You have a lot of options open to you when it comes to getting a title loan. There are literally thousands of lending companies offering this kind of loan. Of course, every lender has its own set of requirements, terms, and conditions. Here’s a set of criteria you should consider before making a decision regarding an auto loan Ottawa Ontario.
3 Criteria When Choosing a Title Loan
- Interest Rates: This will affect your loan significantly as it determines how much you’ll end up paying. In some instances, it might even sway you with regards to the duration of the loan. The interest rate changes based on whether you’re applying for an unsecured or secured loan. The former has higher rates while the latter demands collateral.
- Loan Fees and Other Charges: You want a car pawn loan that strikes a good balance between the interests being charged versus the other fees. Choose a company that’s transparent about the fees you have to pay.
- Repayment Charges: The lender’s policy on advance repayment also impacts your loan duration. Some companies are flexible and will allow for early repayment. This means you can pay off your loan faster if you have extra money. But some lenders don’t allow this so you’re stuck paying the loan off for years.
Lowest Interest Rates You Can Find
No other company comes close to Canadian Equity Loans. The company offers borrowers loans up to $50,000. They also have the lowest interest rates in the industry as well as affordable monthly payments. You don’t even have to worry about having a poor credit score or being able to submit employment documents. Applying is so easy. Simply log on to their website or call their toll-free number at 1-844-586-6311.
For more information, visit us on: