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Loans have become even more crucial these past few months. With the pandemic resulting in millions in job loss or reduced work hours and profits, it’s no wonder people are turning to banks and other lending institutions. Unfortunately, loans have become harder to come by too. The only exception is minimum credit score loans Edmonton Alberta. They’re also the best choice during emergencies. Here’s why:
3 Reasons Auto Title Loans are Ideal for Emergencies
- Both the lender and borrower are protected. Title loans are called secured loans because there’s a collateral. Your car equity will be utilized to cover the loan. This reduces the risk between the two parties. If the worst-case scenario happens, the vehicle will be used to pay back the loan.
- There’s a chance of getting a substantial loan. The collateral also influences how much the lending company will be willing to invest in the borrower. The amount will be determined by the car’s value, and only after it has been inspected by the lender. If you have a well-maintained and relatively new car, you can borrow as much as $50,000.
- You can choose the payment plan that’s best for you. A lot of lenders can offer flexible payment plans to their clients. You can decide on the duration of the loan and how many installment payments you want.
Lowest Possible Payment in the Industry | Credit Score Loans Edmonton
If you need money quickly, Canada Car Cash is the company to call. This title loan specialist offers a percentage of your car’s value. Their interest rates are 70% lower than other lenders and they offer extended loan terms. Their quick approval process means you can get the funds within 24 hours while keeping your car with you. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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