Car loan 1 hour release has lately been getting very popular for many private lending companies and banks in the Philippines. The fact that this collateral loan is perfect to avail if you have a vehicle to pawn adds up to fast processing of this secured personal loan in the country. Furthermore, secured loans compared to unsecured non-collateral loans are processed much quicker for the simple reason that lending companies have lower risk and lower delinquency rate because the loan borrower have something that can be repossessed in exchange for not being able to pay for what the loan contract says just in case. In dire need for faster processing, the
car impounding loan is best fit for cash loan borrowers. How to go over with the list of requirements will be presented to you later below.
In the meantime, just to give you an idea how much faster car impounding can come up with the cash, well, I say, as fast as 2-3 hours only. If you have what it takes, 1 hour at its fastest phase can very well be on the way. If you really need super quick cash, car impounding loan would be the right car collateral loan product for you.
Is It Hard to Compute for Figures with Car Loan Using Loan Calculator?
If you think that
loan calculators are much harder to use for
auto loan, you are wrong. From interest rates to fees and charges to initial loanable amount, it is easy to give you a computation for lenders. There are certain standards that lenders use to compute and give you an estimate loanable amount in exchange for using your auto as collateral. There are also fixed tables and base figures to use to come up with an initial possible loanable amount based from fair market value that is equal to the prevailing selling price of your car on the internet. Usually, the loanable amount that would give you the highest would amount to as much as 80% fair market value (FMV). With this set up, it is much easier therefore for most banks and private lenders to come up with a computation using the loan calculator standards.
Who May Avail Car Impounding Loan?
Basically, anybody who have a car that is fully owned can qualify to apply and avail of the
car impounding loan. The only difference between the regular car loan to the impounding system is that the latter will oblige the vehicle owner to surrender the car for impounding by the lending provider while the first one uses the popular car loan without taking your car system of processing. The two pending questions in this case are, do you need super quick cash? and are you ready to leave your car to lenders in exchange for getting a loan?
By simple, easy-to-understand reasons, it would therefore be easier and much faster to get quick cash with the car impounding. You won't even need to have an income in this case to pass and be qualified to apply and avail super fast cash loan. In fact, a 2-3 hours and as fast as 1 hour cash release and turn over of proceeds might just be on the way if you avail thru impounding.
Requirements for Car Impounding Loan
Meeting qualification requirements is easy for this type of car collateral loan. All you have to do is make sure your car is fully owned or you have the necessary documents if you are the second owner of the vehicle. In this case, you have to possess 2 valid IDs of the previous owner and a duly notarized SPA or deed of (absolute) sale.
If the car is fully owned and is under the borrower's name, there is one more thing you need and that is to be ready to leave the car to the private financier.
- Original OR CR of car
- Car and car keys
- No income required
- No co-borrower needed
- Those with own checking account will have the faster advantage for mode of payment thru PDC issuance. Don't worry if you don't have any because our loan provider will give you referral to affiliated banks.
For this type of collateral loan, you'll get the check to be encashed cash cold in bank as soon as the proper verification in
LTO for your vehicle is done so it is strongly advised to have an alternate vehicle to use for transportation after you get the money. Otherwise, you'd have to go for a taxi.
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Other types of Collateral Loans (without taking vehicle / property) We Offer:
To avail of free loan consultation, inquiry, assistance and processing and get low interest rates, please click here -
CONTACT ME or use my contact numbers below.
Call me to apply for Car Loan – Sam Casuncad (Pinoy loan consultant)
home office phone: 542 7015 / 366 3645
Sun Cellular No 0932 – 872 5532
Smart Cellular No 0939 – 9269335
Globe No 0917 – 5019245
Email application form at info@loanph.com or samcasuncad.ofwcashloan@gmail.com
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