What is a collateral car title loan?
Collateral equity loans are secured loans using a fully owned car and lien free car title. These are low interest loans with payment terms that are the longest up to 5 years. The lender does not do any credit checks. This is because credit ratings have no bearing on the loan approval since the loan is secured by the collateral. Up to $50,000 can be borrowed as loan amount based on the car’s true market value.
Collateral car title loans have the lowest interest rates
Collateral vehicle title loans actually have the lowest interest rates in the lending industry. Interest rates are far lower than unsecured bank loans or short term loans. Payments can be as low as $97 per month and repayment terms are the most flexible reaching up to 5 years.
Very little paperwork preparation and submission
You only need to bring in the car for inspection and appraisal for the loan amount based on the true market value of the car. Then you submit the car title so the lender can make sure that it is lien free. Show your valid driver’s license to prove that you are driving your own car and give proof of permanent residence as well as car or collision insurance that should be standard for no credit check title loans.
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