There’s no telling when we need additional cash, whether it’s due to an emergency, an unexpected bill, or simply wanting extra pocket money before going on a trip. Bad credit loans Regina Saskatchewan, are a good option in these situations. But before you sign up, you should be aware of the pros and cons of getting one.
Top Benefits and Drawbacks of Auto Title Loans
Title loans have become one of the most popular short-term loans for several reasons. First, it’s so easy to qualify for this loan. You only need a lien-free and clean title of car ownership, government-issued IDs, and proof of residence and income. Your credit score isn’t a big factor as well because of the collateral. Another reason is the loan’s easy application process, which can be done online. Car equity lending companies are also known for their fast approvals. You can get your loan approved and the money received in less than 24 hours.
Despite all its good attributes, title loans do several disadvantages. One of these is the high-interest rates. This depends on the lender’s policy and where you live. Some states have a cap on interests while others do not. Do your research and shop for the company with the most reasonable rates. Another drawback to title loans is a repossession. Missing payments or defaulting altogether will result in your car being pulled out by the lender and sold to cover the loan.
Trusted Car Loan Expert
Enjoy all the benefits a title loan provides with Canada Car Cash. This trusted lending company specializes in title loans and can offer more money than its competitors. Their interest rates are some of the lowest around and their monthly payments are affordable. You don’t even have to worry about credit checks. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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