Car Equity Loans – Unlock The Equity Of Your Car

Car title loans have become quite popular amongst  Canadians because they generate quick cash for urgent money needs. Because of the benefits these car title loans carry, people use them to cater to emergencies like long overdue credit card bills, divorce settlements, medical bills, college supplies, house renovations etc. Below you’ll read about all the benefits associated with car equity loans or car title loans. 

Benefits of Car Title Loans

The most advantageous point of getting a car title loan is that it allows the borrower to get the money quickly. Instant Loans Canada is a leading provider of auto equity loans and processes the loan requests within 24 hours. Our process of reviewing  the loan request from the beginning until the end is quick and easy. Anyone with a car that’s fully paid off, can get this loan. All they need to have is a clear car title that they are going to use as collateral. Even your credit report is not necessary for the loan. People fall prey to high interest rates when they apply for a personal loan with banks and other lenders especially in cases of bad credit profiles. But with us, you don’t have to worry about your poor credit history or low credit score. There are no need of credit checks on our client profiles. The main reason for that is that your vehicle acts as the collateral for  your loan. Your loan is supported by the title documents of your vehicle and hence a credit score really doesn’t matter. 

With our high approval rates, the borrowers are  assured of getting a title loan as long as the vehicle is under 10 years of age. Another benefit is that the borrower can continue using the vehicle as usual. There’s no requirement of surrendering  the vehicle with us. Keep driving your vehicle while making monthly payments. All you have to submit with us is the lien-free title and spare pair of keys to the vehicle.  

One can borrow up to $50,000 against the vehicle. The maximum loan tenure that one can opt for is 5 years which means easy and small monthly payments. Another added advantage to our car equity loans is that we don’t ask for proof of income nor do we get into your employment details. Benefits don’t end here. If in case you ever feel like repaying the remaining loan in one go, you can do so through our prepayment facility and we won’t charge any penalty for that.     

Getting a Car Title Loan with No Credit

Many Canadian are in the process of building their credit history and it gets a little difficult for them to apply for loans. There’s no chance that they’ll get a loan from a bank or traditional lender with no history of credit. But with Instant Loans Canada, all those who are in the initial stages of building their credit can apply and get a title loan against their vehicle.   

Documents To Be Submitted

Once you have made up your mind to use  the equity of your car, you can get in touch with us through our online platform or talk to one of our loan agents. We will guide you through the process of our car equity loans. All you have to do is fill out a simple application form with basic details like your name, email address, car details etc. Send  the form to us and we will qualify it for the next round. You have to provide the following paperwork so that we can start your loan process:

1. Proof of legal age 
2. Lien-free car title 
3. Vehicle registration in your name
4. Canadian driver’s license
5. Proof of permanent residence
6. Insurance papers (inclusive of collision and comprehensive)
7. Extra set  of keys to your  vehicle (it should work on all doors and ignition)

So next time if you ever find yourself in financial trouble and banks have turned their back on you, try Instant Loans Canada. You can reach  us toll free 1-866-973-5214 or you can also apply online.

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