your name and the loan will be issued to you. Lender will keep the log book of the car till you pay the money back.
by: Alen Maker
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