Can I pay my car loan early or at any time?

Debts are like a plague, which slowly grows until it becomes a threat. It is a financial situation with strong psychological impacts, which causes anguish and emotional conflicts both with the people around us and with ourselves. Some believe that they must submit to rigid terms and high interest rates to obtain the amount they need in exchange for their vehicle. This is because many car pawn companies operate this way. At Atlanta Title Loan, we are a reliable company and we make a difference, thanks to the flexibility of our services, which will help you avoid prolonging that annoying feeling.

Over-indebtedness: a common problem

Little financial culture and poor money management produces the conditions for over-indebtedness. There are many de-capitalized families, for having misused credits and car loans. This has caused many to prefer to avoid asking for financial help from banks or pawnshops. One of the main factors by which men and women lose capital is by improperly using the credits provided by financial institutions. From this, we can deduce that the average consumer presents some problem of anxiety and stress related to indebtedness. Fortunately, financial institutions are beginning to implement flexible solutions so that people do not get too indebted. One of them is liquidity or advance payments without penalty. 

Advance payments without penalty

If you plan to apply for car loans, you probably know that this type of financing generates a cost, known as “interest”, which is charged by pawnshops or other institutions in order to lend the amount. Depending on the entity you approach, besides the loan period and the amount, there will be some interest added to the amount. The loan most of the pawnshops offer last for thirteen payments every 28 days. During this period, the financial situation of people usually changes, so it is possible that during the term you will receive additional money.

Early liquidity without penalty is very simple since it happens as many times as necessary and at any time within the term. It considerably reduces interest and the term. Both are crucial factors for financial and mental health, since, at the end of the term of the car commitment, these resources can be used for other important aspects, such as savings or investment.

You get the perfect modality

This service applies to the two modalities that we offer: Backup and GPS. It is convenient for both, however, the benefits are more notable in the Backup modality, which entails leaving the vehicle in our warehouses until the debt is covered, because they can obtain up to 80% of the value of the car (as opposed to 50% GPS mode) and save a lot on interest.

However, it is important to meet some conditions. The main thing is not to have pending monthly payments and to be current with the payments. The option that we offer is very advantageous since there are some loan houses that make an additional charge for paying off before. With us, they only provide payment in advance and without having to go through any special process. Applying for a loan with us is not a cause for anguish and even our clients are grateful.