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Consumer
Debt Is Slowing - The latest figures for consumer
borrowing show that that the growth rates seen in recent times
has started slowing down. Borrowing as now slowed to 1.4%
instead of 10% which has been the arrange for the last 10
years.
© Copyright 2007 www.Self Employed Help .co.uk
~ All Rights Reserved.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS
ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. |
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Self Employed Car Loans
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When you are self
employed there are challenges thrown at you all of the
time. You find it difficult to get financial help and
even getting a car loan can be tricky. However it
doesn’t have to be like that and with more people than
ever before choosing to be self employed, companies have
expanded their services to meet the demands of these
self employed people.
There are some companies who specialise in self employed
loans and they offer you money for virtually anything
that you want. Some specialised car loan companies
include our broker which you can apply
to here
The above are just a few of the companies who offer car
loans to the self employed. You will have to search
around to find a company which is right for you as all
lenders have different interest rates. Interest rates
for car loans for the self employed can often be a
little high. This is because you cannot prove your
income and therefore there is no guarantee to the lender
that you will repay the money back.
It is not like with a self certification mortgage where
you sign a declaration and they take your word for it
– with a car loan they do not usually operate like
that. However there are companies who will treat you
fairly and it doe help that self employment is becoming
more common these days.
It often helps if you are a homeowner too because many
lenders will ask you to secure the loan upon your home.
Obviously that would be insurance for them in case any
repayments weren’t met, though it is risky for you. If
you did fail to meet the repayments for whatever reason
then you could lose your home for the price of a car!
Overall you need to
put things into perspective and do not agree to anything
which you cannot comfortably afford. Look around for the
best rates and try and find a company which specialises
in self employed car loans.
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