It’s a fact of life that you would encounter situations where you will need money fast. Maybe a loved one has been rushed to the hospital or your son has a project for school. While you should ideally have some savings, it’s not easy building a nest egg. Fortunately, hassle free car loans Okotoks Alberta can help. However, there are important things you should always remember about this loan:
3 Critical Facts About Auto Title Loans
- They have a limited or fixed value. Your loan will depend on your car’s equity, but you will never be able to borrow near the amount of what you paid for your vehicle. Lenders are usually constrained to offering only 25% to 50% of the car’s total value.
- It’s a short-term loan. Most lending companies only offer a 30-day contract for car collateral loans. But don’t worry, you can always request an extension if you can’t repay back the loan on such a limited time. However, you will have to pay a penalty every time you extend your contract.
- There’s no fixed interest rate. Lending companies offer different interest rates for many reasons. Aside from their own processes, state legislation also has an impact. Some regions have an interest cap while others do not. In the latter’s case, a typical interest rate for title loans will be around 30% a month.
Same Day Cash
Canadian Equity Loans will always be there to help you. They can offer as much as $50,000 in loans to their clients. They also have the lowest interest rates around and accept earl payouts without penalties. You also don’t have to worry about credit checks or employment requirements. Applying is very easy too. You can sign up at their website or call their toll-free number at 1-844-586-6311.
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