Unpleasant situations can come into anyone’s life at any point of time. What makes them even more difficult to deal with, is that you can’t foresee or predict any of these scenarios. The best you can do in your ability is to keep yourself prepared. There are many people who have to go through hardships and in order to go through it they require considerable amount of money. Most people do not have the luxury of having an emergency fund by their side, so they have to consider getting a loan. This might sound quite simple that one needed money and he or she borrowed it but it’s not. Getting a loan approved is not that easy. You have to have a good credit score in order to be able to get the funds on a lower interest rate.
Don’t have the required credit score: use your vehicle to compensate:
You might have heard of the term Car pledge [รับจำนำรถกระบะ, which is the term in Thai]. When people do not have a well maintained credit score then they have to rely on other factors to get their loan approved. Using your vehicle as a security to the lender is the best way to get the loan on a lower interest rate. This way you can still get the loan and fulfill your needs without having the required credit score. Such loan is known to be as a secured loan.
Here’s how you can keep your credit score high by doing these simple things:
Keeping your credit score in check is not that big of a deal. It just requires you to pay your dues on time. Think of this number as showing your sincerity towards paying your bills on time. This is what a lender checks at the time of giving you a loan. This helps them to know if you can be trusted and can return their money with the charged interest.