Bad Credit Car Loans U.k: Easy Car Financing
An introduction:
If you are suffering from poor credit score and need some extra money to buy a new car then
Bad credit car loans UK is the optimal solution available in the loan market. These loans are provided to the people suffering from various bad credit issues such as CCJ’s, IVA, bankruptcy, arrears, due bills etc. You can use the loan amount to buy a new car or a used car and lender has no concern over it. Also the car may be for personal use or for commercial use; it’s all your concern.Various other facts and figures:
Before going for bad credit car loans U.K. you must check your credit score to see if you are really a bad creditor or not. You can easily get your credit score sheet from an authorized financial firm. If your credit rating is below 450 then only you are a bad creditor and can go for these loans.
In order to avail these loans you have to satisfy some prerequisites which are given below:
a) You must be an U.K. citizen.
b) You must be above 18 years of age.
c) You must have a full time paid job.d) You must have a saving account in a bank.
The loan amount gets approved soon if you satisfy all these prerequisites. You need to make a down payment in some cases which is about 20% of the total cost of the car. These loans are available as secured and unsecured, secured being cheaper and riskier than unsecured due to collateral involved in it. As bas credit car loans U.K. are offered to bad creditors, the interest rate is higher than conventional loans. So you must repay the debt timely to avoid any increment in interest rate. Also you can loose your car if you delay in repayment much.
By: Christian Phelps
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