Applying for a Collateral Vehicle Title Loan through Bad Credit Car Loans West Vancouver British Columbia

Applying for a collateral vehicle title loan will always get you the quick cash you need for those financial emergencies.

Collateral vehicle title loans use a borrower’s fully owned car and car title as collateral. This is a secured type of loan since the loan and the car’s true market value is secured by the collateral. It is also a secured loan since no credit checks need to be done.

Secured Loans = Lowest Interest Rates

Secured collateral car title loans always carry the lowest interest rates. Because the loan is already secured by the collateral, interest rates are kept low. Up to 70 percent lower interest rate can be offered against the closest competitor.

Secured by the collateral

A collateral vehicle title loan is simply secured by the collateral which is the borrower’s fully owned car and its car title. Typically, the lender puts a lien on the title until the loan is fully repaid. Once the consumer repays the loan, the lien is lifted and the consumer receives the title back. Loan payment terms are usually from 2 years and adjustable up to 5 years.

The terms and conditions of the loan

The lender simply needs to inspect and appraise the car for its true market value to determine the loan amount. Up to $50,000 can be borrowed based on this. The borrower then needs to have the car title inspected to make sure it’s lien free. The borrower then only needs to show a valid driver’s license and proof of permanent residence. The loan will then be approved in just one hour.

No other alternatives to no credit checks

Other loans like short term loans and unsecured bank loans will never approve a loan if you have bad credit or no credit. With no credit check title loans no credit checks are done by the lenders. This is because the loan is already secured by the collateral.

At Instant Loans Canada, we loan you money based on the value of your vehicle, not your credit score. That means that you have fast access to cash whether you have bad credit or no credit at all. Call Instant Loans Canada toll free at 1-866-973-5214 and apply now or apply online. You’ll speak with a member of our dedicated team and see how Instant Loans Canada can help.