Bad Credit Auto Loan & Its Advantages

Have you ever thought of applying for  a car title loan but didn’t  go ahead  because you didn’t know much about the process or how it worked?  Please continue on for more information regarding bad credit auto loans, guaranteed you’ll feel much more confident and have a better understanding of these types of loans.  

Banks and many other funding sources want a  “good” credit score that justifies their approval for a  loan. A low credit score makes it obvious for these funding institutions to reject your loan application straight away due to the higher risk of not getting their money paid back. What can one do in such a case? The answer is to go for an auto title loan. No matter how quickly you need cash, this loan will definitely provide you the money you need quickly, based on the equity value of your car. So next time, if you have some credit card bills to look after or some medical expense to cater to, consider using  your vehicle title to get the money you need. Through this type of  loan you can get money the same day with minimal documentation and no credit checks. 

Loan Prerequisites

To get a vehicle title loan from us, you don’t have to go through a huge hassle of  paperwork. We make it easy for the borrower to get cash in a hurry.. We are all about lending the cash help when it is required the most. All you have to provide us for a bad credit auto loan are the following documents:

• A fully paid off vehicle (Car, Truck, Van, S.U.V, Motorcycle etc.)
• The vehicle must be less than 10 years old
• A clear title to the vehicle
• Collision and comprehensive insurance (in your name)
• Registration papers in your name 
• A valid Canadian driver’s license
• Proof of permanent residency
• A second set of vehicle keys that work on all doors including the engine

Advantages to Getting a Bad Credit Auto Loan

Many Canadians opt  for an auto title loan because they offer a lot of benefits.  Not only are they convenient and easy to get, they also let the borrower keep the vehicle and drive it around for the entire duration of  the loan. We provide  the most competitive interest rates that help the borrower make monthly payments that go as low as $97. 

No credit checks is one of  the biggest advantages for a person who needs money but can’t borrow because he has a poor credit score. Having a poor credit score  usually makes them  ineligible to borrow e money from traditional sources. We don’t do any type of credit checks. . People with low credit scores can also get a loan from us against the title papers of their car. This makes it possible for everyone out there who is in need of some emergency cash and has a fully paid off vehicle. We also lend out to people with no credit history as long as they meet the other loan requirements.

No credit history is required by us to loan the money to the borrower. It is a secured loan and credit history really doesn’t matter. So people who have dented credit reports or are still working on improving the credit history need not worry since we cater to all types of credit reports. We even lend money to people with no credit history.  

Same day approval is given to the bad credit auto loan cases which have submitted the complete application form and the supporting  documents. We don’t let the borrower go through the agony of waiting for days and or weeks just to verify if they are approved or not. 

No prepayment penalties are to be paid by the borrower if he wishes to pay out  the remaining loan before the maturity of the loan term. Who doesn’t love getting their money back quickly? If we get paid back earlier than the agreed loan term, we do not charge any penalties or fees for doing so. 

Keep your vehicle as we won’t store it for the whole duration of the loan term. As soon as the loan money is given to the borrower, they are  free to take the  vehicle and be on their way. Other lenders may keep the vehicle with them as security until the borrower returns the loan money in full  with interest. However, that’s not the case with us. We know and completely understand how important your vehicle is in today’s world and society. 

To know more and get your car inspected call (toll free) 1-866-973-5214 or apply online!

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