Not all loans are created equal. Each loan is categorized based on its use or preferred client-based. Specialized car equity loans Nanaimo British Columbia, are geared towards borrowers with poor credit. There are other factors that make set these loans apart from conventional loans.
3 Features That Make Auto Title Loans Unique
- Credit scores are not a requirement for qualifying for a loan. Unlike its traditional counterpart, a title loan does not put a lot of weight on the borrower’s credit score. It’s because the collateral involved will be used as security for the loan. This minimizes the risk between the borrower and the lender. It also ensures that applications are processed quickly.
- Auto lending companies are usually locally owned. Most companies specializing in title loans are based locally. Because of this, lenders have more leeway with regards to the loan amount and interest rates. It’s why this loan is a favorite among small and medium-sized businesses.
- Interest rates are lower. This is one of the biggest benefits of bad credit no problem auto loans. Some lenders even offer rates as low as five to seven percent. To put that into perspective, it’s near the rate banks give borrowers with good credit scores.
The Number One in the Industry
Why waste time looking at other lenders when you can work with the best. One of the most reliable companies in the business, Premier Loans Canada can offer as much as $100,000 in loans. You can also avail of their low-interest rates, affordable monthly fees, and flexible payment plans. There are no credit or employment checks to deal with and you can even get the funds you need on the same day. Applying is so easy. You just log on to their website to apply. You can also call their toll-free number at 1-855-965-1650.
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