People who need immediate cash have three options – pawn a valuable, use their credit cards, or get a title loan. Pawning used to be the most popular option before since not everyone had credit cards. Now people are realizing that hassle free car loans Sherwood Park Alberta are the superior choice. Here’s why:
3 Best Reasons to Choose an Auto Title Loan
- Extended Payment Period: Car collateral loans and pawn loans are short-term financial assistance. Pawn shops typically give the borrower 30 days to pay back the loan. Some title loan specialists also give the same duration. However, most lenders also provide rollover extensions. Many companies even offer contracts that run for several years.
- Low Interest Rates: Vehicle title loans have lower interest rates than credit cards and pawn shops. Rates for title loans can go as low as 1.5 percent. Meanwhile, pawn shops and credit card providers usually levy a 25 percent interest.
- Collateral Stays with the Borrower: When you pawn your valuable, you will leave it at the pawn shop. That’s the standard practice. That’s not the case with title loans. You will only leave your car’s title with the lender. Your car remains with you. You can also keep using it even while the loan is active. The title will be returned to you once you pay off the loan.
The Best in the Industry
Canadian Equity Loans is simply the best choice when you need quick cash. You can borrow as much as $50,000 from this trusted lender. The company offers low interest rates and monthly payments. They also offer early payouts with zero penalties. You can even receive the cash you need on the same day. Sign up on their website or call their toll-free number at 1-844-586-6311.
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