Looking for a way to get a vehicle for business and personal matters, yet you lack the funds to do so? Perhaps you want to have the option to pick a short loan term to make it more worthwhile? Value Penguin might have something for you. Check out their auto loan options that can make your dreams more accessible and affordable:
Value Penguin Auto Loan Features and Benefits
Whether you are looking at a brand-new vehicle or a used one, you can get one for yourself using this loan. Because the value of cars, especially old models, can fluctuate, you might want to get a shorter loan term. Value Penguin makes this option available for you. You can get a loan as short as 36 months or you can avail a 60-month term. This way, you can avoid getting into an upside-down situation, where your debt becomes greater than the current value of your car.
Getting a Value Penguin Auto Loan
Keep in mind that this offer is usually secured, so make sure you have something of value to use as security. Before you begin your application, you can make the process less stressful by preparing the required documents and checking the details in the ValuePenguin website. As with other loaners, you will need to provide personal information including age and residence. You also have to present proof of income, as well as your credit score.
For auto loans, Value Penguin outlines a list of accepted FICO score range. You are eligible for a loan if your credit score is within 500 to 850. However, remember that your score can affect the interest rate of the loan.
This offer allows loan amounts up to $100,000, payable within 2 to 7 years.
Value Penguin Auto Loan Fees and Charges
When you choose to get a Value Penguin Auto Loan, you can expect to get an average interest rate of 3.6 to 15.2%. This depends on the company’s evaluation of your credit score. If your rating falls within 500 to 589, you will be assigned a rate of 15.21% for a 36-month loan, whilst you will have a 15.24% rate for a 60-month one. The lowest rates Value Penguin has to offer is 3.54% (for a 36-month period) to 3.6% (for a 60-month period), and you are eligible for these low rates if you have a FICO score within 710 to 800.
Aside from the interest rate, you can also expect to pay origination fees. For this offer, the origination fee can range from 0% to above 2% of the loan amount. However, this depends on the state you are in, as well as the terms and the lender.
Having the ability to get the car of your dreams is one thing but getting assistance from a considerate lender is more important. With Value Penguin Auto Loan, you can get closer to having your hands on the best vehicle. Interested in availing this offer? Get in touch with them and start your application today.