Month: February 2020

Cash car loans bad credit -Check out our fast approval car loans for bad credit

Many people cannot do without a vehicle, they have to be mobile. The reasons for this can be very varied. For example, because you live in the country and the public transport networks are inadequate to get to work, to shop or to the doctor. Nowadays, people simply have to be mobile – a car is an advantage here in many ways.

Unfortunately, the purchase and maintenance costs for a vehicle are very high. Not everyone can, therefore, afford their own vehicle. Often you have to save for years to be able to afford a car. Not everyone is able to do this. That is why there is an interesting offer from the banks with which you can buy your own car.

Check out our fast approval car loans for bad credit

If you want to buy your own vehicle, you canĀ redirect to Motorlender and take out a loan for a car loan for bad credit. This form of lending has long been included in the portfolio and reflects the usual credit framework. This means that the borrower must have certain collateral to get a loan for a car approved. This includes, for example, the applicant’s creditworthiness, which must be proven by proof of income or other property (e.g. real estate, shares or life insurance).

If these are not available, there is still an emergency nail, namely a guarantor, who can stand in for the repayment of the borrower. In addition, there should be no negative entry in the nationwide credit check database, in any case, otherwise, it will be very difficult with loan approval for a car. The usual, realistic conditions for such a loan are clarified below.

Conditions and framework conditions for a car loan

The maximum loan amount available for a car loan is between USD 50,000 and USD 150,000, depending on the provider. You can already afford a very chic car here. The loan terms are between one and ten years. Another factor is the effective interest rate. According to the current market situation, the effective interest rate is optimally around 5 percent. It differs from bank to bank, so a precise comparison is definitely worthwhile.

Generally, car loans are offered as installment loans, which means that you have to pay off your installments every month. In order to reduce the monthly installments, some banks allow special or one-off payments to be made. Down payments are also part of the usual special conditions for a loan for a car. A loan of this type is a very good way to get your own vehicle quickly and easily.

Finance motorcycle – Motorcycle loan comparison

Motorcycle financing – the possibilities

Motorcycle financing - the possibilities

The world of motorcycle models is colorful and diverse. There is a suitable vehicle for every motorcycle passion, either as a new or used motorcycle. Fans of old machines usually buy from specialized dealers or from private customers. The motorcycle dealer is still the first address for brand new motorcycles in various designs.

Motorcyclists have several options to finance a motorcycle:

  • Motorbike loan via the dealer’s partner bank as installment loan with down payment or trade-in of the old motorcycle
  • Balloon financing through dealers
  • 3-way financing through dealers
  • Car / motorcycle loan from online banks
  • Installment loan for free use

Which variant should be chosen depends on the financial and personal requirements of the customer. The balloon financing is characterized by very low monthly rates and a high closing rate. The 3-way financing enables the motorcycle to be returned at the end of the financing period, a down payment is required and the monthly installments are low, but a higher follow-up payment must also be made if the motorcycle is purchased at the end of the term. These financing options are especially common when buying a dealer. The “normal” motorcycle loan with down payment and constant monthly installments can also be realized via the dealer’s partner bank.

The auto or motorcycle loan offered by direct banks is becoming more and more important for motorcyclists who want to finance a motorcycle, as it can be taken out for every motorcycle, new or used, offers low interest rates and flexible repayment methods. Depending on the bank, the vehicle registration document also remains with the borrower. Any motorcycle can be financed cheaply, because the borrower can act as a cash payer and thus get a hefty discount from the seller. The same applies to an installment loan for free use. Here too the offers are manifold. The explicit motorcycle loan comparison lists the best loan offers and is worth money as a decision-making aid.

Motorcycle finance comparison

Motorcycle finance comparison

The targeted comparison for motorcycle credit online from direct banks is quickly possible with a credit calculator. Enter the loan amount, term and purpose of use and the calculator shows the banks with their relevant conditions, where you can take out a cheap loan for a motorcycle.

A cheap motorcycle loan, as a loan for a used motorcycle or a new model, is characterized by the following conditions, which should be considered in the motorcycle loan comparison:

  • No processing fee
  • Low, annual percentage rate
  • Low, non-credit interest rate
  • Possibility of suspension of payments
  • Special repayments at any time and free of charge
  • Early repayment option without additional costs

The motorcycle loan online proves to be cheap motorcycle financing without a down payment, which is beneficial for borrowers who can neither sell an old motorcycle to provide the money for the down payment nor have savings that can be used for it.

Motorbike financing without fully comprehensive insurance

Motorbike financing without fully comprehensive insurance

If you want to finance your motorcycle, depending on your financing partner, you may be faced with the obligation to take out fully comprehensive insurance. Generally, fully comprehensive insurance is not a mandatory prerequisite for obtaining a motorcycle loan.

Fully comprehensive insurance, however, always makes sense, because in the event of accident damage and theft, the financed motorcycle is extensively covered and the borrower has no further costs. Fully comprehensive insurance can be taken out with any insurance company, unless the lending bank ties the loan to taking out fully comprehensive insurance with an insurance partner. Therefore, the conditions of different insurance companies should be compared, because here too there are differences in the amount of the premium and the coverage of the damage. A loan offer from banks that finance a motorcycle without insisting on comprehensive insurance with a partner company is therefore often the cheaper option.

Does motorcycle financing make sense – yes or no?

Does motorcycle financing make sense - yes or no?

In order to answer this question realistically, it should be borne in mind that loans are no longer only taken up for urgently needed expenses, which was earlier the case. Life is short, leisure time is scarce and that also puts credit in a completely new light. Hardly anyone has a lot of money left over due to average or even low income and the constantly increasing cost of living to save for years on one goal. Most don’t want that either, because life takes place in the here and now.

A cheap motorcycle loan, the term of which is kept as short as possible and which also adapts to changing living conditions, makes perfect sense in order to fulfill your dream faster. However, a motorcycle should only be financed by those who can actually repay a loan and who do not overestimate themselves financially. This can be found out quickly by a motorcycle credit comparison and a well-founded input / expenditure calculation.

Motorbike financing without a bank

Motorbike financing without a bank

Loan seekers who want to finance a motorcycle, but have little chance of reckoning with banks and credit intermediaries due to creditworthiness or low income, can also consider a motorcycle loan from a private person. This motorcycle financing without a bank is possible through online credit marketplaces like Astro Finance. Private individuals, who are referred to as investors, act as lenders for the loan because they receive a return on interest for their investments. For example, if you want to initiate a used motorcycle financing via Astro Finance, register and submit a loan application on the platform.

However, the creditworthiness is not left out here either, rather the loan interest rate that is applied is based on the credit rating. A low credit rating therefore means a higher loan rate. The advantage of this motorcycle loan without a bank is that private individuals set different standards and the human component also flows into the decision to invest in a loan project. Several investors can bid on a loan application, which significantly increases the likelihood that the required loan amount will come together.