Auto title loans are designed to make borrowing money easier for those with emergencies or poor credit scores. Borrowers know it has fewer requirements and needs collateral. They also know its fast application process allows them to get the cash they need within the day. But there are other details you should know if you’re planning on getting a Bad Credit Car loans.
Key Information to Remember
- Shorter loan terms are better. Specialized Bad Credit Car Loans are typically short-term. Most lending companies offer 30-day terms, although these can be extended. The truncated duration works to your advantage as you’ll be paying less in the long run. Longer periods mean you’ll be paying more interest.
- Check your annual percentage rate. The APR refers to your interest rate for the whole year. Many borrowers choose a lender because of the alleged low monthly rate and later are shocked to realize it’s much higher than they expected. It’s best if you know your APR going in. It will help you make better decisions.
- Lenders will track your car. While you can keep using your car during the loan, the lender will need some way to track the collateral. Most will insist on having a GPS tracker installed. Some also use a system that automatically shuts down your car if you default on the loan.
Get You More Money Than the Competition
Do you need financial assistance? Canadian Equity Loans is glad to help. This respected company can provide Car Title Loans with as much as $100,000 in loans. We also offer low-interest rates and low monthly payments. We also allow early payouts with zero penalties. Log on to our website to apply or call our toll-free number at 1-844-586-6311.
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