There’s a vast difference between bank loans and challenged credit auto loans Cornwall Ontario. The former is ideal for major investments, like a house or car. Auto title loans are more suited for emergencies. But there are other reasons why people love this secured loan.
Cool Facts About Car Equity Loans
- You can get approved in less than an hour. Title loans have a fast application process. Since there’s collateral, the lender doesn’t need to make an in-depth study of your credit score or history. They can approve a loan within minutes. The funds will also be deposited in your account within the day.
- The loan amount can surprise you. Your loan will depend on the car equity. High-value collateral means more money. You can borrow up to $40,000 or more. Conversely, an old or poorly maintained car means you might be offered a thousand or less.
- The interest rates are lower than credit cards. It’s one of the reasons why this loan is popular. But your interest rate is contingent on several factors, like your location. Some states have a cap on interest rates and some do not.
- You can use any vehicle as collateral. While the standard car is often used, you can also put up your motorcycle, truck, or RV as collateral. Boats are also accepted by some lenders.
Trusted Car Loan Expert
Premier Loans Canada is the best choice when you need fast. We are one of the most trusted lenders in the country. You can borrow as much as $100,000 without undergoing a credit check. Our company also offers low-interest rates, affordable monthly payments, and flexible payment plans. Sign up on our website or call our toll-free number at 1-855-965-1650.
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