Almost every car owner had to get a loan to buy their car. Not everyone has the financial capability to purchase cars outright. But what if you need to sell your car and the loan is still ongoing? It could be because of financial constraints, or maybe you really don’t need or want that car …
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Most of us find ourselves needing or wanting to purchase something that we cannot afford at the moment, making it necessary to take out loans. Whether it’s a car, a house, a college degree, or a wedding — not all of us are able to save up for these items in time. It is important …
Continue reading “Understanding the Different Types of Loans”
On average, an American has a debt of $90,460. This includes all types of consumer debt — credit cards, personal loans, student debt, and mortgages. The average American millennial has $87,448 in debt, while the average Gen X person has $140,643. People from Generation X have the highest debt on average. Big ticket items like …
Continue reading “Smart Amortization Strategies You Should Know”
Your credit score is the central number that financial institutions check before they lend you money, and if you’re looking to get a mortgage or a personal loan, you’ll know that you can’t do this without a good credit score. But do you know how you can build a good credit score? And do you …
There may be times when you would find yourself in a tight financial situation and in an immediate need of cash, a couple of weeks before payday. Whether it’s an overdue bill that you have to pay asap, or an emergency situation that needs to be addressed immediately, cash loans can help give you quick …
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Do you need some extra money to finance some significant event in your life? Whether it’s for a big vacation or a home renovation, an unsecured personal loan can give you the relief you need. It is one of the most straightforward loan options that you can get to help in a time of need. …
Continue reading “Unsecured Personal Loans: What is it and How Does it Work”
Are you taking out a personal loan or a car title loan? Chances are you’ll encounter two terms: APR and interest rate. Annual percentage rate and interest rates are two values that refer to a similar concept. Then again, they have subtle differences when you calculate them. As you evaluate the total cost of a …
Continue reading “APR vs Interest Rate: Understanding the Difference”
Between personal loans, car title loans, credit cards, and mortgages, it takes work to track and pay them all. Debt consolidation allows borrowers to combine their loans into a single payment. You have to take note though, that while this convenient type of loan can help you streamline your finances, it will not resolve any …
In September 2021, the Federal Reserve announced that consumer credit increased by 5.6% during the third quarter. So if you’re struggling with debt due to the pandemic and even before it, remember that you’re not alone. A good way to get yourself out of the hole is through a debt consolidation loan. Debt consolidation loans …
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When you apply for a personal loan, the usual process involves you receiving a loan offer that details everything within the contract. Personal loans are a great financial tool that you can use for almost anything you would need. This is why it’s essential to know what’s in the offer and get the most out …
Continue reading “6 Steps to Personal Loan Offer Evaluation”