Apply For The Fastest Approved Secured Auto Loans Online Today
You may get qualified for easily affordable secured car loans online and buy the car you want. Typically, such types of auto finances require borrowers to pledge the vehicle being purchased as security against the loan amount being provided. Consequently, lender's lending risks will get significantly reduced since they could always have the chance to repossess the car if a borrower defaults on monthly payments. But low interest rates could be guaranteed as lenders have collateral for protecting the money that is lent.
Carloan2 has auto loan dealerships within its national lending network that specialize in providing such car secured loans to applicants regardless of the status of their credit scores. Besides, we have a team of competent professionals who could guide you through the process of getting one. As a result, with our expert online assistance, you may be able to:
- Buy a new used car with fixed or variable interest rates
- Secure manageable monthly payments that fit your budget
4 Important Benefits Offered By Our Loans Secured On Your Car
- Your valued car serves as security so no other valuable asset is needed to be mortgaged
- Interest rates will be lower as compared to the ones being offered on unsecured auto loans
- Determine the amount of loan you need and choose the duration you want to pay off the loan
- Easy-to-manage weekly, fortnightly as well as monthly payment plans available, just make a choice
Know When A Car Loan Secured Cannot Help You - Few Exceptions
By qualifying for a secured auto finance loan, you could buy new as well as used vehicles even if you have poor credit history. However, there could be some limitations that will apply.
For example, with the help of a secured car finance loan, you cannot:
- Buy used cars that are more than 5 years old
- Use the loan obtained for any other purposes
- Buy motorbikes, trucks or commercial vehicles
- Refinance an existing auto loan to lower interest rate
- Buy a car on which loan amount is already being owed
Learn Online How To Get Secured Car Loan Approvals The Same Day
Here are some of the fastest ways to get approved for your car buying credits!
You could think of getting an Guaranteed Auto Loan Approval in 3 different ways mentioned below
- Using the internet:
Apply online to get a fast and easy approval
- Making use of phone:
Talk over the phone with a bank representative to discuss your car financing needs
- See a specialist in person
Personally contact a car finance specialist employed by a bank in any of its branches.
Documentation For Getting A Secured Car Loan Approval Instantly
Lenders that offer auto secured loans will require applicants to give correct and accurate information, which is easily verifiable, along with their applications. To that effect, you need to make sure that the details being provided by you for the following documents are authentic.
- Monthly Income Proof: Copies of paystubs and bank statements for the past 3 months could be demanded by secured auto loan dealers. Besides, if you are self-employed, you will also have to provide copies of your previous two years income tax returns.
- Employment certificate: Most of the lenders will want borrowers to submit an employment certificate which clearly certifies that you have been on job for at least past 12 months prior to applying for a car secured loan. If you are self-employed, you could provide proof for having stable as well as predictable income annually.
- Resident address details: Applicants need to furnish details of residential address which demonstrate that they have been residing at the current place for the last 1 year to lenders that offer auto secured loans. If you have moved out of a home very recently, then you will have to provide information about an earlier home where you have stayed for 12 months.