1-877-804-2742
If you’re having a hard time making ends meet but need some quick cash, car pawn loans Canada might be the perfect solution. This financial service is a type of collateral loan, and it offers easy repayment terms and no hidden fees. It also has low APRs if you can’t pay on time. You could say that this service is worth looking into if you want to learn more about borrowing for something.
What are Car Pawn Loans?
A car pawn loan is when you borrow money using your vehicle as collateral. It can certainly help with someone’s financial issues if they’re struggling a bit and have bad credit or a lot of debt. If a person wants to get their loan paid off quickly, they can always pay on time or pay off early for the privilege of getting their car’s title back quickly. If not, they can accept the penalties for being late and weighing down the car’s value, thus lowering how much a dealer is willing to pay.
What is Included in Pawn Loan Service?
- The loan will require a detailed inspection of the car to assess its value, making sure the borrower is not lying about their vehicle.
- The loan will have an interest rate, but it will be as low as possible. If you pay on time and repay within your given timeframe or early, no-prepayment penalties are added to your loan amount.
- It can take just an hour after approval when it comes to financing.
- You are given ample time to pay back the car pawn loans, and you can get your car title as soon as your loan is paid off in full.
- You get a set amount of time to pay off the car pawn loan, but you can always ask for an extension from our loan advisors if you need more time.
- If you need any help paying off the loan, you can always work with a representative who will work with you on these issues. There are times when certain people have difficulty paying their bills and might be behind on other debts and their rent or mortgage payments.
- You can get car title loans in Nova Scotia, even if you have bad credit or a low credit score.
What are the Rates of Car Pawn Loans?
The rates for car pawn loans are usually about 30% APR, but this varies from company to company. If you don’t pay on time and wait until payment is due, you could be facing anywhere from 20% to 35% in penalties. With Car Title Loans Canada, you get the lowest interest rate, as low as 3% per month. Our loan terms are for 4 years, and no prepayment penalties.
What is the Process of Getting a Car Pawn Loan?
To get a loan through us, you can fill out the application on our website or apply by calling us. You will be asked for a few personal details and to provide some proof of identity and proof that you own your vehicle. If you have bad credit or haven’t had much credit in the past, we can help with bad credit car loans Ottawa. Your car is then inspected to determine its actual value and if there are any dents or scratches present on it. If this is the case, and the vehicle is not worth enough to get at least 4 percent of its value, then there won’t be a loan for you.
Conclusion:
Because this is such an easy step to take towards getting back on your feet financially, it can be a good option for you to consider. It’s worth looking into, especially if you’re having trouble with payments or your credit rating won’t get approved for a loan. You could say that this is a type of car collateral loans are worth looking into.
Car Title Loans Canada has been helping people get out of their financial situation using the car as collateral since 2004. Call us today at 1-877-804-2742.