Auto title loans have become popular over the years. This secured loan requires that the borrower puts up their car as collateral. Its equity will cover the loan. The collateral is also the reason behind the loan’s four key features – few requirements, open credit scores, fast approval, and easy payment. Let’s focus on the last one and discuss your payment options for a car pawn loan Surrey British Columbia.
What Payment Plan is Open to You?
Car equity loan borrowers can get loans anywhere from $1,000 to $50,000. The usual contract terms for this loan is 15 to 30 days. But lenders have a rollover feature you can use if you can’t pay the loan. This allows you to extend your contract from several months to two years or more.
You can choose between two payment options – one-time payment or installment. If you choose the first option, you must repay the lender after one month. A one-time payment means you’re free from the loan immediately and won’t have to deal with monthly payments. Choose this plan if you’re sure you have money coming in, like a tax refund. Meanwhile, an installment payment plan sets an extended loan duration. This can last anywhere from six months to several years. Your monthly dues are lower but you might end up paying more interest in the long run. So choose your plan wisely.
Lowest Interest Rates in the Industry
Canadian Equity Loans can provide you with the funds you need. You can borrow as much as $50,000 without worrying about credit checks. We also have the lowest interest rates around. We offer affordable monthly payments and early payouts without penalties. Log on to our website or call our toll-free number at 1-844-586-6311.
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