Bankruptcy is a financial situation in one's life when he or she is no more in a condition to clear any debts and has been declared so legally by court. It not only harms your social status, but creates a financial condition in your life when you are no more in situation for any development. You credit score goes down and you are considered as a bad credit holder.
What is the opportunity:
If you are in such a condition, but still want to buy a car of your own then this opportunity is no doubt for you. Yes, auto loans after Bankruptcy is just like a boon for them. Though these customers are signs of high risk, lender does lend money to them under certain condition.
Things you will get:
You will get the money required to buy a car either a new or used one. To put the lender at some what safer side you have to have pledge some security against the help provided to you. Generally you can put your car as collateral against the loan. And if you want to put any other valuable property against the loan you obviously can.
Eligibility:
All UK citizens are eligible to apply for. As you are having credit problems, so it is necessary for you to have a regular source of income to prove your ability to pay the money back.
The procedure:
A down payment has to be made against the loan. It greatly defines all the figures attached to the loan. If you pay more here, obviously you will get the financing at lower rate.
You need to find a lender ready to offer you the loan at affordable price. And the best place to do so is online having a lot of options available out there. Nowadays auto dealers are also coming forward with auto financing.
0 komentarze:
Post a Comment