First Financial subprime loans

5 Reasons to Take a No Credit Auto Loan with First Financial

5 Reasons to Take a No Credit Auto Loan with First Financial

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Did you know First Financial can offer you no credit auto loan options? Learn all about them in this detailed article.

According to reports by the Federal Reserve Bank of New York, 107 million Americans have auto loan debts. This data shows more Americans have car loans than mortgages.

Borrowers able to get auto financing at reasonable rates access larger and amounts than before. This sounds appealing to individuals with a solid credit history, but what if you are just starting off in the world of credit and have no history at all? The good news is that even with poor credit you can still get car financing by opting for a No Credit Auto Loan with First Financial.

But how can this happen? Read on to find out.

5 Reasons to Take a No Credit Auto Loan with First Financial

First, you need to understand the meaning of a No Credit Auto Loan. As the name suggests, this is a car loan extended to an individual with either no credit history, poor credit or limited history. Therefore, you can get an auto loan even without having a credit history, or with a bad credit history.

Below are the reasons why you need to take a No Credit Auto Loan with First Financial.

1. Fast Approvals on All Subprime Cases

Can you get a car loan with bad credit? This is a question asked by many people and you might be surprised to find out that of nearly 50% of American borrowers have a tarnished or limited credit history.

In other words, their credit scores lie in the subprime category, which means they have limited options for accessing loans. This category of people will find First Financial their best option since they can place their application regardless of their situation, whether its bankruptcy, poor credit, or no credit.

If you want to make a major purchase like a car or a truck and your credit history is not appealing, then this is the best website to turn to. You will be able to access the loan in the convenience of your laptop at the lowest possible rates you can ever imagine. The process is easy and confidential and you are sure to get a quick email response to update you on the progress of your application

2. Able to Manage Your Loan in the Comfort of Your Laptop

First Financial is an online lender which means it is accessible 24/7 anytime, anywhere. Some of the conveniences you are certain to enjoy:

  • Deposit payments using your laptop or handset.
  • Read your statement anytime on your devices.
  • Update your account profile which includes changing your logins for better security.
  • Compare interest rates of different dealers in the site.

First Financial believes that obtaining a No Credit Auto Loan should be hassle-free because this is a long-term financial decision you are making. You should not be under duress by auto-dealers whose main concern is the interest they get for every client they bring on board.

Working on your car loan from home will give you the freedom to check on different prices and options available so that you are sure to make an informed decision.

3. Reasonable Qualifications for Auto Financing

The requirements of getting an auto loan without credit on this website are so easy you may think it’s too good to be true. While the requirements are stringent enough to avoid liability to the borrower, they are also “loose” to ensure that most of the applicants get approved. The following are the only qualifications for auto financing:

  • Applicant should be a U.S. or Canadian resident of legal age-18 years and above.
  • Gross monthly income of $1,500 if the credit score is less than 625.
  • If the applicant has filed for chapter 7 bankruptcy, he/she should have completed the “341 Meeting of Creditors.”
  • If the applicant has filed for chapter 13 bankruptcy, he should show an “Authorization to Incur Debts” from the trustee.
  • Commitment to buy a car from their various approved car dealer partners.

Even if you have been declared bankrupt, you have a reason to smile because First Financial will sort you out. Such financial hurdles will no longer deter you from obtaining a loan for your vehicle or truck.

4. Special Package for Military Personnel

Members of the armed forces both on active duty or retired and struggling with bad credit may wonder how they may qualify for a car loan. First Financial has tailored made auto financing programs that helps them to obtain auto loans in spite of their poor credit scores.

First Financial understand the difficulties encountered by these military men and women in their effort to maintain safety and that is why they have specialized programs dedicated to them. Military auto loans are different from normal civilian loans because they are often offered on lower interest rates, require lower down payments and come with special discounts.

The rate of approval is high mainly because of the stability of their income. Military workers should not put off buying a car because of the demand of their duties but should embrace this enticing opportunity

5. Having Access to a Wide Range of Dealers

As mentioned earlier, First Financial is an online provider of bad credit car loan that partners with hundreds of authorized and licensed car dealers. This site will allow you to shop for dealers while comparing prices and interest rates.

To crown it all, you will be able to get several preapprovals using only one application. So don’t allow yourself to be limited by the car dealers or the financial institutions in your area, browse through our website for an array of choices.

Get a No Credit Auto Loan with First Financial

It may seem daunting at first but it is not impossible. A few tips will help you navigate the murky waters of credit even with no credit history to back you up.

