If you're thinking of borrowing money to buy a car, boat, debt consolidation, home repairs, medical bills or anything else for that matter, here are some red hot tips to make the process much, much easier.
#1. Avoid unsecured loans if possible
#2. Be honest in loan applications
#3. Can't get a standard loan? There are alternatives
#4. Check your statements for errors
#5. Consider smaller lenders too
#6. Do you have to take out a personal loan at all?
#7. Do you qualify for a 'relationship discount'?
#8. Don't just take the dealer finance
#9. Don't make multiple applications
#10. Don't rely solely on comparison rates
#11. Have the right information when applying
- proof of current employment
- income details or tax returns
- balance sheet
- tax returns
- cash flow projections
- business plan