If you need funds to purchase your vehicle, an individual credit or bank advance from a bank or building society can probably be the least expensive method of getting the cash if you can get a decent rate. However, make sure to investigate the advantages and disadvantages of individual advances first.
In addition to taking you to work, your car is worth many things, for example, getting a loan. The dire economic situation we are experiencing, with the credit closing of the banking entities, has led to the emergence of new liquidity channels. What previously seemed unthinkable to us, such as putting our vehicle under guarantee, now does not seem far-fetched, but the result of the current times.
A few years ago, there were hardly any companies dedicated to granting money for your car, and today they stopped being one and formed a legion.
Therefore, it is not necessary to search a lot to find places to pawn our car, but of course, without having to do without it. Leaving aside the prosperity this class of companies enjoys, it is advisable to consider specific requirements and caution when deciding on this form of credit. We will inform you how.
The age of the car
Cars must not exceed a certain number of years. Here the requirement of years is disparate; some, such as Gedesco, set seven years as the leading figure, while the car pawn company Bankcoche speaks of six.
However, many companies only ask that the vehicle to pawn not exceed ten years. Even so, if our car is more than six years old, there is the possibility of obtaining credit, but this time leaving it in the deposit (Bankcoche). Therefore, we cannot continue using it in our day to day.
Conditions and requirements
It would help if you also considered other aspects about the car with which you are going to get a loan:
1. The ITV must be in force
2. We must be aware of the insurance payment
3. All documentation must be in order
4. Of course, we must be the rightful owners of the vehicle
After meeting these requirements, the most crucial part is the vehicle assessment. It will determine the amount of the loan we will receive. After the appraisal, we will have our money in around 24 hours.
In this line, companies like Genesco have devised the monthly rent, baptized as Disrupting, allowing customers to enjoy their car. It only must face a monthly payment that Genesco considers “discreet” and assumable.
$500 without the endorsement of the car
Of course, perhaps the client lacks a vehicle to pawn or does not want to opt for this method, but he needs to get a loan. This way, we can decide for them to solve specific money needs, such as repairing an appliance or paying for insurance.
In these cases, you can try Casper’s quick credits. This company offers loans of up to $500 without requiring a title, without questions, and quickly and easily, since from its website, you can process the entire process and, in minutes, have the money in the account.
Another famous example of this type of instant money company is Vivus, which operates similarly, but establishes age limitations. Thus, young people between the ages of 21 and 24 can only request a limit of $200. Also, it is possible to calculate the interest that will accrue the amount requested through the simulator of your website.
In short, today, there are financing alternatives to get a loan without going to a bank, whether you have or do not have a car.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.