Here’s a Peek on Car Collateral Loans and Car Financing

Gibson Perez

Business Car Collateral Loan Car Financing Finance Truck Financing

Nov 25, 2020

Buying a new car in a series of equal payments doesn’t hurt your savings as much as compared to a one-time purchase. Pawning your car for quick cash is risky without caution. However, there are financial products from lenders that efficiently answer these needs. Find out about car collateral loans and car financing products through this article.

Car Collateral Loan

Car Collateral Loan is a quick cash lending without surrendering your car. Instead, the lenders accept the OR/CR or the car title as collateral, and so, it doesn’t deprive you of the convenience of traveling privately even with the cash granted to you. No worries over its terms – all your monthly dues will be indicated, so you expect what you ought to pay without hidden charges. If you don’t want to pawn more valuable properties such as your house, then this loan is for you.

However, Sangla OR/CR applies only to cars with the year model 2000 and above.

These are the documentary requirements you need to submit:

  • Duly accomplished Application Form
  • Official Receipt and Certificate of Registration (OR/CR)
  • Purchase Agreement
  • Picture of the Vehicle (should be the latest copy)
  • Proof of Income
  • Proof of TIN

Truck Mortgage

Truck Mortgage is a similar collateral loan that deals with trucks. Through your OR/CR, financing companies can grant you a loan without losing your trucks, thus not disrupting your business operations or heavy-road travels. Quick cash can be used for emergencies or personal needs. Like the car collateral loan, it comes with easy repayment plans and more personalized service.

What is more interesting is that Truck Mortgage accepts any year model of the heavy vehicle.

  • Duly accomplished Application Form
  • Official Receipt and Certificate of Registration (OR/CR)
  • Picture of the Vehicle (should be the latest copy)
  • Proof of Income
  • Proof of TIN

PUJ, PUV, and Taxi Loan

Vehicles used for public commutes such as PUJs, PUVs, and taxis are also eligible for loans as long as the borrowers meet the criteria and requirements. This is your opportunity to earn, so take advantage of easy payment terms by applying for PUJ/PUV/Taxi Loan.

  • Duly accomplished Application Form
  • Official Receipt and Certificate of Registration (OR/CR)
  • Picture of the Vehicle (should be the latest copy)
  • Proof of Income
  • Proof of TIN

Tricycle Loan

Tricycle Loan is a loan program that the public can easily afford. Financing services usually deal with four-wheeled vehicles (or more) such as cars and trucks, but this loan target a mode of commute that serves the locals in the communities. Whether your purchase is intended for public transport or personal use, this loan can help you.

Note that this loan only applies to these brands:

  • Honda
  • Kawasaki
  • Suzuki
  • Yamaha

Should you be interested in applying, these are the documents needed:

  • Copy of Official Receipt or Certificate of Registration (OR/CR)
  • Copy of Motorized Tricycle Operators Permit (MTOP)

Second-hand Car Financing

Second-hand Car Financing is the best route for those who want to own their dream car without splurging their well-earned money on one luxury. Many car buyers and owners have benefited from this type of financing because it has flexible terms and is practical. If driving a used car rings in your favor, then getting a loan for a second-hand car purchase grants you the travel convenience at a low-interest rate.

If interested, you may prepare these documents:

  • Duly accomplished Application Form
  • Official Receipt and Certificate of Registration (OR/CR)
  • Purchase Agreement
  • Picture of the Vehicle (should be the latest copy)
  • Proof of Income
  • Proof of TIN

Second-hand Truck Financing

Second-hand Truck Financing is the perfect opportunity for those people who are more interested in having heavy vehicles than cars. Lenders know the importance of trucks to your business or non-business purposes, allowing every size to finance. At an affordable interest rate, you will surely hold the wheel with pride, having no worries over as rocky, muddy, or flooded roads (and various driving conditions).

If interested, submit these documentary requirements:

  • Duly accomplished Application Form
  • Official Receipt and Certificate of Registration (OR/CR)
  • Purchase Agreement
  • Picture of the Vehicle (should be the latest copy)
  • Proof of Income
  • Proof of TIN

The following requirements may change depending on the loan provider you apply with. However, the processes are all the same. You get evaluated with your loan purpose and financial capability before getting approved for the proceeds. These loans, whether financing a vehicle purchase or using car titles for quick cash, are options to afford convenience without getting into large expenses and deplete your
funds.

For those who want to inquire more on the loan products, you may visit Global Dominion Financing Incorporated.