Are you desperate to have your bathroom tiles replaced? Or maybe you’re short on rent money this month? There are many reasons for needing a quick loan. You can secure fast cash if you borrow using your car Surrey British Columbia. Its interest rates are lower than a credit card and your rating won’t suffer because of it. Unfortunately, there are still a lot of misconceptions about this loan. Here are three loan myths you shouldn’t pay attention to:
Auto Title Loan Myths Declassified
- You can’t use this fast loan for an emergency: This is one of the common misconceptions about title loans. Unlike bank loans that take weeks to process, this secured loan has a streamlined and fast application process. You can get approved in under an hour and receive the money on the same day too, making it perfect for emergencies.
- Title loans can only be used for specific reasons: Many prospective borrowers are surprised to learn that you can use this loan for any purpose. You can utilize it to pay your rent, buy groceries, expand your business or launch a company. Some people have even used it to go on vacation or a shopping spree.
- Borrowers are required to have a high credit score. This myth is likely fueled by the demands of conventional lenders that applicants have a positive credit rating. But title loans require a collateral to cover the loan. Because of this, the borrower’s credit score becomes irrelevant.
Trusted Car Loan Expert
Are you facing an emergency? Canadian Equity Loans will be there for you. This trusted lender can provide loans as high as $50,000. They also offer low interest rates and affordable monthly payments. They also accept early payouts with no penalties. Log on to their website to apply or call their toll-free.
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Many people are surprised by how popular title loans are and the sheer number of people who avail of this secured loan. And while there are disadvantages, the benefits are still compelling enough to convince people to apply for this loan. Here’s why you should borrow using your car Surrey British Columbia.
5 Reasons to Get Cash for Your Car
- Minimal paperwork and fewer requirements. Unlike bank loans, title loans only require a few documents. You only have to present your car’s title, government-issued IDs, proof of residency, and proof of income if you’re applying for this loan.
- No credit checks involved. Most title lending companies do not check the applicant’s credit score or credit history. It’s because the collateral acts as security and covers the loan.
- Get cash fast. One of the most compelling arguments for title loans is you can get the cash you need within the day. If you’re lucky, you might even get it in an hour. The collateral is again responsible for this. It reduces the time spent on verifying information since the loan is already secure.
- Low-interest rates. Lenders can afford to offer low-interest rates because the collateral is providing some degree of protection for both the company and the applicant.
- Retain car ownership. You don’t have to give up your car for this fast loan. However, you would have to surrender the car’s title to the lender. It will be returned to you once the loan has been repaid.
Lowest Interest Rates in the Industry
Canadian Equity Loans can provide you with the financial help you need. The company can lend you as much as $50,000. They also offer low-interest rates and early payouts without penalties. You can even receive the cash you need within the hour. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
For more information, visit us on:
Facebook: https://www.facebook.com/Canadian-Equity-Loans-1521476258155998/?fref=ts
Twitter: https://twitter.com/CANEquityLoans
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Auto title loans might get a bad rap from some sectors, but there’s no denying that millions have already benefited from them. With the way the loan is constructed, even people with poor credit scores or are underemployed can apply. However, you can’t really tell how much you can borrow using your car Surrey British Columbia.
Factors That Affect How Much You Can Loan
Bad credit car loans are considered a secured loan because there’s collateral on the table. Your car, or more specifically its title, will act as security for both you and the lender. It also means that the loan amount will depend on two factors – the vehicle’s equity and the car’s overall condition. Having large equity on the car will help your odds of getting approved. It provides assurance that the loan is covered, and the lender will be able to get their investment back. Meanwhile, the car’s state is vital because it influences how quickly it can be sold in the event the borrower defaults on the loan.
The collateral will be inspected thoroughly before the lender decides how much they can logically lend to the applicant. The company will consider factors like the car’s age, model, mileage, the state of the exterior and interior, whether it has been involved in an accident, and any after-sales enhancements made.
Number One in the Industry
Enjoy substantial loans at low interest with Canadian Equity Loans. You can borrow as much as $50,000 in loans, and you don’t need to worry about credit checks or credit history. The company offers low-interest rates, flexible payment plans, and early repayment without penalties. Their fast approval process means you can even get the cash you need on the same day. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
For more information, visit us on:
Facebook: https://www.facebook.com/Canadian-Equity-Loans-1521476258155998/?fref=ts
Twitter: https://twitter.com/CANEquityLoans
