It’s now very normal to apply for a loan online. Despite its popularity and acceptance, there are two main risks to borrowing money – losing money to a fraudulent company and paying too much. You want to make sure that you’re only dealing with a legitimate company when applying for car collateral loans Kelowna British Columbia.
Red Flags to Look for When Borrowing Money Online
It can be tricky but con artists do give themselves away. If an auto loan company has any of these red flags, it’s time to find a different lender:
- Asking for fees up-front: Legitimate lenders never take fees up front. The most they’d do is have borrowers pay for an appraisal or credit check for a housing loan. However, the “advance-fee scam” is a well-known ruse. Frauds would say you need to pay upfront for your application to be processed, but auto title loans don’t need any advance payment.
- Instructions to wire money. A lender asking you to send money via Western Union or other instant payment services is most definitely a scam. It’s hard to track who receive payments this way so it’s likely that once you send money, it’s gone.
- Unprofessional looking website. Nothing says fraud like a website that’s full of grammar mistakes and misspelled words. Be wary of sales staff that is rude and unprofessional. Crooks don’t really expend time and money on professional looking websites or training customer service personnel.
Faster Than the Competition
No other company is as reliable or trustworthy as Canada Car Cash. The company’s simple and easy process means applying will be a breeze. You can even get your cash within the hour and enjoy interest rates that are 70% lower than other competitors. Sign up on their website or call their toll-free number at 1-844-598-7631.
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