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Applying for a fast loan Regina Saskatchewan isn’t as challenging and stressful as some people make it out to be. A few hours spent researching and talking to a loan expert will give you all the information you need to make the process go faster and smoother. Make sure you understand these terms as well. They’ll make your life easier:
Top Lending Terms Every Consumer Should Know
- Monthly Installment: While everyone knows the term refers to the amount you must pay every month, many are still confused as to how it’s computed. It’s based on the loan amount plus interest divided by the number of installments. If you have a fixed-rate loan, your monthly payment remains the same. Unless you incur penalties.
- Interest Rate: This is how the lending company makes money. It’s the percentage added to the loan amount. The interest rate is incorporated in the monthly payment. The interest rate you get depends on several factors, like your credit score, type of loan, and your location.
- Early Payment Penalty: Closing a loan early seems like a good idea. But many auto finance companies frown on the practice as it means they’ll earn less. Many lenders impose an early payout penalty to deter people from doing this. You can still pay off the loan before the contract ends. You just have to pay extra.
Trusted Car Loan Expert
You’re working with the best with Canada Car Cash. We specialize in title loans and can offer you more money than other lending companies. Our interest rates are guaranteed to be 70% lower than our competitors. We also offer flexible payment plans and extended loan terms. Sign up at our website or call our toll-free number at 1-844-598-7631.
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