A vehicle title loan is a godsend for people who either need cash quickly, have a bad credit rating, or both. The application is simple and approval is virtually guaranteed. However, that doesn’t mean that securing challenged credit auto loans Abbotsford Alberta is as straightforward as it seems. There are still things to consider and mistakes to avoid if you want to get a good deal.
3 Mistakes to Avoid When Applying for a Title Loan
- Not Checking Used Car Guides: The amount you can borrow depends partly on your car’s value. However, most people make the mistake of not checking the auto guides that determine a vehicle’s value and which lenders use. Knowing the proper value of your car will give you a hint as to how much money you can secure.
- Going to Only One Lender: Don’t sign up with the first lender you find. Do some research and talk to several lending companies. You can then compare their services and see which one fits your needs. It’s also a good idea to have multiple car pawn loan offers so you can pick the best one.
- Focusing Solely on the Monthly Price: A lot of borrowers would just look at the monthly payments and choose the lowest one. While this makes sense at first glance, it can blind you to the total price of the repayment, thus giving the lender the opportunity to hide extra fees. It’s better to break down what you’re paying for first.
Borrow More Money than Any Competitor Has to Offer
You don’t have to worry about making a mistake if you borrow from Canada Car Cash. Known as one of the most reliable lenders in the country, the company can loan you a percentage of your car’s total value. It also offers extended loan terms and very low interest rates. Log on to their website and apply online or call their toll-free number at 1-844-598-7631.
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