About Consumer Loans / Car Loans
As opposed to many personal loans, in a consumer loan / car loan, the car acts as security against the loan. As the risk of outright loss by the financier has been reduced, this means that interest rates on consumer loans and car loans from lenders are generally more competitive. By applying for a consumer loan or a car loan, one is applying to borrow an amount of money to cover the cost of purchasing a vehicle, in return for regular repayments over an agreed period of time.
Consumer Loan or Car Loan - Benefits
Anybody can apply for a consumer loan or a car loan (provided they are over 18 and have a drivers licence). Repayments can be structured to suit needs. Interest rates for consumer loans or car loans are generally lower than for unsecured personal loans. One has the ability to build up equity in vehicle. On-roads costs, insurance and other expenses are usually incorporated into the consumer loan or car loan. The consumer loan or car loan may be available with no deposit (conditions normally apply). Fixed interest rates.
Applying for a consumer loan or car loan
Applying for a consumer loan or car loan with FMC is easy. FMC can assist with choosing the correct product to suit situation, prepare all the paperwork and submit it to the appropriate lender. As a broker, FMC is not restricted to a particular Lender, FMC can shop around for the product and term, helps to avoid the pitfalls and provide with the old fashioned service that is missing in a lot of businesses today. FMC then completes the process with the minimum of fuss and professionalism, normally in the comfort of one’s own home or office.