People facing an emergency, or an unexpected expense will find that minimum credit score loans Vancouver British Columbia are the fastest and easiest ways to secure extra cash. Like any other loan, title loans also come with a certain amount of risk. It’s why you should never apply for any loan without knowing what you’re getting yourself into. Fortunately, there are only three key details to remember about this loan.
Important Facts to Remember About Title Loans
- There’s collateral involved. It’s why these loans are considered secured loans. With title loans, you’ll have to put your car’s title up to the lender as a form of security. You’ll get it back once you have paid back the loan. While most lenders are fine with holding on to the title, some might ask for a set of keys. These should also be returned once your contract is finished.
- Your credit score doesn’t affect your loan. The lack of credit checks is one of the reasons behind this loan’s popularity. Since there’s collateral on the table, the applicant’s credit score or credit history becomes secondary. Lenders aren’t worried about the borrower being high risk or not since the vehicle will cover the loan.
- Expect high-interest rates. Bad credit auto loans can be quite expensive depending on the state. Most lenders will charge about 25% interest for a 30-day loan term. However, some companies do offer lower rates.
Borrow More Money Than Any Competitor has to Offer
Get the financial assistance you need quickly and efficiently with Canada Car Cash. The company offer loans higher than its competitors. Their interest rates are also70% lower than other lenders. They also offer low monthly fees and flexible payment plans. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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