Securing your ride with a personal car loan

Once you find your dream car it is difficult to put your mind to anything else. The roar of that engine, those creature comforts, and that new car smell are too hard to forget. But if you have no cash it can seem like a distant dream never to be realised. With a secured personal car loan your foot could be inches away from that accelerator.

Unlock the benefits of a secured car loan

Having no cash in the bank doesn’t mean no new car. With a secured personal car loan your dream is just an application away. It’s possible because your new car will be held as security against the loan. That way you will have your new car to enjoy immediately while your lender holds security. This allows you to also access competitive interest rates, a win win. At the end of the loan term, the ownership is transferred back to you to continue to enjoy. If you do have a deposit available you can also select to borrow a partial amount of the purchase price.

Your personal secured car loan provides a host of other benefits including:

  • Loans terms up to 7 years
  • Flexible repayment options to suit your lifestyle
  • Fixed interest rates to help you budget
  • Interest calculated daily and charged monthly
  • No penalties for extra repayments
  • Balloon or residual options to further decrease interest rates
  • Loans available for new or used cars and dealer or private sales welcomed.

Speedy approvals for your secured car loan

So get ready to negotiate a price with your seller. With the right personal car loan you could be in your new car next weekend. Don’t be fooled by a loan that offers low interest rates and stops there. Talk to a specialist who understands the finer print. Natloans personal car loan specialists can help you find a secured car loan that ticks all the boxes. With access to a broad range of reputable and trusted lenders, Natloans will save you time and money. Coupled with exceptional customer service and a fast approval process, one call to a Natloans finance broker will guarantee your ride.

Borrow more against your car with collateral loans

Your car can win you greater borrowing potential. Sure cars are renowned for being depreciating assets. Yet when it comes to securing finance, lenders still view your vehicle as valuable security. So collateral loans allow you to leverage  your car to obtain funding. You are simply required to put you your car as security against the loan.

Now certainly car collateral loans give you access to cash without undue hardship. In such a case lenders tend to exercise extreme leniency in borrower requirements. But what does it mean when you pledge your car as collateral again your loan? Essentially should you default on fulfilling your loan obligations, your lender can take possession of your car and sell it to recover all or part of their finance.  That is why it is crucial that you secure auto collateral loan terms that you can satisfy. Do this and you have one saviour of a financial solution to hand.

Collateral loans driven by your car

Almost everyone needs extra cash at some stage in their lives. Yet not everyone is asset-rich enough to raise funds by selling off personal property. Or even winning lender confidence through big ticket collateral like a family home. Then if you have poor credit things can get even tougher. Here is where your trusty wagon can really pay dividends. Providing necessary collateral for you to obtain a flexible personal loan fast.

Auto collateral loans are essentially secured personal loans. So you can use the finance for almost any reason you like. For this reason, auto collateral loans are most popular amongst borrowers needing emergency cash.

Lenders offering collateral loans impose minimal requirements on finance. Factors considered include your:

  • Employment history
  • Residence history
  • Total ownership of the car
  • Value of your vehicle

With an auto collateral loan driving your finances you can spread a large one-time expense over several months. Or an agreed loan term. So budgeting  becomes a whole lot easier.

Get on the road to top auto collateral loans

Whether it’s your pride and joy or essential family vehicle, your car is an important asset. So placing your wheels up for collateral can be risky. After all, if you are unable to satisfy your auto collateral loan you may find yourself carless. That means beating the feet to get anywhere. Or relying on public transport. But you still need the cash an auto collateral loan offers. So ensure you clinch the best terms to match your situation. Consulting experienced finance brokers like Natloans connects you straight to your ideal fit in auto collateral loans. Saving you time, cost and stress while safeguarding your precious wheels.

Bankruptcy in Australia

Bankruptcy has become an increasing solution for individuals who cannot pay off their debts and liabilities. According to ITSA’s statistics,  10,499 Australians filed for bankruptcy in 2008-2009 and that is only in New South Whales! In Victoria, figures were almost half the amount at 5,980 individuals.

If you are bankrupt this does not mean you cannot work. In fact it’s recommended you continue working to pay off any debts that are remaining according to your plan with the creditors. Over your bankruptcy period attempt to pay all your commitments in a timely manner! You don’t want to add any defaults to your credit file, this will make it much harder to qualify for a loan when you are discharged. Bankruptcy usually lasts for 3 years unless it has been extended to 5 or 8 years. Although you will eventually get discharged, it will remain on your credit file for a few years after until it eventually drops off.

Many individuals want to get financed whilst they are bankrupt, this is not possible. Once you are discharged for a minimum of 12 months a financier will be able to help you, in the meantime do not apply anywhere. The more hits you have on your file the less chance you will have later on. It is recommended you have no more than four finance enquiries per year, financiers do not like a busy credit file.

When you are discharged and are looking at financing another car or boat there are many brokers that will be willing to assist you. These days there are financiers that are specifically in the market to provide second chance lending. Although they cater to assist individuals who have had a bit of a bumpy ride in the past, expect to received an interest rate that is slightly higher.

If you would like more information on how to go about getting finance after you are discharged contact Natloans on 1300 955 791 or have a browse on www.natloans.com.au

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