Loans For Bad Credit Made Easy...
If you are searching for a loan for bad credit people, you are not alone. Fortunately, there are a number of different bad credit loan options available even in today’s economy. These products are specifically designed for people seeking loans for people with bad credit and are available in most states. Although rates on these loans products may be less than ideal, they are still a way for you to get your hands on the financing you need and deserve.
Below are just a few of the loan options you have available:
Auto Title Loans
If you own your car outright, an auto title loan is one of your best options to consider. A car title loan uses your vehicle as collateral. When you choose this option, you’ll be required to hand over the title of your car, which will be held by the bad credit lender until the loan gets paid back in full. The amount you can borrow will depend on the wholesale value of your vehicle. A major benefit of this type of financing is its quick application and funding process. Auto title loans come in a variety of terms which range from 30 days up to several years.
Learn more about auto title loans
Pawn Shop Loans
If you don’t have equity in a car, but do in some other form of property, a pawn shop loan is probably your next best bad credit loan option. Pawn shops allow you to obtain the money you need by selling something you own of value, or by using it as collateral. These type of financing option is approved regardless of your past credit history. Pawnshop financing can be obtained through a local company or an online Pawnshop. A major benefit of this loan type is its decision and processing time. Pawnshops will normally provide you an approval on the spot and can even give you cash immediately. This bad credit loan option can be obtained from $500 to $1 million depending on the value of your collateral. Interest rates start at 4% and loan terms range from 90 to 180 days.
Learn more about online pawnshop loans
Secured Credit Cards
Secured Credit Cards can be used as a great way to build your credit history and also obtain purchasing power. While you can’t really buy a car using a credit card, you can buy other things such as home improvement materials or supplies needed to start-up a new business. Secured credit card issuers will require you to put up something as collateral. This is normally cash in a savings or other account. Upon you offering this collateral, a line of credit will be granted up to the value of your collateral. Because you normally have to offer cash as collateral, this not a great option to raise additional financing. Pawnshop financing is however a great way to build your existing credit history so you can get approved for financing you need at a later date.
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The Life House Difference
If you have less than perfect, locating the personal or small business loan you need can be difficult. Above is a list of a few options you have to consider but beyond those there are others. If you have more questions or would like to have a straightforward conversation about your credit, your financing needs and about the different personal loans for bad credit that are currently available, give us a call at your convenience. Our services are always free and there is never any pressure when speaking to us.