Just do a little research on any comparator to see that it is not. While there are a large number of entities dedicated to loans with Lite Lender Company, there are also financial companies that offer much more conservative loans.
Therefore, the good news is that you can choose freely. So you can make it better informed, here we will present the main differences.
How are loans with Lite Lender Company
The vast majority of loans with Lite Lender Company can be divided into three categories:
- Fast credits
- Loans with the car as collateral
The best known are the first and in many comparators, they are the only ones you can find. This is not the case with CreditVote, for example, which has providers in all three categories.
If we talk exclusively about fast loans, their characteristics are:
- Limited amount of money, usually between $ 300 and $ 1,000.
- Deadline limited to about 30 days.
- Very high interest, generally with TAES higher than 2,000%.
- Very easy to get.
- Fast processing without paperwork.
The other two options, putting the car or a home as collateral, usually offer the opportunity to get much lower interest.
In the case of loans with the car as collateral
The financier will have to assess it, while in the case of the mortgage, in addition to an appraisal, it will be necessary to go to a notary. Therefore, they are less fast options, but that does not mean that they are slow. Today, these loans can be fully processed in a few days.
In all cases, financial companies tend to refuse to finance the consumer if the debt registered in Lite Lender Company is too high. The level of “too much” depends on each one, but is usually around 1,000 to 3,000 euros.
Online loans in general
On the other hand we have online loans. Actually, nowadays saying loans online is almost like saying loans only, because there are countless entities that offer them and have similar characteristics to those you can get in your bank office.
Some of the categories that can be applied to these types of loans are:
- Of consumption
- For studies
- For reforms
- For the car
- For freelancers
- For business
- No guarantee
- Without payroll
As you can see, the versatility is huge. What do they all have in common?
That can be processed completely online
From the most general point of view, to request an online loan in Spain you need: the DNI, which will surely have to send a photo, be a bank account holder and be of legal age. Based on these three simple conditions, each entity and type of loan will require different requirements.
Regardless of the type of loan you need, it is important to compare the different options. As you have seen in this article, even in loans with Lite Lender Company that are reputed to be very expensive, the interests can vary greatly from one entity to another, especially if one of them allows you to put a property as collateral.