There used to be a time when people with financial problems will head to their local pawn shop with a valuable item to exchange it for cash. Now they have another option – an auto title loan. Some might even say that a poor credit car loan Markham Ontario is even better than pawning your possession. Here’s why:
Why You Should Choose a Title Loan
- More Substantial Loan: You can get more cash for car than from pawning jewelry. With title loans, you can borrow anywhere from 25% to 50% of your car’s equity. It can even go higher depending on the type of collateral and its condition.
- Longer Payment Period: You’ll also have more time to pay back this secured loan. Pawnshops will give you a maximum of six months to pay off the loan. Meanwhile, a title loan contract can range anywhere from 30 days to several years.
- Lower Interest Rate: The interest rates are lower for title loans as well. Pawnshops usually have a 25% rate while title lending companies can offer rates as low as 1.5%.
- Vehicle Remains in Use: Probably the best benefit of title loans is that you get to keep using your car. Lenders only require that you surrender the car’s title. The vehicle itself remains with the owner. You can continue to use it to get to work or for your business.
Trusted Car Loan Expert
Getting a loan is fast and easy with Canada Car Cash. The company specializes in title loans and can offer a percentage of your car’s value. Their interest rates are 70% lower than their competitors and they have affordable monthly payments. You don’t even have to undergo credit checks. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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