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Loans against Car - Cash against Your Car
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Posted On :
Oct-09-2010
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Article Word Count :
320
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Loans against car are types of loans that are secured against your car; the amount depends on the value of your car. They charge you a low interest as the lender has a back up if you do not repay the amount in time.
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You have a lot of desires but sometimes you have to sacrifice as your limited cash does permit you to meet them. Besides you have needs also. Desires can wait but you cannot keep postponing your needs and those of your family. Hence it time for you take a loan that will fund your needs. If you have a car, then you can apply for Loans against Car.
These advances are given to you on the basis of the value of your car. This means that they are secured in nature. You have to pledge your car as security. The lender realizes the value of the car and sanctions an amount depending upon the value of your car.
You get a repayment of up to 5 years for the loan taken. Thus the finance amount you have borrowed can be easily used for all those expenses that you have kept on hold like, educational expenses, a trip with family, home renovations, medical expenses, wedding expenses and so on.
The credit amount granted to you must be repaid in time as if you do not make repayment then the lender has every right to take charge of your car, he can sell your car and recover the amount of the finance sanctioned to you. You can also take loans against bullion easily.
The application procedure is easy. You have to submit all the right information, as the lender does conduct a verification process to ensure correct information.
To be an eligible candidate you have to-
• Be a citizen of United Kingdom
• Be above at least 18 years
• Have employment
• Draw a regular salary
• Have an active bank account
The traditional mode of application consumes a lot of your time, standing in long queues; you have to visit different institutions and so on. But if you apply online you are free from all these tensions.
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Article Source :
http://www.articleseen.com/Article_Loans against Car - Cash against Your Car_36951.aspx
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Author Resource :
Peter Darwin is financial adviser for UK Finance World. Click here to know more about loans for bad credit, loans against car, bad credit loans and loans against bullion.
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Keywords :
loans against car, loan against car,
Category :
Finance
:
Loans
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