If you have bad credit, a cash loan can be an option that you might want to look into when you need to purchase a new car. An unsecured personal loan will give you money, but the lender will charge you very high interest, because it will force the person to pay their debt off quickly. If you are a lot in debt and it is bigger than all your assets combined, then having a loan with high interest will put the person in serious trouble. In fact, experts recommend that if the person has a lot of debt, then it would be wise to lower it and then get an auto cash loan. You don't want the interest to keep piling on your already large debt.
To get an unsecured personal loan, you would have to find banks who offer auto cash loans to people with bad credit. Not all banking institutions offer money to people with bad credit, because the risk factor would be very high. You can research other options, such as getting money from a credit union, or even from your employer. Compare the interest loan with other institutions and see if you are getting a good deal or not. You can also apply for a loan online by filling out their loan application. When you meet the lender, give them documents that show your credit rating, and a list of all your assets and capital. Your lender needs to know these things so they can fix an interest rate with you. Without these documents, the lender can make their own interest rate, and that would be disadvantageous to you.
