People in the middle of a financial crisis have limited options to secure extra cash. Oftentimes the choices boil down to a payday loan or car collateral loans Dartmouth Nova Scotia. But determining which loan is best for your needs can be difficult. Here’s how title loans compare against pink slip loans and why they’re the better choice.
Why Title Loans are Better than Payday Loans
Title loans and payday loans have gained popularity because they’re easy to qualify for and they don’t demand strict credit checks. In fact, most title lending companies don’t even check the applicant’s credit score. But you do need to use your car’s title as collateral for title loans. Contracts for this secured loan usually last 30 days but you can negotiate for longer terms. Meanwhile, payday loans require borrowers to issue either a postdated check or access to their bank account. This is a short-term loan that requires payment to be made on the next payday.
No credit check car loans are a better option because you can get more money. Some lenders can even loan as much as $50,000 depending on the collateral. The interest rates are also lower since the collateral acts as security for both parties. What’s more, you can keep using your car even during the loan duration.
Get You More Money than the Competition
Get the best deals with Premier Loans Canada. One of the most respected lenders in the country, this company offers as much as $45,000 in loans. You can avail of low-interest rates and flexible payment options. There are also no credit or employment checks involved. The company’s fast approval ensures you get the cash you need on the same day. Log on to their website to apply or call their toll-free number at 1-855-965-1650.
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