Are you looking for a loan but not sure what type of loan to get? Do you own your car in full or just have just a few remaining payments? If so, then call 1-888-500-9887 to find out about car title loans from Car Capital Financial. We can get you a loan in a matter of hours, delivering money in as little as 30 minutes from first receiving your phone call.
If you’re still considering the different types of loans available, read on to discover 4 popular types of loans and the easiest ways to apply for them:
There are many different types of home loans but the most common is the mortgage. A mortgage lends borrowers a huge amount of money, up to the total amount of the property they are trying to buy, in exchange for monthly repayments with interest tacked on as a financing fee. As houses are so costly, the majority of homeowners need to take out a mortgage in order to finance their home.
A mortgage almost always requires a down payment, the amount of which can range dramatically, based on what the borrower can afford. Typically, however, borrowers must usually make a down payment of at least 5-20% of the total mortgage amount to secure a mortgage. Most individuals who put down any less than 20% also have to pay for something called “PMI” or Private Mortgage Insurance until they’ve accumulated 20% equity in their home. Generally speaking though, the more money you can put down, the better mortgage you can get (due to lower interest rates).
To get a mortgage, you will need to directly contact a mortgage company. There may be a mortgage division at the bank you use or you can use a company that solely specializes in awarding and managing mortgages. A mortgage can take weeks, or even months to process and usually requires extensive paperwork, background checks and phone calls – but this lengthy process is more than worth it if it means you can finance the house of your dreams. However, if you need money quickly for a non-housing issue, then a mortgage won’t be an option for you.
2. Student Loans
Student loans are another extremely popular type of loan, and are taken out by students who can’t afford to pay for the entire cost of their education up front. There are many different types of student loans, but the most common two are Private student loans and Federal student loans.
Private student loans are offered by private lending companies that specialize in providing student loans. Federal student loans are awarded directly from the Federal Government, and usually charge lower interest rates than private loans, but they typically can’t offer as much as private loans can. As such, students planning on attending costly private college programs or studying out-of-state are almost always forced to rely on private lending options.
To get student loans, students will usually have to be admitted to their school of choice and then apply by filling out paperwork and providing various required documentation. Student loans can often be applied for by mail, online or through the financial aid office at the student’s university or college. Student loans have become an essential and unavoidable way for many students to cover the costs of their college education.
3. Business Loans
There are various types of business loans available, but all are designed to lend money to business owners who need extra funds to establish or expand their enterprises. One common type of business loan is the government funded Small Business Loan, which aims to encourage small business growth and success through lending small, short term loans to small businesses.
These loans can be a great way to borrow money from a reliable source that will typically charge a fair interest rate, but it should also be noted that government funded loans tend to be awarded in much smaller amounts than other business loan options.
If you want to borrow a serious amount of money to fund your business you will want to consider obtaining it from private investors, getting a line of credit or considering other secured personal loan options.
4. Car Loans
There are two main types of car loans: an auto loan and a car title loan. An auto loan funds the borrower with money to buy a new or used car, whereas a title loan uses the borrower’s existing car’s title as equity to secure them a loan they can use on whatever they’d like.
The truth is most of us can’t afford to buy a car outright in cash, and that’s where an auto loan comes in. Many car companies work with auto loan companies that provide car financing options for car buyers. You can expect to put down a cash down payment on a car, and then be required to take out an auto loan to cover what’s left, which you must be repay in monthly installments (with interest tacked on of course).
A car title loan doesn’t involve getting a new car but rather using your existing car to raise money. A title loan company will typically award you with a cash amount based on the value of your car in exchange for taking temporary ownership of your car’s title. Once you’ve repaid your loan in full, your car’s title will be returned into your name. If you need cash fast (title loans can often be awarded on the same day of request) and own a car in full or have almost paid it off, a title loan can be a great short term loan solution.
Choose Car Capital Financial
Avoid the time-consuming paperwork and weeks of processing required from many of the loan options listed above by choosing to take out a safe, reliable and affordable car title loan from Car Capital Financial. Title loans are issued based on your ability to repay the loan.
We are a leading Southern California title loan company and can get you your loan extremely quickly. We can process your loan on the same day of request – delivering your money as fast as 30 minutes.
Call us now at 1-888-500-9887 to get your loan today!