Learning Center

What are Secured Personal Loans

A secured personal loan is a loan backed by something of value that belongs to you, also known as collateral. Many types of assets can qualify as collateral, such as your car, boat, equipment or house. Because of the collateral, lenders take on less risk, and can therefore offer better rates or larger loan amounts on these types of loans.

Experience the best terms in the market with Secured Personal Loans from Alpine Finance Group

Are you looking to get a secured loan from Alpine Finance Group? With our personal secured loan, you will likely get more money at a lower APR and with more time to pay it off!

Our personal loans offer you fixed, affordable payments. Moreover, we always report to national credit bureaus to help boost your credit history.

Unsecured personal loans

What are unsecured personal loans?

Unlike secured personal loans, unsecured personal loans do not require you to pledge any collateral.  These types of loans can be used to sort out any kind of financial emergency. The lender does not have any control on how you spend the money.

Besides that, unsecured personal loans are more popular compared to short-term funding such as payday loans. This is because unsecured personal loans typically offer a larger amount as well as longer repayment periods.

Alpine Finance offers unsecured loans to individuals with bad credit

Since lenders do not have any collateral to hold on to in unsecured loans, traditionally, they only accept only those with outstanding credit scores. However, here at Alpine Finance Group, we go beyond this conventional approach, offering unsecured personal loans even for individuals with bad credit scores and seeking to fix it.

Here, the process of getting an unsecured loan is fast since there is no agreements related to collateral involved. We only focus on the employment status or a regular income source of the debtor and their ability as well as willingness to pay back the loan.

Moreover, our loans are paid back in multiple monthly installments that are aligned with your paydays, this way, you get enough time to get debt-free without diminishing your credit score or getting anxious about due dates.

What do you need to get an unsecured personal loan at Alpine Finance?

We go out on a limb for our customers and simply ignore their credit scores, especially when they are not so good. Instead, we consider the borrower’s ability to make the scheduled payments and the state laws that govern lending.

Therefore, with the least number of requirements, we give you access to an unsecured personal loan.

This is all you need:

  • A valid bank account statement
  • Income proof
  • Proof of legal age (must be 18 or older)
  • A valid government-issued ID (such as a Driver’s License)
  • Social Security Number

Now you know. Getting an unsecured personal loan online with Alpine Finance is simple, safe and competitive, right? Apply to secure your finance today!

Installment sale contract loans

There are many ways to finance a large purchase, for example, an Installment Sale Contract Loan.

An installment sales contract loan is a type of contract whereby the lender agrees to sell something to the borrower on credit. In return, the seller/lender receives payment of the value of the asset plus interest.

You can use an installment sales contract loan to purchase a wide range of assets, these include

  • Real estate
  • Vehicles
  • Equipment
  • A boat
  • Other large purchases

There are many benefits of this type of loan to the buyer/borrower, which include

  • You get to own and use whatever asset you want to purchase immediately
  • No need to apply for a mortgage or auto loan.
  • Bad credit history does not have any impact on your approval
  • You can take advantage of tax breaks associated with ownership
  • Expensive assets and capital investments become easier to take care of

How do installments sales contract work?

The borrower and the lender agree on the following:

  • The final price of the asset being sold (usually plus interest)
  • The payment terms – such as amount of monthly installments
  • Any down payment amount to be made
  • The interest rate charged by the lender

Once these conditions have been met, the two parties sign a legally binding agreement. In most cases, the buyer is required to pay a specified amount of down payment upfront. Thereafter, the buyer pays the balance in monthly installments until the whole amount is cleared.

You take equitable ownership and the lender keeps the legal ownership

Note that the buyer takes equitable ownership of the item bought as soon as both parties sign the contract and the buyer pays the down payment. In other words, you are able to take physical possession of the asset as soon as you make the down payment. As a result, the buyer becomes liable for any fees, taxes, licenses or maintenance costs for the purchased item.

At the same time, the seller retains the legal ownership of the asset and the final transfer happens only after the final installment has been paid. If the buyer defaults on the installments, the seller may take steps to take back the asset and the buyer will have to forfeit the installments that they have already paid.