Pata Car Assistance is a community assistance for those who need car repair loans, car loans, auto title loans, etc. If you find yourself in a situation where you need any help with obtaining any car loans, then you can safely contact Pata Car Assistance. Below you can see the main services and conditions for their provision.

Сar Loans

Buying a car is an important step in everyone’s life. First, you should become a real expert in the Auto industry which can be easily done with the latest auto news on TupeloAutoMuseum. This is due to the fact that the cost of a car is often rather high, and its subsequent use is associated with additional costs associated with its maintenance and repair. And if today you are not ready to extract a large amount of your own funds from circulation to purchase such property or do not have the necessary amount of money, then a car loan can be an excellent way out for you to resolve this situation.

A car loan is a type of targeted long-term lending used to buy a car. Using this method of lending will help make the purchase of a car more affordable, since the payments for using the loan are usually broken down into monthly payments made over a certain period of time, fixed by the loan agreement. The loan amount under car loans ranges from a few thousand to $100,000. Sometimes this amount can be even more significant depending on what your financial situation is and what kind of car you are planning to purchase. The term of the loan agreement ranges from 24 to 84 months and depends on the lender you apply to for such a loan.

Car loan payments include repayment of principal and interest charged by the lender for the use of credit resources. The interest rate on a car loan will be the better for the borrower, the higher his credit rating is. Sometimes a lender may also offer a lower interest rate for using a loan if the repayment terms are shorter than traditional car loans.

You should also remember that until you pay off the car loan, it will remain as collateral with the lender to secure the repayment of the loan if you do not make loan payments on time. As soon as the payments for the use of the loan are repaid, the deposit on the car you purchased on credit will be removed and the car will be transferred to your ownership.

An important aspect of car loans is that the borrower makes a down payment for the vehicle. Many lenders in loan agreements provide for a down payment of at least 10% of the purchase price of the car. It is generally recommended to deposit at least 20% for a new car and at least 10% for a used car. This does not mean that if you do not have the necessary amount to make a down payment, you will not be able to purchase a car. There are lenders who offer loans without a down payment, but the interest payments for using such a loan will be higher, since a large amount of loan funds will be provided for you to use.

The presence of a guarantor will also make it easier and faster to obtain a car loan. This may be a person with a good credit history, for example, a relative or friend who is ready to share the responsibility for using a car loan with you. The guarantee will also allow you to receive a lower interest rate for using the loan.

To be approved for a car loan at lower interest rates, you need to have a high credit score (usually over 670) and the ability to prove your financial situation by providing information about your income or a copy of your tax return.
There are also lenders that provide loans to borrowers with bad credit and low credit scores, but they tend to offer higher interest rates.

Сar Title Loans

A car loan is a type of short-term secured lending in which the borrower pledges his car as collateral for the loan. To obtain such a loan, the borrower must own his own car, not burdened with obligations under other types of loan products. If the borrower is unable to repay the loan he has taken, then in accordance with the terms of the loan agreement, the lender will receive ownership of the pledged car and will be able to sell it in order to repay the principal amount of the debt and interest on the loan.

Consider the Best Title Loan Companies in the US

Applications for a loan secured by a car can be filled out both online and at the office of a credit company. In this case, the applicant must provide proof of his ownership of the car, as well as be ready for a physical inspection of the car when filling out the application at the office. When completing an online application, a physical inspection of the vehicle is often not required, and the borrower must have good quality photographs of their vehicle, which they will upload at the same time as completing the online application.

Сar Repair Loans

Car repair costs are often an unplanned personal expense that can be financed with a car repair loan. Studies conducted in the US show that an American spends almost $1,200 a year on maintenance and repair of a car, and only 30% of American drivers are willing to cover these unforeseen expenses on their own. The rest uses other sources for these purposes, mainly loans.
Car repair loans can be used to cover transmission repairs, body repairs, engine replacements, general maintenance and any other repairs your vehicle needs.

An important aspect of such loans is that you can get it with a bad credit history and a low credit score. When providing such a loan, the lending company, as a rule, conducts a soft credit check, which does not affect the decision of the lending institution to provide this type of loan. The only thing you should be prepared for in case of bad credit history is higher interest rates for using a car repair loan due to the increased credit risk for the lending institution.

It should be remembered that the loan terms under these loan products are so varied that you can get your car repaired while unemployed, with a low credit score and a bad credit history.