The title loan is one of the best financial inventions today. Who knew you could easily get cash for car Ottawa Ontario? It’s true, and millions of people have already used this loan to great results. Despite that, many consumers are still wary about applying for this loan. This is in large part due to misinformation and false claims.
The Truth Behind TheseTitle Loan Misconceptions
- Myth #1: Applicants should have a high credit score. While an excellent credit rating is essential in conventional loans, it’s not a big issue in title loans. The borrower will pledge their car as collateral, and its value will cover the loan. It’s why pensioners, people on disability, the unemployed, and consumers with low credit scores can qualify and apply.
- Myth #2: You can’t pay more than the minimum. This is actually good practice when paying off a loan. Paying more than what’s asked will help you close the loan fast. But early payouts depend on the lender. Some companies allow it while others don’t. It’s why you should do your research.
- Myth #3: You’ll have to say goodbye to your car. This is one of the pervasive myths surrounding car collateral loans. But the truth is you only need to surrender your car’s title to the lender. They’ll return it to you once the loan is paid in full.
Lowest Interest Rates in the Industry
Premier Loans Canada offers amazing deals and affordable payments. You can borrow as much as $100,000 without worrying about credit checks. Our company is known for having low-interest rates and monthly payments. You can also choose the payment plan that’s best for you. Sign up on our website or call our toll-free number at 1-855-965-1650.
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