Car finance for people with bad credit

Given some financial surprise, a possible way to obtain liquidity may sell or, give it to a finance company to grant us our vehicle financing. Finance Express, Credit for your car, Gedeso, Your car will endorse, Motorcash .... are some of the companies that offer these services.
What is it and how to get a loan pledging your vehicle?
It's pawn the car. Receive money in exchange for giving the car.
The mechanism is the same in every company: complete the online form, processing and delivery of money within hours at the nearest residence to our office. For processing, the customer must take the vehicle and company personnel inspects, what rate and offers a percentage of money on that appraisal, average talk about a 50 or 60%.
It requires that the vehicle does not have a history of more than 10 years, although some entities establish a scale according to which this term depends on the car model. For high-end models will peak within 10 years for simpler cars is reduced.
Another requirements demanded all share is that the customer is in possession of all necessary documentation properly regulated and enforced as well as ITV and technical specifications of the vehicle. Also the registration certificate, vehicle documents, instructions and documents proving ownership.
The vehicle must be unencumbered and without reservation of title, ie it must be paid for and owned by the applicant. And the keys must be submitted to the entity.

Car finance for people with bad credit
Some require the tank car and not others. This means that in some entities have to leave the car in the hands of the lender company until we get the money to repay the loan. Others however, allow the client to continue making use of your car; however, the first day of delay your car will be impounded.
Advantages and disadvantages of these loans in exchange for your car
When to weigh the pros and cons of these endeavors car seems to outweigh the disadvantages.
True, the car loan in exchange for a source of funding and that many companies are flexible, allowing the driver to use the vehicle until the maturity of the debt.
But perhaps only useful in times of dire need, they present high interest rates that can reach 20% and the repayment period is very short, between one and a half and three months usually.
In addition, the lender, having held the keys of the vehicle has power to keep it in case of delay or default. A customer has come to denounce his car parked in his house, disappeared the first day of delay, accusing the lender that you have installed in your car without his consent, a pager when it was inspected and appraised company.