A low credit score can mean that people do not want to loan money to you. This makes life extremely difficult when you need money badly. However, people have a car can obtain an auto equity loan from VIP Finance just because they own a vehicle, and it does not require that they give them up to the lender. VIP Finance has even more good news. If you have bad credit, we will not turn you down because of it.
We won’t even ask to do a credit check.
Why VIP Finance Is the Only Place to Obtain a Loan
People have many choices of non-traditional lenders. Why is an auto equity loan Bedford from VIP Finance the best option? This company has been loaning money to Bedford residents since 1989 and has had very few complaints in the process. You are free to go to another lender, but you might come across one that is not under the obligation to follow the laws of Texas as VIP Finance does.
Out-of-state laws may be more favorable to the lender than to you.
Those who are seeking an auto equity loan Bedford are, most likely, experiencing many financial difficulties. VIP Finance is very aware of this fact, and we are not in the business of exploiting it. Even after you receive an auto equity loan, Bedford, you may have troubles making your monthly payments. If this occurs, we will not automatically send your account to a collections agency.
We will be able to offer you a grace period so that you can catch up on your payments.
As was mentioned above, you may continue to struggle after you receive your loan. The answer may be an advance on the loan that you already have with us. Other lenders in this industry will not offer to do this for you. As a matter of fact, the competition will only offer you a loan with a term as short as 30 days. Our loans, on the other hand, have terms as long as 12 months.
What Is an Auto Equity Loan?
An auto equity loan is a loan that is similar to a home equity loan. The lender uses the value of your vehicle to determine how much money you qualify to borrow. Your credit score will never be a factor, but the lender will need to inspect the vehicle to determine its value.
You may receive 100 percent of the appraisal amount for a period of 12 months, and you can go through this process without losing access to your car. You will be the vehicle’s owner throughout the loan’s term, and you will be able to drive the car without limitations.
The Repayment Process
Repaying your auto equity loan Bedford is just as easy as qualifying for the loan. You will make monthly payments to VIP Finance that may be as low as $100 a month. In the event that your finances improve and you would like to pay off the loan early, you may do so without having to pay a pre-payment penalty.