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Retirement comes with many benefits. You don’t have to deal with work stress and you have more time to spend on yourself and your family. Of course, there are negatives as well. The lack of a salary is the most obvious. It also makes people wary about getting a loan since it’s harder to qualify for one. But there are many ways to borrow fast cash Kingston Ontario while you’re enjoying your retirement.
3 Best Ways for Retirees to Borrow Money
- Use your home. You can still apply for a mortgage loan even if you’ve retired. But you can convince the bank if you have money coming in monthly. Another option is to use your home as collateral and apply for a secured loan. You should have at least 15% to 20% home equity to qualify though.
- Borrow using your car. A title loan is another secured loan that’s ideal for retirees and those with low credit scores. You’ll be pledging your car as collateral and its value will determine how much you can borrow. Your car stays with you but you’ll have to surrender the title to the lender.
- Look for the line of credit options. Retirees can also get loans that don’t put any of their existing assets at risk. You can opt for loans from banks, credit unions, and peer-to-peer loans.
Same Day Cash
Canada Car Cash is the perfect option when you need a flexible and fast loan. We specialize in title loans and offer more money than other lenders. Our interest rates are 70% lower than our competitors. We also have the lowest monthly payments around. Log on to our website to apply or call our toll-free number at 1-844-598-7631.
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