Access My Loan offers you a quick and easy way to secure approval for your Car Loan with good or Bad Credit . We have lenders specializing in personal loans for any worthwhile purpose. Even if you have bad credit , insolvency , a bankruptcy, an economic failure or no credit at all.
Car Loan Information: A car loan (or
auto loan) is a loan used to purchase a new or used car. The
car itself is used to secure the loan. New car loans and
typically range from 3 to 7 years in length, while used car loans
are usually shorter in duration. The interest rates for
auto loans depend on the length of the car loan, and the credit
rating of the buyer. Its a personal loan to purchase an automobile.
Car loans are not too much different from an unsecured personal loan. There are many ways you can finance a car's purchase. Car loans is just one of them. There is also Personal Contract Purchase (PCP), where you pay an amount up front, then monthly payments, then you can either keep the car by paying a final payment or give it back for nothing. Then there is Hire purchase, which is not too much different from car loans - in that you are given the money to buy the car, and pay it back in installments. However, the difference is in the ownership of the car. With hire purchase you do not own the car until you have fully paid off all of the installments. With car loans, you own the car from the moment you have bought it with the money lent to you.