Main Types of Minimum Credit Score Loans Norfolk Ontario Open to Borrowers

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Canadians can always rely on minimum credit score loans Norfolk Ontario to see them through emergencies and unexpected expenses. These secured loans are easy to qualify for and have a fast application process. Borrowers can also choose from two main types of title loans:

What Loan Should I Choose?

Auto title loans are considered secured loans because borrowers have to put up their car as collateral. Your car’s value will cover the loan, and you’ll be allotted ample time to repay the money. The type of title loan will also determine the pay period. You can either make one big payment or installments that can run for years.

As the name implies, solo payment loans require the borrower to settle the account with one major payment. This type usually has a contract duration of one month. It’s admittedly challenging so you should only choose this if you’re assured that you will receive a windfall before your payment deadline. Meanwhile, installment-type car collateral loans let you repay the lender over a period of six months to several years. You even have the option of asking for an extension. However, there will be extra charges every time you do this. Another drawback is the APR, which can reach 250%.

Lowest Interest Rates You Can Find

Do you have an emergency and need extra money? Premier Loans Canada is the company to call. You can borrow as much as $100,000 without worrying about credit checks. The company also offers low-interest rates and affordable monthly payments. Clients even have the option to choose the payment plan that’s most convenient for them. You can receive the money you need within the day and keep your car. Log on to their website to apply or call their toll-free number at 1-855-965-1650.

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