Every can be a situation when urgently needed money. The solution to this problem may be different. Some draw up instant loans online, and some decide to take out a loan secured on a car. Which is better? And how these two methods differ from each other?
Where today you can receive a loan online
The last few years in the financial market of Ukraine are successfully working non-Bank loan companies. They help the Ukrainians to deal with temporary financial problems by providing loans online. To get the money in such institutions, you need a minimum of time and effort, because the whole procedure is carried out via the Internet.
Every lender has a website on which you configured automatic program. They make possible remote execution of credit agreements and conversion of money to borrowers in just 10-15 minutes if the customer has only the basic information from the passport and identification code.
In parallel with the sites of loan companies also operate services aggregators. One of the biggest is Loando.ua. Using an aggregator, the client does not have to spend a lot of time finding the right credit offers, because this tool performs a search automatically. You only need to specify the requirements for the loan, and the program will instantly offer some of the best options.
The advantages of loan online
It is not surprising that the popularity of online loans is constantly increasing, because this method of obtaining money in debt has many benefits. The most significant of which is the absence of many formalities. When applying for a loan online, the client does not need to collect a pile of documents to prove their creditworthiness and undergo credit scoring.
Also, do not have to personally visit the lending institution and wait in long queues. All you need to do is to visit the website of the lender, a few minutes to fill out a simple application and send it. The response from the lender comes instantly and in 90% of cases it is positive. Is the borrower to accept the conditions of receiving the money, to sign an electronic contract via a one-time code and receive funds.
I should add that contacting remote credit card company – is the only possible way to get a loan without certificates of income and formal employment, and in the presence of a bad credit history or in case of its absence.
Loan secured car as an alternative to loans online
Another common form of loans in our country are loans secured by a car. In many cases, these loans become a good alternative not only Bank loans but also loans online.
This is because loans against car allow you to obtain a much larger amount and for longer period of time. Although the process of registration is slightly more complicated than a loan online, however the probability of failure is minimal. Moreover, when considering the application for mortgage loan, credit history and customer’s income are not essential.
Most borrowers often applies for a loan secured by a car in banks, because it is believed that this is the most secure way of obtaining debt. However, some decide to receive money to other institutions, if loan terms be more favorable.
How to make a loan secured by car
Unlike loans online loan secured by car is impossible in remote mode. To apply and a contract will have to personally visit the lender and submit the original documents.
Among the required paperwork generally required:
- the passport of the citizen of Ukraine,
- identification code
- driver’s license
- passport of the car,
- certificate of registration of the vehicle,
- confirmed with the notary the power of attorney to auto bail
- in some cases, second set of keys.
Also do not forget about the need to provide contact details, address of residence, information on place of work and income. You should provide only truthful information, because all the data in detail verified for accuracy. If you find the fact of fraud, the loan can be denied.
The response to the request to wait about an hour, though sometimes the whole process can be delayed up to several days. As for ways of getting money, they can obtain cash to any Bank card. It all depends on the type of the credit institutions, as well as your wishes.