Welcome to the LHT Financial consumer financing page!
Here you will find an assortment of information and resources regarding consumer financing.
What are Some Popular Forms of Consumer Financing?
When consumers need access to funding in order to make a major purchase or investment, such as to fund the startup of a new business, then there are several options to chose from:
- • A Home equity loan- home owners can tap into the book value of their homes in order to get financing.
- • A Life settlement- In this case, the owners of a life insurance policy can use the policy as collateral on a loan.
- • Early withdrawals on retirement accounts- for those who have a Roth IRA or 401K account, it is possible to withdraw funds early before retirement in order to access financing. Consumers should check with the holders of their retirement accounts to make sure they are aware of any fees that may be incurred
- • A Secured bank loan- Those who have other assets, such as cars, boats, vacation homes, and jewlery, may be able to use these assets as collateral on a loan.
- • Peer-to-Peer lending- These small loans often come from friends or family, yet the rise of social networking has also opened up the market to strangers. In this case, consumers can access small, short-term loans to invest, make a purchase, or pay down debt.
What are Some Resources for Consumer Financing?