Gone are the days when it was necessary to make an appointment with your local bank to discuss your financing options. These days, online loans are widely available and can be completed from the comfort of your own home. There are many lenders you can secure online financing through. So, let’s go through everything you should know about getting an online loan.
Here at Loantec, we are the experts in everything finance. We work to get you the lowest interest loans and the best finance available to you. What makes us different to other online options is our pre-qualification process. By filling in our pre-qualification form, our Finance Technicians will be able to assess your situation and find financing options to suit your needs without needing a formal application or impacting your credit file.
The Benefits of Online Loans
There are several reasons why getting an online loan has become the preferred option.
First of all, they’re simply easier and quicker to get done. The process can be completed quicker, especially with our pre-qualification form.
For most online loans, you simply need to fill in some basic details, supply the required documents and you’ll be set.
Once you’ve been approved, your funds are typically transferred into your bank account within 48 hours. Sometimes it’s even faster, with some going through on the same day!
You’ll be able to take care of the entire loan process over email in most cases. With only a few applications ever needing a phone call. Every step can be taken care of without ever needing to leave your home or walking into a bank.
Of course, there’s also the environmental impact. Just think about all the wasted paper that goes into getting a loan. First, you’d need to fill in the documents asking for the loan. Then print out paper copies of all your documents and bank statements. But, with online loans, you can just send it all through email. You’ll get your funds while also doing your part to reduce waste and save some trees.
The best part about online loans here at Loantec is that our unique pre-approval process doesn’t require a credit check. Our pre-qualification form gives us the information we need to let you know whether you’ll be approved before ever putting in a formal loan application.
With this, we’ll be able to tell you how much you can borrow and what your repayments will be. It’s only after we’ve found the best loan for your situation, that we’ll run a credit check and get final approval.
Some Warning Signs to Look Out For
When you’re looking through online loan options, there are some warning signs you should be aware of.
Large Late Payments & Additional Monthly Fees – When you apply for a loan, pay attention to the overdue payment fees and any additional costs. Short term loans (such as a few months or less) are notorious for having large late fees and charges on top of the interest rate.
High Interest Rates – One thing to look out for with cash loans and online loans is a high interest rate. When combined with late payment fees, these additional costs can really add up.
When you get your financing through Loantec, you can rest assured that you’ll receive the best loan available. Whether it’s the lowest interest rate on the market or avoiding late payment fees, we have access to a range of lenders and can ensure you get the best deal possible. Our Finance Technicians will analyse your situation and will let you know what your factual options are.
Choosing Options for Your Online Loan
Once we’ve worked out your factual options, it will be time to go over the various loan types you have access to. Our Finance Technicians will help you determine what type of loan best suits your circumstances. You might not know the intricacies between secured and unsecured personal loans or what the comparison rate is, but don’t worry. We’re here to guide you through the process from start to finish.
Once we’ve worked out your factual options, it will be time to go over the various loan types you have access to. Our Finance Technicians will help you determine what type of loan best suits your circumstances. You might not know the intricacies between secured and unsecured personal loans or what the comparison rate is, but don’t worry. We’re here to guide you through the process from start to finish.
How Loantec Can Get You the Best Online Loans
Online loans provide a fantastic way to get finance from the comfort of your living room. And here at Loantec, we make it as easy as possible. When you contact our team, we’ll analyse your circumstances and financial situation to find you the best deal available. Simply fill in our pre-qualification form and our Finance Technicians will be in touch to discuss how we can help you get the right financing today.