Car Pawnshop Car Remains At You

The market of auto-mortgaging has been around for a long time. It is divided between themselves Pawnbrokers and Banks, issuing consumer loans. All of them have different tariffs, interest and terms of loans. But up to now, there has always been one thing: Banks issue consumer loans on the basis of a fairly tough risk management policy . Loans are approved only by the most high-quality customers who have a good credit history, work with a high official salary, and the opportunity to confirm it documentarily. Pawnbrokers who lend against a car, in turn, have less stringent criteria for selecting borrowers. For them, the main, and often the only, role is played by the legal cleanliness of the car. Therefore, the car dealer can issue loans to virtually any borrower, regardless of his creditworthiness. At the same time as insurance against a possible non-refund of the loan is a car that is accepted as a pledge, and remains in the parking lot for the entire period of the loan. Thus, the entire demand for the auto loan market is divided between a bank, a relatively inexpensive loan, which can be obtained by not more than 15 percent of the total number of potential customers and an Avtolombard loan, the interest on which exceeds the bank by 3-5 times, and the prospect of leaving your car in the parking lot Pawnshop - not happy. As a result, a large number of customers are formed, which neither the bank nor the car dealership is happy with. These are clients who do not have a high official salary, with a slightly corrupted credit history and therefore not suitable for the criteria of banks, but do not want to make a loan at a high percentage of the car dealer, and leave the car in the parking lot. It is for this category of potential borrowers, more recently, the service of the car Pawnshop car has been provided. This is the "golden mean" between the terms of the Banks and the Pawnshops. Under this mortgage lending program, customers who own a car in the property are accepted, and there are all the necessary documents confirming it. The client may not have an official job, the credit history may be a bit spoiled, but if the company makes sure that the client is really solvable, then he will be able to get money on the security of the car. The time for consideration of such applications takes not more than one and a half hours. At the same time, the level of interest rates is in the middle between the banking and car insurance. The total cost of such a loan can be from 24 to 60 percent per annum, which in most cases meets the existing demand on the market. But the main highlight of such an auto loan is the opportunity to get a loan secured by a car and leave the car at home while continuing to use it for the duration of the loan. Only in the event that the client ceases to make regular payments for the loan on the security of the car, Auto Loan can apply sanctions to his car. In this case, the company that issued a loan on the security of the car, has the right to confiscate the car with subsequent implementation, to cover all of its costs. And even with such a combination of circumstances, the borrower will not be deprived. After all, the amount received from the sale of the car usually exceeds the amount of the client's debt to the company, which means that he has the right to receive the amount remaining after covering the debt before the auto loan. So the new service Car Pawnshops - car Pawnshop car remains with you, allows you to get money on the security of cars to almost any car owner who does not have the opportunity to get a loan from a bank, but who does not want to leave his "horse" in the car park parking lot.28.10.2011 author http: // Avtocredit-online.ru