If you are among the estimated one in four Americans who have had to take a pay cut or lost their job because of COVID-19, you may be considering your loan options. At DEXSTA, we have options from personal to auto loans to help get you and your family back on track during this difficult time.
Loans 101
Before applying for a loan, it’s always good to understand the basics. Loans 101 if you will. When it comes to interest rates, there are two types: fixed and variable. Fixed is, you guessed it, an unchangeable rate. Variable rates, however, “can change over time and are usually based on a standard market rate.”
Another big piece of the loan puzzle is the loan’s term. In other words, the “length of time that the borrower has to pay back the loan.” When you know this number, you can budget what is expected of you financially in terms of payback.
Also, consider if you are getting a secured or unsecured loan. A secured loan requires collateral for the borrower, whereas an unsecured loan does not. Lastly, do your research on whether you qualify for a loan or not. Things that can help to qualify are good credit, having co-signer, or even a letter of explanation.
Auto loans
The auto loan option at DEXSTA can help get you in a new car faster. For both new and used vehicles, “we finance up to 100% the retail value and can add more to your loan to cover taxes, tags, and service contracts.” Our indirect lending program means that you can apply for a loan through the dealership. Saving you time and hassle.
And even amidst the changes from COVID, you can make an in-person visit at one of our branches. Or apply for an auto loan online or by phone.
Home loans
We understand that home buying, selling, and the need for home loans are still relevant despite the global pandemic. We offer home loan options that range from our Platinum Home Equity Line, Home Equity Loans, and The Dream Loan for house improvement. Our loan officers are happy to help walk you through the process (virtually, of course) and get you on the way to owning or improving your dream house.
Personal loans
DEXSTA personal loans range from lifestyle, medical, pet care, and “whatever loans.” In these uncertain times, a personal loan may be more necessary than ever. We try to make the process as seamless as possible with all loans as “simple interest with no prepayment penalties.” Taking out a personal loan can often also be a better financial alternative to high-interest credit cards for long term borrowing.
Plus, you can apply online and potentially have the money in your account the same day.
Applying for a loan at DEXSTA
Getting a loan at DEXSTA can be as simple as applying online or speaking to a loan officer over the phone. At DEXSTA, we’re here to help you navigate financial changes and setbacks. Let’s get started.