Quick loan for car repair.

Your auto repair credit doesn’t have to be “dispoteuer” so you can have the money quickly. Regular online installment credit can provide the necessary liquidity to pay bills within 48 hours.

In the first part, we will show you exactly how it works, how you can recognize quick installment loans at a glance. In the second part, you will learn how you do not have to stand empty-handed at the repair desk if your credit rating is poor.

Auto Repair Loan – Fast Regular Installment Loan

Auto Repair Loan - Fast Regular Installment Loan

With quick credit for car repairs, consumers can no longer count on their disposition alone. Since 2014, the modern ID check has literally given “spurs” to the online installment loan. The desired loan is applied for via a free credit comparison. Loan providers who are serious about quick installment loans can be recognized at first glance. They allow Videoident for ID verification.

Most consumers even have everything they need for this new process of identity verification and legally binding application with them. ID and a smartphone for video telephony via Social media are required. The loan application itself is no different from the conventional online application. Only the option ID verification by video identifier would have to be ticked and the Social media name entered.

As soon as you send the non-binding preliminary credit inquiry and the automatic credit approval, everything happens very quickly. An employee of the bank or an external testing company calls via Social media within a maximum of 30 minutes. He examines the ID card and the requested documents and does screen shoots. He then transmits the data to the loan officer and confirms the legally binding loan application.

Credit check and loan disbursement – fast installment loan

Credit check and loan disbursement - fast installment loan

Depending on the organizational process at the requested bank, the legally binding credit check can start immediately. The fast credit decision is made almost exclusively by the computer in modern online credit scoring. If the score shows sufficient creditworthiness for the lending, the income information was also not “flickered”, it continues automatically.

If the test program gives the green light, the “electronic fast lane” continues immediately. The software sets up the internal credit account. The Credit bureau notification of the credit approval is issued at the same time. With most providers, the credit confirmation is printed out (letter post) and also sent by email. The money is ready to be paid out the next time you make a booking.

There will be approximately 48 hours between online loan application and payment if there are no problems. Online credit is only slow today if the score does not prove beyond doubt the sufficient creditworthiness for lending. In this case, the clerk must review the application. He then requests either additional evidence for further examinations or additional collateral for lending.

This would of course be more than annoying when it comes to car repair loans. The workshop is usually only handed over by the workshop when the repair invoice has been paid. If the personal overdraft facility is not sufficient for payment, quick settlement of the invoice does not have to be dispensed with. Credit despite poor creditworthiness with payment in 24 hours makes it possible.

Loan paid in 24 hours – microcredit for emergencies

A tight household budget, an exhausted dispo, the car has to go to the repair shop – Murphy’s Law affects everyone. “Anything that can go wrong will go wrong.” In this case, only Plan B can offer quick credit for auto repair. The currently largest provider of quick mini-credit in an emergency would be Great Bank from Berlin. The company’s business model is quick loans from 100 USD to 3000 USD with a short term.

For the first application, Great Bank limits its loan offer to a maximum of USD 500 with a 30-day term. The interest rate level for the fast loan is, at 13.90 percent effective annual interest rate, at the discount level. The advantage of the short-term loan is the comparatively simple proof of sufficient creditworthiness for lending. The loan for the car repair is applied for via Great Bank, like any fast online loan, via video ID.

Proof of at least 500 USD of regular net income must be provided. A negative Credit bureau does not have to be an absolute reason for rejection. The individual case is checked, but at a rapid pace. According to the company, it is even possible to receive payment on the checking account for the initial loan within a few hours. However, it is not only the fast loan payment that decides, but also the time of booking. 24 hours are more realistic for planning.

Personal loan – finance the car repair at low interest

Personal loan - finance the car repair at low interest

Obtaining reputable, low-interest installment loans is not a privilege of regular bank loans. Private donors use the Best Lender and Good Finance portals to invest capital from private to private lending. Since savings books no longer pay interest, the “savings egg” loses purchasing power, the offer with particularly low-interest loans has boomed.

Applying for a car repair loan via the portals is almost as easy as applying for a regular online loan. Private lenders pay particular attention to the description of the loan request. It should be free of spelling errors, seriously outline the problem and create trust.

Trust in lending creates honesty, the reliable evidence of secure repayment ability and the activation of free certificates. In order to apply for the car repair loan on Best Lender, a regular income of 800 USD per month is sufficient.