Engaging a co-signer with an excellent credit history in your auto loan will increase your chances of approval. Also, a reasonable down payment will show the potential buyer that you are serious about buying a car despite your bad credit history and may serve to reduce the total cost of your loan. Finally, shop around to explore the options available in the market and compare various interest rates and the payment plans that suit your budget.

Remember, First Financial will offer you the best financial support irrespective of your credit history. Apply for your No Credit Auto Loan today in less than three minutes.

 

5 Great Reasons for a Personal Loan

5 Great Reasons for a Personal Loan

Whether faced with an emergency or you need to borrow, discover the benefits of a credit product that suits your needs and great reasons for a personal loan.

5 Great Reasons for a Personal Loan

We live in one of the strongest economies in the world. Yet, despite that strength, wages haven’t kept up and about 40% of Americans struggle to make ends meet.

Fortunately, there are financial tools that people can use to help them meet their monthly obligations or dig out of debt. Personal loans have easily passed credit cards as a preferred form of debt.

What are 5 outstanding reasons to take out a personal loan?

Keep reading to find out.

Why Are Personal Loans Popular?

Personal loans have moved past credit cards to become the fastest growing type of debt. To understand why let’s look at what personal loans are.

Personal loans are loans that you can take out for any reason. When you take out an auto loan or a home loan, it’s for those specific purposes. You borrow a certain amount of money at an interest rate determined by your lender and you make monthly installment payments for the term of the loan.

The terms of the loan can be anywhere from 6-60 months, depending on the amount you borrow. The great thing about personal loans is that they are available to people with good credit and bad credit.

Personal loans offer a lot more flexibility and stability than other forms of debt because you can take them out for a number of reasons, and you know what the monthly payments will be every month.

5 Reasons for a Personal Loan

Would you like to improve your financial situation? In that case, a personal loan may be a smart move for you. Let’s look at some of the more common reasons for a personal loan.

1. Consolidate Credit Card Debt

The most common reason why so many people turn to personal loans is to consolidate credit card debt. The average person has about three credit cards, which means three separate debt payments.

Depending on your interest rate, you can be paying much more in interest over the long haul than what you actually paid for.

What a personal loan can do for you is you can pay off those credit cards completely and just have one monthly payment. The monthly payment is likely to be lower than what you’re paying out every month.

The interest rate is likely to be lower than credit card debt, too. That means that you’re saving on your monthly payments and paying less in interest.

2. Start a New Venture

Starting a new business is an exciting opportunity that does require some start-up capital. Most small businesses cost between $3,000 and $5,000 to start up.

That doesn’t seem like a lot, but when you are in debt or you are having trouble making ends meet, a personal loan can be a lifeline.

You can avoid the trouble of having to present a formal business plan when trying to get a business loan by getting a personal loan.

A personal loan won’t have the same strict requirements as a business loan, and you have the flexibility to invest the borrowed money as you see fit.

3. Add Value to Your Home

One of the reasons why people take out personal loans is because they want to take on a major home renovation project. A remodel could cost anywhere from $18,000 to $36,000 depending on the size and scope of the project.

Not many people have that kind of cash lying around, so they’ll turn to personal loans to finance the project.

It’s a smart move because these projects can add a lot of value to the home, which will increase the sale price. You’ll often see people renovate when they’re getting ready to sell, knowing that they’re going to see a return on those funds.

4. Cover Unexpected Expenses

Car repairs, a medical emergency, home repairs, pet emergencies can all take a bite out of your finances. If you’re having a hard time making ends meet as it is, how will you be able to come up with the funds to these possibilities?

That’s where a personal loan can help you. One of the reasons why people turn to personal loans for emergency expenses is because they will be able to pay it back in monthly installments.

5. Build Up Credit Score

Your credit score determines so much in life. Your ability to get a home, an apartment, a job, or any other forms of credit all hinge on those three numbers that make up your credit score.

Do you have to start building up a credit history or rebuild your credit?

Taking out a small personal loan will help you do that. With a small personal loan that’s paid back on time and in full, you’re showing creditors that you’re responsible with debt.

That will also help you increase your credit score.

Ready to Get a Personal Loan?

There are many reasons for a personal loan. When you do take out a personal loan, you want to make sure that you can either save money or make money.

Starting a business, consolidate debt, or start a home project that will pay off down the road are great reasons for a personal loan. The great thing about a personal loan is that you can take them out for any reason, even finance a vacation or a wedding.

Would you like to find out more about getting a personal loan for your financial situation? Find out more about First Financial’s personal loan programs here.

First Financial

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