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Car Loans Canada – Where To Find One
Each month all the major search engines; Google, Bing and Yahoo get thousands upon thousands of searches for the term car loans Canada. In this post we’re going to answer the questions you may have about getting a no credit check loan and point you in the right direction.
Now, when it comes to people looking for a car loans Canada has the highest amount of applicants less than good credit and they feel that fair or bad credit would be an impediment to securing a loan. This is both true and false.
While it’s true that no conventional bank will consider helping you with a loan if your credit score isn’t good to great, that doesn’t mean that you’ve run out of options (which many consumers with bad credit feel is their sort).
What we should start with covering are some of the hazards that searching for a car loans Canada faces a serious problem by way of payday loans. The people we are talking about right now are payday lenders. If you live in any town with a population over 30,000 and listen to an average amount of media, you’ve no doubt heard of payday loans.
You might even have considered using them.
There are some very solid reasons, however, why you should avoid them like the plague. You see, payday lenders have only one goal – to make the maximum amount of profit from not-so large loans.
Remember the creed of basically every single casino on the planet? “The house always wins”.
Payday lenders see their relationship with their customers as adversarial. What that means is, they view you as either an enemy, suspect or a mark, but not as a client and certainly not as a friend.
They consider you a risk to their business (despite choosing to get into that very business) and with that viewpoint in mind, they focus on having only a one-time relationship where they take advantage of you to the max because they don’t believe they’ll ever do business with you again.
Sure payday lenders will pretty much all offer you car loans, but the cost is astronomical. And we’re not exaggerating when using the term ‘astronomical’.
Taking out a $500 payday loan can result in a cost of up to $1500!! So then, how do they pull that off? How do payday lenders get you to pay as much as three times to principal? They put you in a situation where you simply won’t be able to meet the conditions of their no credit check loan.
Everyone has expenses to meet each month – rent, car insurance, food. The longer we pay these expenses with the same level of income, the more we grow accustomed to having a set amount of money to deal with them.
The Best Car Loans Canada Has To Offer
So then what happens if you take out a payday personal loan with the promise off repayment on from your next pay cheque, plus the interest, and you still have to pay for your regular expenses? You automatically default on the loan and start having to pay hefty penalties.
At LoanAway, we do not offer no credit check loans, BUT – we do welcome customers with bad credit and you’d probably be surprised at how many bad credit loans we happen to approve each day.
You don’t have to feel ashamed or worried about having less than good credit when you come to us. We understand that life happens and that you need a hand. We offer far more reasonable interest rates than payday lenders, and best of all, we allow up to 36 months for repayment.
If you need more information, contact us online or call one of our specialists: (866) 689-0091
WHERE WE OPERATE
We are committed to provide best customer experience possible. Currently we offer personal term loans in Ontario, Alberta and Newfoundland, but do check back with us soon, as we are working on expanding our reach to other provinces and territories.