Car accidents are often traumatic events that can leave accident victims in terrible situations. After a serious car accident, you may have suffered injuries and face great financial difficulties. The long-term solution to your financial problems is likely going to be either an insurance claim or a personal injury lawsuit.
However, to cover your costs in the short term, a car accident loan in Oklahoma may be your best bet. At Silver Dollar Financial, we are dedicated to helping accident victims get back on their feet. We offer free loan applications, so don’t hesitate to get started today.
Expenses a Car Crash Loan Can Help With
A car accident is often accompanied by significant financial strain. After a collision, you may be dealing with expensive medical treatments as well as repair costs for your vehicle. You may also face lost wages if an injury keeps you from working. This could make it hard to cover your everyday expenses, such as:
- Housing costs
- Car payments
A car accident loan can help you cover all your financial obligations as you pursue fair compensation for your damages from the liable party.
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Who Can Receive a Car Accident Loan in Oklahoma?
Anyone who was the victim of a car accident where another party was at fault may be eligible to receive an Oklahoma car accident loan. Lending companies determine whether or not to grant car accident loans based on the strength of your case for compensation against the liable party.
Lenders do not care about your credit score when reviewing a car accident loan application. The focus is on the compensation claim because the lender is repaid directly from the money you receive from the responsible party. The lender wants to make sure you have a high chance of recovering money before approving your loan.
One of the best ways to improve your odds is to hire an experienced personal injury lawyer to help with your compensation claim.
The Car Accident Loan Application Process Is Easy
At Silver Dollar Financial, we have a streamlined application process that allows accident victims to apply for a loan in mere minutes. Simply fill out a form with some basic information about yourself and your case, and you will receive a decision in as few as 24 hours. If your application is approved, you could receive a loan of up to $100,000.
Is A Car Accident Loan Necessary in All Cases?
You may not need an Oklahoma car accident loan after a crash in all situations. For instance, if you were involved in a minor accident and were not injured, you can likely get by without having to take out a loan. Similarly, if you have a lot of money saved up for emergencies, you might be able to get by without a loan to help you through.
However, in most other cases, a car accident loan might be your best option for avoiding financial hardship after a collision. You can use your loan to cover your costs while waiting to receive compensation from the liable party.
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The Lending Company Will Take on All the Risk
Car accident loans are different from most other types of loans. With a car accident loan, there is never a risk of not being able to pay back the money you bothered. With other loans, if you can’t repay the lender, you could soon find yourself in an even worse situation than when you took out the loan in the first place.
However, because car accident loans are considered non-recourse, you never have to pay back the money you borrow unless you receive compensation from the at-fault party. The money you borrow is repaid directly from the compensation you receive. You never pay a single cent out of pocket.
Because of this setup, a lender is only going to approve your loan application if they feel confident that your case is strong enough to secure a victory.
Don’t Be Manipulated by an Insurance Company
Insurance companies will go to great lengths to minimize the amount of money they have to pay out after an accident. One of the tactics they use in this aim is to attempt to get accident victims to accept a settlement offer before they have a chance to hire an attorney.
The insurance companies know that the period immediately following an accident is when you are at your most vulnerable. You are likely still in a state of shock and are feeling overwhelmed by the costs of your medical treatment. They know there is a good chance they can convince you that the money they are offering will enable you to pay for your medical costs.
However, the truth is that the initial settlement offer is likely a fraction of the full value of your claim. While the money might be enough to cover the medical bills you have received so far, it will probably not come anywhere near covering your long-term costs. By taking the deal, you will be painting yourself into a corner as you will be unable to pursue further compensation.
A car accident loan in Oklahoma can be the perfect alternative. With your loan, you can cover all your pressing financial obligations without forfeiting your future. You will still be able to pursue fair compensation from the liable party and alleviate the stress of financial hardship.
You Can Apply for an Oklahoma Car Accident Loan for Free
At Silver Dollar Financial, we are focused on getting accident victims the money they need to help them through this difficult period. If you have suffered from a car accident, reach out to us to apply for a car accident loan in Oklahoma for free. Give us a call or fill out our online application to get started today.