When people need access to money immediately, there are a few options available. A great option for many people is to use their paid-off vehicle to receive a loan. There are two primary loan options when using a vehicle for a collateral loan.
Here are some of the key differences to help decide which option may be best for different circumstances.
To help determine which option may be best for your circumstances, ask yourself the following:
1. How long do I need to borrow money for?
2. Do I need to drive my vehicle during the loan?
3. Do I want flexible and low payment options?
As car title loan experts for over 30 years, we believe many people would prefer car title loans. Our vehicle title loans allow people to borrow large sums of money based on the value of the vehicle. We offer lots of payment flexibility including low monthly payment options, no pre-payment penalties and the ability to pay off the loan faster or slower based on life’s circumstances. Borrowers can pay off their loans with us at any time during the term of the loan. The cost of borrowing is spread over long periods of time with our car title loans rather than one-month terms with most pawn loans. This helps borrowers with Canada Title Loan keep their monthly payments low and affordable. Car title loans are the best option for people who rely on their vehicles for work, family life and other important reasons, but also need access to additional funds.
Feel free to contact us anytime for any questions you may have, by clicking here.