Car Loans

For those of us without trust funds , significant  savings,  or considerably high revenue streams, a car loan can be a necessary wealth building credit facility.  Using a car loan is a great way to getting a personal car and/or  generating a revenue stream using a car oriented business without having to have any of the cash upfront. Because it is collateralized meaning the loan is backed by the car itself, it offers a considerably low interest rate. The key to using this type of loan facility wisely is to ensure that your interest rate (the premium you pay for getting the funds upfront) is suitable for your current and future economic goals.

New Car Loan

Purchasing a new car is a luxury spend (unless being used as a business revenue stream) and therefore is not a financially healthy decision for those who are not in a healthy financial position. This is because Cars are a depreciating asset. therefore it does not make financial sense to use one’s resources to purchase something that does not grow in value if they don’t already own or are not currently investing in an asset that is  actually growing in value e.g. a home, a business, investments in general. As our aim is to assist people in building legacy income, mindsets, all of our guidance will be tailored to ensuring that funds are requisitioned to assets that yield returns before putting funds into items that do not yield returns.

Used Car Loan

Used cars are very valuable assets for most people who are in the building  stages of their financial  . Interest Rates on used cars are typically higher than new car loan rates. however the cost of the actual car  is significantly lower . This results in lower monthly payments and lower monthly insurance costs. With a favorable credit score, The terms for used cars can range up to 7 years providing one with a fixed low monthly expense in which one could leverage monthly savings exceeding 300 per month simply by purchasing an older car.

Loan Against Car

With no income documents required, getting a loan couldn’t get any easier. Borrow-Loan Company offers you car loan at basic interest rates and flexible EMI for repayment.

Let our Financial Advisors get you approved with the best rates and terms today!

Start your application now!

Cash Loan Facility

If your car has significant equity and is nearly paid off, you can refinance the car to get cash for another purpose at a much lower rate than a personal uncollateralized loan.

Car Loan - Eligibility

As cars are depreciating assets, meaning they do not appreciate in value over time, we do  not advocate for people to spend high amounts of interest on their personal car. If the car is an investment, meaning the car is being used to generate income via tours, uber,taxis,car rentals,etc, then a higher interset rate is warranted.

“Spending more than 10% of your monthly income  on a car loan if you don’t own any appreciating assets is not a strategy that we advocate for our clients,  By accepting loan terms with higher interest rates and thus higher monthly payments, you are literally giving your money away to the lending institution ! The cost of wanting it NOW is a very high price to pay! Our goal is to help our clients leverage their credit to gain access to much better lending terms for their vehicles. We want for you  to use your hard earned money in a healthy manner, one that is geared towards enhancing your life , not maintaining a cycle of poverty.”

Existing Debt

Amount of existing debt and one’s current monthly loan payments are considered during one’s application.

Income

Debt to Income Ratios need to be considered.

Credit Rating

Applicant should have the bank specified credit score.

Get a Car Loan Analysis Report

Now apply for a Car Loan online, All you need to do is provide your details below application form.