Auto title loans have helped millions of people get through emergencies or sudden expenses. Their streamlined application process has made it easier for people to secure much-needed cash. The challenge now is how to choose the right kind of special financing auto loan Richmond Hill Ontario for your specific need.
Types of Title Loans Available to You
As a secured loan, you are expected to surrender your car’s title to the lender in exchange for cash. You can choose from two kinds of title loans – installment and solo payment.
A clear favorite among consumers, the installment type of title loan lets the borrower set a specific number of payments based on the loan duration. Installment loans can be as short as six months and as long as 12 months or more. The borrower can also request an extension if they are having problems meeting the deadline. However, there will be a penalty for extending a car pawn loan. APR for installment type loans is about 250%.
Meanwhile, solo payment is more challenging. As the name implies, this kind of title loan lets the client settle their accounts with a lump. Choose this option only if you’re certain you have some money on the way. People who don’t want to spend years paying off a loan will find this type of ideal.
Same Day Cash
Canadian Equity Loans provide you with more options than other lenders. The company can provide as much as $50,000 in loans. They also offer low-interest rates around, flexible payment plans, and affordable monthly fees. You don’t even have to deal with credit checks or proof of employment. Applying is easy. Log on to their website and apply from the comfort of your own home. You can also call their toll-free number at 1-844-586-6311.
For more information, visit us on: