All my friends know that I am very good with money. I managed to save a large deposit to buy the house that I am now living in. I have never been a person that has struggled with massive credit card debt.
Bearing this in mind, all my friends were very surprised to find out that I was struggling to get a loan to buy my new dream car that I had always wanted. I was accepted for a couple of loans however the interest rate was so high, and I would never be able to afford the repayments.I never knew that a lack of credit use would actually go against me. All money lenders apply for a credit report on anyone that is applying for a loan. If that person does not have a stable history of continued credit, it makes them unreliable and the banks are hesitant to lend money as they are not sure if they will get the money back. I only had my mortgage and one credit card on my credit report so I was classed as unsafe.
Every night, I sat there looking at web site after web site. I simply wanted a professional money lender who was going to give me a good rate of interest. It crossed my mind that perhaps they did not exist because of the economic crisis rearing its ugly head, a couple of years ago. Then just by chance, I stumbled across an article that was talking about secured loans.
I had never considered applying for a secured loan, so opened up Google to find out more. There was so much information to take in. Website after website was explaining secured loans. They all offered exceptionally good interest rates and I would simply use my property as collateral. This was the money lenders safety net in case I defaulted on the repayments.
Immediately I put Google onto my laptop screen and went off reviewing all the companies that were offering secured loans. One in particular caught my eye. It offered cheap secured car loans and there was a number to call a customer representative. After I had read their FAQ section, I immediately called the free phone number.
I explained my situation to the girl at the end of the phone. As my knowledge of secured loans was pretty poor, I was very interested in everything she had to say. I was able to take out a secured loan to buy a car at very good interest rates. I could also choose the repayment time of five years or ten years. Within the hour, I had the application form in my email in box and I eagerly filled it up.
I was definitely starting to get excited at this rate because it was beginning to look like I was going to get the finance to buy my dream car. I sent the application form off and waited to hear of the results. Within one week, my application had been approved. My dream has now been achieved and I am the owner of a smart brand new car.
Every month I simply pay the amount owed via a direct debit. It is easy and not as stressful as I originally thought it would be. If you have property or assets and are in need of credit, then apply for a secured loan today. They make life so much easier and offer affordable interest rates as well. There are so many companies out there that can make your dream come true.
Author Resource:
If you are after some cheap secured loans then be sure to check out this new personal finance site that offers some superb deals.. I found exactly what I was looking for and togther with a very competitive range of homeowner loans on offer, my son as able to secure one with very easy repayment terms. They guarantee a quick decision with no hassle.
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