Before applying for 2 year bad credit loans, always check your finances and ensure you will be able to meet repayments. If you are struggling, then a 2 year bad credit loan may not be right for you.
It is important when considering any financial service that you understand everything presented to you. We are here to help. In this section, we introduce you to the concept of 2 year bad credit loans. We examine what they are, who they affect, who they suit & the considerations when applying for one.
We always advise here at Moolr that you plan fully before borrowing money, such as 2 year bad credit loans, or 18 month loans for bad credit. Borrow what you can afford to repay. Set out your financial commitments clearly. Plan ahead. Firstly, set up a simple spreadsheet (if you don’t have Excel, you can use Google Sheets, which is free). There are plenty of handy budget templates for Excel and Google sheets that are also free and will simplify your budgeting. In your spreadsheet, enter all of the things you spend money on, and all the money you earn – so in-comings and out-goings. The spreadsheet will do all the calculations for you, eradicating the possibility of errors.
Ensure you cover all your financial commitments. Include insurance payments, fuel, bills, food, rent or mortgages and more.
At Moolr, we pride ourselves on looking out for customers. We will not leave you without help or advice. We are here to guide you towards a better future, be it 2 year bad credit loans, 48 month loans or 1000 loan 24 months. Moolr lay out in clear terms what we can offer via our wealth of respectable lenders, and what it will cost you in total. There are no hidden charges or fees, so what you see is what you get. We are transparent and have a high level of customer satisfaction. We pride ourselves on that above all else.
On the Moolr site, we also offer plenty of advice and helpful tips on borrowing, our loan products and the finance world in general. For those that are accepted for a loan, we look to get the money to you quickly, so that you can get on with your life free of stress.
Picking a good lender is really important. That’s why we have gathered them all in one place, so that you do not miss out. Let us help you make the right decision today.If you are looking for a loan, give our loan calculator a go to see how much you can save right now.
Bank Loans: An obvious choice for many, and like any option, they come with advantages and disadvantages. Banks are a good source of finance, but their criteria may be very strict, especially in the current climate. This opens you to the risk of being declined, and that would show up on your credit report for a while too.
Credit Cards: A convenient choice, credit cards are very handy for ease of use and quick purchases. However, fail to pay off what you have spent, and you may be hit with crippling interest charges. With Moolr loans, be it a 24 month loan or a 12 month loan, you always know upfront what needs to be paid back.
Logbook Loans: If you own a vehicle outright you could go for a logbook loan. This is where the lender becomes the temporary owner of your vehicle until you pay back the loan. A lack of credit checks is one advantage. However, you obviously put the possession of your vehicle at severe risk should you miss any repayments. The amounts you could borrow will be limited too, linked to the value of your vehicle.
For more information on credit scores, and how they affect your 12 month loan application, visit our credit report page
At Moolr, we specialise with lenders who deal with those of us with a bad credit history. Therefore, we like to think we provide our customers with a real chance of rebuilding their credit score, by finding 2 year bad credit loans to suit any budget.
By choosing a 2 year bad credit loan, you give yourself the best chance of rebuilding your credit score, as you are making more payments towards your credit than an 18 month loan. Time flies, and once you have completed every monthly payment this will have a positive footprint on your credit score. Should you need further credit in the future, you have a better chance of obtaining it. Please remember though that missing a payment will have a bad impact potentially on your credit score.
2 year bad credit loans are an excellent way to spread the costs of borrowing. They carry a slightly lower risk to the lender than say, a 48 month loan, as there are fewer repayments to be made, and therefore a lower chance that you will miss one.
Applying through Moolr means that you are under no obligation to commit to our lender’s offer. As we also work with lenders that specialise in 2 year loans for bad credit, then we offer a great chance of rebuilding or enhancing an already good credit score.