Facts Newbie Borrowers Should Know About Specialized Car Equity Loans Belleville Ontario

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People will always turn to their families or friends first when they need some financial help. But it’s not always a feasible move. They could be struggling too. Luckily, there are several short-term loans you can consider. Millions have already opted to get specialized car equity loans Belleville Ontario. If you’re a first-time borrower, here is what you need to know about this loan: 

3 Facts Every Auto Title Loan Borrower Should Know 

  • You’ll need good collateral. Title loans are secured loans. It means you need to use an asset to secure this loan, like your car. You’ll surrender your car’s title to the lender. They’ll hold on to it while the contract is active. You’ll get it back once the loan is closed. 
  • Payments are done in installments. This is a short-term loan. It usually has a 30-day payment period. But you can also opt for 12 to 24 installments or more.
  • You can only borrow a limited amount. How much you can borrow depends on your car equity. It’s why you should use high-value collateral that’s lien-free. The lending company will assess it first. This will determine their offer. Newer model cars and those that are well-maintained can get you more money.

The Number One in the Industry 

Premier Loans Canada can help you with your financial needs. You can borrow as much as $45,000. We are one of the country’s most trusted lenders. We offer low-interest rates and affordable monthly payments. We also have flexible payment plans. We also release the money you need on the same day you applied. Log on to our website or call our toll-free number at 1-855-965-1650.

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