A car pawn loan Hamilton Ontario is an easy and quick way to get cash when there’s an emergency or you are faced with an unexpected expense. But as with any loan, it’s a good idea to pay it off early. You’ll save money on interest and it can help improve your credit standing. Here are some suggestions on how you can accomplish this:
4 Ways to Pay Off Your Loan Early
- Round out the payment amounts. Rounding out your scheduled payments to the nearest $10, $50, or $100 increments is a simple way of cutting down your loan amount. You won’t even realize how much your debt has gone down.
- Make a big payment once a year. This is another good way of getting your poor credit car loan to manageable levels. For example, put down a substantial payment once you receive your tax refund or company bonus.
- Never miss a payment. You should never, ever miss a payment. Not only will it ruin your schedule and make you fall behind, but you’ll also accrue penalties. This will lead to higher interests and more problems. Don’t forget that your car is at stake here. Missed payments could result in repossession.
- Try to pay more often. If you can negotiate a payment plan, opt for one where you can pay half the monthly fee every two weeks. For instance, if you’re paying $500 a month, try paying $250 every two weeks. It’s easier on your paycheck.
Lowest Interest Rates You Can Find
You can find great deals at 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 others and they can give you the money you need in a few hours. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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