Bad Credit Car Loans Burnaby British Columbia is the Best Option for Emergencies

Taking out a collateral vehicle title loan if you need emergency cash is always the best option compared to unsecured or short term loans.

What if your bad credit keeps you from applying for unsecured or short term loans? The best solution for this is to apply for a collateral vehicle title loan and get your hands on some fast cash since no credit checks will be made.

Collateral vehicle title loans really works wonders

With collateral vehicle title loans, the lender thoroughly inspects and appraises the true market value of your car to determine the loan amount. The lender then holds on to your car’s title since a lien has to be placed on the title until the loan is fully repaid, after which the lien is lifted and the title is returned to the borrower.

Who is qualified to apply for collateral vehicle title loans?

Collateral car title loans are simply based on collateral that should be your fully owned car and its car title. The car title must also be lien free to qualify as collateral. So long as anyone with a valid driver’s license and proof of permanent residence fully owns a land vehicle with a clean vehicle title, they can apply for a collateral vehicle title loan. Even borrowers with bad credit or no credit qualify because their credit has no bearing on the loan approval.

The lowest interest rates

Unlike unsecured loans or short term loans with astronomical interest rates at very short payment terms, no credit check title loans have very low interest rates with reasonable payment terms. Up to 70 percent lower interest rate can be offered against the closest competitors out there. Loan payment terms are adjustable starting at 2 years and up to 5 years.

Other benefits from the loan

While paying off the loan the borrower continues to use the car since only the car title is left with the lender as collateral. No early payment penalties will be charged if the loan is paid off early.

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.