A collateral vehicle title loan is a fast and simple loan wherein the vehicle’s title is simply used as collateral.
When applying for a collateral vehicle title loan the vehicle is simply evaluated and appraised based on its true market value as well as the condition of the vehicle. The vehicle serves as the loan collateral and the vehicle title should be lien free so the lender can place a lien on it because of the loan.
Applying for the loan is worry-free
All collateral car title loans are never based on any credit situation. The borrower may have no credit history or a bad credit history but it will never matter with the loan approval. Once loan approval comes in just one hour, the loan amount is released in that same hour. Aside from the vehicle and vehicle title as collateral, all you need to show the lender is a valid driver’s license and any proof of permanent residence. The borrower will even be able to continue using the vehicle throughout the loan term while repaying the loan.
Bad credit, no credit? No worries
No credit checks or employment checks are ever run by the lenders because the loan is already secured by the collateral. The loan is solely based on the value of the vehicle and not on any credit history or score. Banks and other unsecured loan lenders will only approve your loan if your credit score is good.
The best benefits of all
When you get a collateral vehicle title loan, you get extraordinary benefits that other unsecured or short term loans could ever offer.
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. It’s almost a fast-money guarantee that you can be out the door in an hour with your loan amount. We’ve got the process down pat. Be on the winning side of annoying debt. Just think of Instant Loans Canada as the beginning of a way out.