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January 27, 2021Are you desperate to have your bathroom tiles replaced? Or maybe you’re short on rent money this month? There are many reasons for needing a quick loan. You can secure fast cash if you borrow using your car Surrey British Columbia. Its interest rates are lower than a credit card and your rating won’t suffer because of it. Unfortunately, there are still a lot of misconceptions about this loan. Here are three loan myths you shouldn’t pay attention to:
Auto Title Loan Myths Declassified
- You can’t use this fast loan for an emergency: This is one of the common misconceptions about title loans. Unlike bank loans that take weeks to process, this secured loan has a streamlined and fast application process. You can get approved in under an hour and receive the money on the same day too, making it perfect for emergencies.
- Title loans can only be used for specific reasons: Many prospective borrowers are surprised to learn that you can use this loan for any purpose. You can utilize it to pay your rent, buy groceries, expand your business or launch a company. Some people have even used it to go on vacation or a shopping spree.
- Borrowers are required to have a high credit score. This myth is likely fueled by the demands of conventional lenders that applicants have a positive credit rating. But title loans require a collateral to cover the loan. Because of this, the borrower’s credit score becomes irrelevant.
Trusted Car Loan Expert
Are you facing an emergency? Canadian Equity Loans will be there for you. This trusted lender can provide loans as high as $50,000. They also offer low interest rates and affordable monthly payments. They also accept early payouts with no penalties. Log on to their website to apply or call their toll-free.
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