Can I Borrow Money Using Car Collateral Loan?

Unexpected bills and expenses arise in life so you need a bit of extra cash to get help you get through. Having a bad credit score can also deprive you from getting the help you need from traditional loans. Getting a cash advance from traditional lenders like a bank can be challenging and difficult. Most people with bad credit are afraid to get a loan from the bank because of their high chances of rejection.

If you own a vehicle, you can use it to acquire a collateral loan. When you use your car as collateral, it is called a car title loan or a car collateral loan. Collateral is often requires when the lender wants some assurance that they won’t lose all of their money invested in the loan. If you offer an asset as collateral, the lender uses as precaution in the event you are unable to pay back the loan. At which point, the lender has the right to take possession of your asset to retrieve their money back.

Instant Loans Canada allows you to get car collateral loans at a very low interest rate. To get a loan with us, you need to have a fully owned and paid for vehicle (car, motorcycle, truck etc),lien free and no more than 10 years old. Your vehicle should have a clear and be registered and insured in your name.

There are a number of benefits to apply for a car collateral loan With Instant Loans Canada:

You don’t need good credit

If you have no credit or poor credit, you can still get a car loan with us because your credit is not factor. Your vehicle is used as collateral or security for the loan instead. Your bad credit score has no affect the loan approval process.

Keep your car with you!

Using the vehicle for a loan does not mean that you do not get to use it. You can still drive it and use your car as normal. You are simply using your vehicle as collateral to obtain a loan.

Loan procedure is easy and Quick

Obtaining a title loan is easy. You can visit or call us and fill out an application online. The application takes just a few minutes to complete.

Low monthly Payments and No Prepayment Penalties

Our monthly payments are low and there are no prepayments penalties. You can pay off your loan anytime without any penalty of paying off early.

Obtain a car collateral loan in just 4 easy steps!

Step 1: Application

To get a car collateral loan, all you have to do is give us a call or apply online! It only takes 10 minutes, so get started today. You will need to provide your personal information as well as information about your car. The application can also be done with ease, from the comfort of your home, office or cell phone!

Step 2: Paperwork

After applying for the loan, you will need to submit some documents and paperwork. Some of the documents are a valid Canadian driver’s license, proof of permanent residency ( a piece of computer-generated mail that has been sent to your address) a second set of keys for your vehicle and your vehicle insurance and registration.

Step 3: Sign Paperwork

Meet with one of our agents to discuss our loan terms and conditions. Lastly, review and sign your loan agreements.

Step 4: Obtain cash

Receive your cash and drive away! We can lend you up to $50,000. The amount we loan is determined by the market value and condition of your car. Among the factors that we consider are the year, make, model, mileage and condition of the vehicle.

Get Your Loan With Us!

Our experienced and professional team is always ready to help get the loan you need. Speak with a member of our team or visit our website to get the loan process started now! Call us (toll free) 1-866-973-5214 to get your instant cash through a car collateral loan today!