Tag: car loan

One of the consequences of missing payments or defaulting on your car pawn loan Etobicoke Ontario is a repossession. Lenders do have the right to take your vehicle to pay off the investment they made on you. There’s no question that you don’t want this to happen to you. So what can you do to avoid it?

How to Keep the Repo Company Away

Experts will tell you that the best way to ensure that the company tasked to repossess your vehicle stays away from you is to prevent the process from happening in the first place. After all, repossessions are expensive and it can stay in your credit report for years. It could even pull down your score.

The repo company has the right to pull out your car anytime and anywhere. They don’t even need to notify so. But how long does it take before your vehicle is in danger of being repossessed? That will depend on your payment history. If you have been consistent in paying your car loan, the lender might give you a little more time to settle your obligation. But if you’ve already been late several times, you might soon find yourself without a car.

There are several avenues open to you if you’re having problems. The most important thing is to come clean with your lender and discuss your situation. Most companies are willing to discuss alternatives. You can also opt for selling the vehicle to pay off the loan, getting another job, pawning valuables or borrowing money from family or friends.

Lowest Interest Rates in the Industry

Canadian Equity Loans is committed to helping people. It’s why they offer loans up to $50,000, have low-interest rates and affordable monthly payments. They also don’t bother with credit checks or job requirements. Log on to their website to apply online or call their toll-free number at 1-844-586-6311.

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An auto title loan might seem to be the best option for people who are short on cash and own a car. While it’s true that this type of loan is the quickest way to secure money, it’s best that you exhaust all your options first. After all, there might be another emergency down the road wherein you need to get cash using your vehicle Regina Saskatchewan.

Alternatives to Car Pawn Loans

Don’t use a title loan as a crutch for your cash needs. Consider these alternatives first before taking out a car loan:

• Ask your creditor for an extension. Try asking your creditor for extra time. Creditors are willing to work with you and can give an extension if they understand that your situation is temporary and that you’re acting in good faith.

• Be open to negotiations. Talk to your credit card company and try to hammer out a solution that will help you pay off your debt. Some banks are even willing to accept a settlement option.

• Check your tax refund. One study showed that about 21% of borrowers were able to pay off their loan with their tax refund. So file early and check if you’re entitled to a refund. You could receive a check in two weeks.

• Use your credit card. This can be a cheaper option in the long run. Credit cards have lower interest rates than most conventional loans. Plus, you won’t have to pay interest if you pay off the balance.

The Best in the Industry

Canadian Equity Loans are here to lend a helping hand. You can borrow as much as $50,000 without worrying about your credit score and history. Plus, you get to keep your car during the loan period. Log on to their website and apply for a loan today. You can also 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

Google Plus: https://plus.google.com/111672227236884542997/posts