TORONTO, Feb. 18, 2015/ CNW/ – Because its beginning during the summertime of 2010, CTL Corp. (CTL) has funded over $100 million in vehicle loans; developing to be the largest privately-held finance business serving Canadas non-traditional customer credit market.
CTL is a Canadian-owned, across the country financial services company specializing in automobile loans for Canadians who can not obtain conventional bank funding.
What sets CTL apart from other finance companies is its stringent adherence to customer initially principles. CTLs Accountable LendingTM philosophy focusesconcentrates on the consumers requires, not wants. CTLs credit specialists examine each customers payment-to-income and debt service ratios; guaranteeing the regards to the loan, and regular monthly payments, fit the customers capability to pay. CTLs credit professionals are mindfulbeware to ensure the customer will certainly not be overextended economically, after handling the loan to purchase a vehicle. This practice increases the success for the consumer in meeting its financial responsibilities, eliminating undue tensions associated with taking on too much financial obligation.
CTLs Rate Decreasing Loan is a powerful brand-new financing alternative, and a market initially. CTLs Rate Reducing Loan allowsenables an interest rate reduction every twelve months, over the regard to the loan. Bringing development to an olden industry, our group established a financial contract that would reward consumers who were committed to satisfying their financial commitments, while strengthening their credit CTLs CEO Jeffrey Newhouse says, keeping in mind the loan agreement accelerates the principal and lowers the interest customers need to pay over the term of the loan. CTLs Rate Decreasing Loan helps construct customer commitment for our dealer partners, Newhouse states. For our valued dealers, what much better way to finance a consumers vehicle, than by offering a loan product that will lead to a decreasing interest rate. CTLs Rate Minimizing Loan will certainly alleviate the negative equity our dealership partners have to handle, on future trade-ins. In an age where banks are promoting longer term loans as a method of reducing monthly payments, CTL is practicing Liable Lending and the intro of its Rate Minimizing Loan is a practice that is advantages the customer and advantages the market as a whole.
When asked where CTL goes from right hereaway, Newhouse does not skip a beat. We are concentratedconcentrated on being Canadas ideally run auto finance business he states. Stemming over $100 million in loans in simply over 4 brief years is a remarkable achievement by our team, and a considerable turning point on our journey to end up being Canadas most responsible lender.
CTL Corp. is Canadas Vehicle Finance Company, providing versatile and creative funding solutions to Canadians. Because striking the marketplace in 2010, CTL has actually grown to be a leading non-bank finance company in the Canadian automobile market. Headquartered in Oakville, Ontario, our friendly group of professionals has more than HALF A CENTURY of collective financial management experience and is dedicated to helping consumers with even the most difficult credit. For more information, please see www.ctlcorp.ca.
SOURCE Canadian Title Loan Corporation