Like bank loans or mortgages, a vehicle title loan isn’t exactly cheap. While it’s true a car pawn loan Halifax Nova Scotia, only asks a few requirements and has a swift turnaround, interest rates can reach the double digits. So you should make sure that you really need a loan and that this type of secured loan is perfect for your needs.
4 Situations a Title Loan is the Best Option
- You need cash immediately. A special financing auto loan can get you the money you need quickly. Some lenders can release the funds within the day or, if you’re lucky, in as little as half an hour.
- Your credit standing needs work. A poor credit score can hamper your chances of getting a bank loan. That’s not the case with a title loan as the majority of lenders won’t even check the borrower’s credit rating. The collateral offers are enough to minimize the risk to the lending company.
- You don’t have a bank account. While this is a requirement when applying for conventional loans, many auto lending firms are willing to go on faith and work with people who don’t have a bank account.
- You need a substantial short-term loan. With the right lender and high-equity collateral, you can borrow as much as $50,000. But bear in mind that this is the exception and not the rule. Loan amounts typically depend on where you live and your vehicle’s value.
Trusted Car Loan Expert
No other lending company is as trusted as Canada Car Cash. The company specializes in title loans and can lend you a percentage of your car’s value. Their interest rates are 70% lower than the competition and they offer affordable monthly payments. Log on to their website to apply or call 1-844-598-7631.
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