Industry experts have noted an increase in interest in title loans since last year. Because of the flagging economy and the shockingly high unemployment rates, consumers are turning to refinance car loan Kamloops British Columbia to get by. However, the rising demand for auto title loans has also resulted in an increase in probable scams. Here’s how to spot them:
Watch Out for These Signs
- Offer is Unbelievably Good: Loan specialists say if the offer sounds too good to be true, it most probably is. Do a ton of research about the lender. You should also be wary of unknown banks sending you an offer.
- The promise of 100% Approval Rates: A lot of online fast loan companies offer pre-approval or promises of swift approval. Be cautious of companies that guarantee approval without even doing a cursory check of your finances.
- Demands for Upfront Payment: Experts advise that you walk away from lenders that require you to pay fees in advance. While legitimate companies have application or origination fees, the payment will come from the loan.
- Lack of Company Details: This is a big red flag when it comes to loans. Legit financial institutions will have a physical address and numerous contact information shared on their website.
- Application of Pressure Tactics: Don’t bend to any pressure the company might apply. No legitimate company will force you to disclose personal information, like your credit card number or Social Security details.
The Number One in the Industry
Canada Car Cash is the company to call if you want to work with the best. The company specializes in title loans and offers more money than its competitors. They also have the lowest interest rates and monthly payments around. Sign up on their website or call their toll-free number at 1-844-598-7631.
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