Specialized car equity loans Kelowna British Columbia have been around for decades. This secured loan has slowly but surely gained acceptance from millions of consumers. But there are still many people who have the wrong impression or information about title loans. This could be due to fake news or simply not researching the loan. Whatever the reason, you should know the truth about the following misconceptions:
Shining a Light on the Truth Auto Title Loans
- Applicants need a high credit score. Bank loans and other conventional lending companies do require borrowers to have a good credit score. But it’s not the case with title loans. Since there’s collateral, title loan companies don’t require a high credit score. You can apply even if you have an average to a poor rating. But it must be said a good score comes with a lot of benefits.
- It’s hard to pay off a title loan. It’s probably easier to repay a title loan company than a credit card company. Title loans have lower interest rates. You can even get a rate of 5% with the right lender. What’s more, auto finance lenders offer more payment channels and extended loan terms.
- You’re penalized for closing the loan early. It’s not entirely true. While there are lending companies that don’t allow early repayments, many lenders accept it. It’s why you should research a company. You should also verify this before you sign a contract.
Lowest Possible Payment in the Industry
Premier Loans Canada can give you the fast cash you need. We offer as much as $100,000 in loans. You don’t even have to worry about credit checks. Our company also has low-interest rates, low monthly payments, and flexible payment schemes. Log on to our website or call our toll-free number at 1-855-965-1650.
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