Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Bad Credit Car Loans - Secured & Unsecured

Written by: Vipul Jain

A car loan helps you to buy a car when you do not have sufficient funds for it. There are a number of lenders who are willing to offer you a car loan. Many borrowers have bad credit history. If you have not repaid a loan as per the loan terms, you acquire a bad credit score. A bad credit score includes arrears, default, county court judgments, bankruptcy, etc. It is a general perception that people with a bad credit history cannot obtain a fresh loan. This is not true. You can get a car loan even if you have a poor credit score.

When you apply for a bad credit car loan , you will most likely be required to offer a property as a security. This is because, since you have defaulted in the repayment, you have become a high risk borrower. From the lender's point of view, since you have defaulted once, you might default again. This is the reason why, bad credit car loans carry high rates of interest than unsecured loans. If you fail to repay a secured loan, the lender may repossess your property. This cannot happen in case of unsecured loans. But it does not give you the license to default. If you do not repay an unsecured loan, the lender can always initiate legal proceedings against you.

The security that you offer to get a car loan is usually the car that you are buying. If you fail to repay the loan, your car will be at the risk of repossession. If you believe that you are paying too much on interest, you can take out a second car loan at a lower rate of interest. A low rate second car loan will help you save your money. This also allows you to pay small monthly payments.

You can also take out a homeowner loan to buy a car. A homeowner loan is a secured loan that can be obtained by offering your house as collateral. This is the best option for borrowers who have a bad credit history. Lenders offer reasonable rates of interest on bad credit homeowner loans .

About the author:

The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Shakespeare Finance as a finance specialist.


Other Related Articles:

Taking the Time to Find the Best Loan Offers
When you're looking for a loan, it might seem easy to simply accept the first loan offer that you receive. While it's true that you might receive a good deal on a loan this way, there's an even greater chance that you'll end up missing out on...read more

What Is The Best Way To Pay Off All Of My Debts Using A Free Debt Consolidation Loan?
Between daily expenditures and monthly bills, most people get bogged down by outstanding debts with high interest rates. When this happens, they usually don't know what options they have. Most assume they are on their own unless they decide to...read more

Ten Ways Start-ups Use Venture Leases And Loans To Generate Millions
The rise of venture leasing and lending has created an opportunity for sophisticated entrepreneurs to gain a competitive advantage. Savvy entrepreneurs are using venture leases and loans to generate millions of dollars for shareholders by leveraging...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map