An auto title loan might seem to be the best option for people who are short on cash and own a car. While it’s true that this type of loan is the quickest way to secure money, it’s best that you exhaust all your options first. After all, there might be another emergency down the road wherein you need to get cash using your vehicle Regina Saskatchewan.
Alternatives to Car Pawn Loans
Don’t use a title loan as a crutch for your cash needs. Consider these alternatives first before taking out a car loan:
- Ask your creditor for an extension. Try asking your creditor for extra time. Creditors are willing to work with you and can give an extension if they understand that your situation is temporary and that you’re acting in good faith.
- Be open to negotiations. Talk to your credit card company and try to hammer out a solution that will help you pay off your debt. Some banks are even willing to accept a settlement option.
- Check your tax refund. One study showed that about 21% of borrowers were able to pay off their loan with their tax refund. So file early and check if you’re entitled to a refund. You could receive a check in two weeks.
- Use your credit card. This can be a cheaper option in the long run. Credit cards have lower interest rates than most conventional loans. Plus, you won’t have to pay interest if you pay off the balance.
The Best in the Industry
Canadian Equity Loans are here to lend a helping hand. You can borrow as much as $50,000 without worrying about your credit score and history. Plus, you get to keep your car during the loan period. Log on to their website and apply for a loan today. You can also call their toll-free number at 1-844-586-6311.
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