Auto title loans are a good method of securing quick cash when you need it. Maybe your son needs new football shoes, or an unexpected bill depleted your grocery budget for the month. Qualifying and applying for this loan is easy. As with any type of loan, a car pawn loan Fredericton New Brunswick carries risks if you don’t make payments on time. Here are some things that might happen:
3 Things that Happen if You Miss Your Payment Due Date
- You’ll incur penalties. Missing your payment deadline would see the lender charging you a fee or your credit union levying a non-sufficient funds (NSF) fee if the money in your bank account isn’t enough to cover the month’s payment.
- You might be forced to roll-over the loan. Roll-over is the practice of extending your loan term when you can’t meet your due date. While it gives you a reprieve, you’ll also be paying a penalty and see an increase in your interest. This is on top of your outstanding loan balance, which means you’ll be deeper in debt.
- The lender could seize your car. Repossession is one of the biggest risks when getting a refinance car loan. Missed payments could prompt the lending company to have your car repossessed and sold off to recover their investments. You’ll then be without a car and, if the sale wasn’t enough, you would even have to pay off any remaining balance.
Lowest Interest Rates in the Industry
Get quick cash with Canadian Equity Loans. The company offers as much as $50,000 in loans without credit or employment checks. They have the lowest interest rates around and accept early payouts without penalties. You can even get the money you need in less than 24 hours. Sign up at their website or call their toll-free number at 1-844-586-6311.
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