Eskesen Berntsen posted an update
ServiceFinance, a division of Fleet Credit Union, is one of the leading providers of non-owner auto loans to people with poor credit. The services are financed by raising funds from the lenders and they pay all fees and charges, except the final loan amount. ServiceFinance offers finance to people with bad or poor credit, no collateral, bankruptcies, repossessions, foreclosures and other types of finance problems.
The main features of the service finance loans are that they require no documentation, low interest rates and a short repayment period. The service does not use credit reports and the borrowers have no right of appeal against the loan terms. They are unsecured in nature, and they also do not have to offer any security for the loan. The lenders accept application from anyone who wants a service finance loan. There is no need to provide security or prove income.
The application procedure is simple. There is an online application form for the service. Servicefinance offers a 30-day online calculator to determine the monthly payments, so there is no stress involved. The service will determine whether or not the loan is suited to your financial circumstances and then you will be approved without any hassle.
Servicefinance gives the borrowers the option of paying the service loan in installments or in a lump sum. The service will calculate the monthly installment amount and you can decide how much money you want to pay each month. The interest on the service loans is not tax deductible, and it cannot be deducted from the income tax. The only time the interest can be deducted is if the loan is repaid in full within the prescribed period of time.
Service finance loans are available for almost every type of vehicle. They also cater to personal cars, which are subject to special tax. You can choose the type of car, make and model and the interest rate. This makes the choice easier. If you choose a service finance car then you will get a good interest rate, low monthly payments and easy repayment terms. If you choose a regular vehicle, the interest rate will be higher.
Service finance can help you with financing the purchase of a new home, new car, appliances and furniture. It is the perfect way to finance an expensive item that you will not be able to buy with cash. Service finance charges a low service charge for its services and also has other payment options, which are attractive and convenient. The repayment terms are also favorable, as you will repay the amount in small monthly installments over a specified period of time.
Servicefinance will not damage your credit rating. It is very important that you manage your credit and service finance will help you do that. In fact, you can build a good credit history by using the loan proceeds to settle old debts and to buy more expensive items. Service finance charges very low rates, which means the monthly payments will be affordable. As the monthly installments are much lower than the ones required by a personal loan, the amount can be repaid easily.
You may want to opt for service finance if you want to keep your home. The amount you have to pay will be small and you can use the monthly repayments to reduce your house payments. Also, you will get tax breaks. Servicefinance offers a lot of benefits and makes life easier.
There are many advantages of service finance. For one, it has very little early repayment penalty. This means that you will not have to pay penalty fees if you repay your loan earlier than the specified term or agree to extend the term. Also, your lender will not check your credit record before approving your loan. This means that you will not have to spend time repairing any bad records.
However, there are some disadvantages of service finance too. One, the amount you get approved for is very small and you cannot borrow big amounts. Also, you might find it difficult to get low rate quotes because most lenders charge high rates. Also, if you need to borrow a large sum, you might have to take a high risk loan, which might put you at high risks.
All said and done, service finance is a great option for you to consolidate your debt and get financial assistance to meet your short term needs. However, you should be very careful in choosing a service provider. Only deal with the best service providers who can offer you the best rates and affordable repayment option. Also do not forget to check their client testimonials so as to make sure you are dealing with a reputable company. Finally, check with your state’s attorney general to make sure that you are not violating any laws regarding unsecured loans.