The popularity of title loans has led to thousands of online lending companies. While most lenders are trustworthy, there will be some bad apples among them. It’s imperative that you know how to avoid them when getting auto finance Markham Ontario. Here are some red flags you should be aware of:
3 Red Flags to Watch Out for When Looking for a Lending Company
- Companies that are not upfront about their interest rates. One critical aspect of any loan is the interest rates. They dictate whether the loan will be affordable or expensive. A trustworthy company will have this information on its website or will be relayed by the lending agent. If the company isn’t forthcoming with the information, look somewhere else.
- They demand insurance. Lending companies dabbling in something illegal make their profit off the exorbitant fees that levy on their clients. Many of these come from “insurance” they will require from the lender. It might be a scam if they require an insurance fee upfront before approving the loan.
- Lender promises guaranteed approval. No reliable company will guarantee 100% approval because there’s no such thing. Even if a special financing auto loan doesn’t depend on your credit score, a legitimate company will do some digging. They will not approve of a loan without at least looking into your background and capacity to repay the loan.
Lowest Possible Payment in the Industry
Premier Loans Canada is the company you’re looking for when it comes to financial assistance. You can borrow as much as $100,000 in loans and you don’t even have to worry about credit or employment checks. The company has the lowest interest rates around and offers flexible payment options. You can log on to their website to apply or call their toll-free number at 1-855-965-1650.
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