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Collateral fast cash loans can use any vehicle as collateral. The lender holds on to the vehicle title while the loan is being repaid. The borrower is allowed to continue using and driving the vehicle. Of course, the vehicle title must be lien free.

The difference with car pawning

With car pawning you are required to leave your car with the pawnbroker for the entire time you are paying back your loan. Until your loan is paid back in full, your car is stored away. Car pawning also charges very high interest rates with very short repayment terms.

The collateral is all you need to secure the loan

Any person holding a current car title is eligible to apply for collateral car title loans. The car must be fully owned and the car title must be lien free. All you need to show is your valid driver’s license and proof of permanent residence.

The full benefits of vehicle title loans

Interest rates for no credit check title loans are the lowest in the whole lending industry and the lowest when compared to short term loans or unsecured bank loans. Payments can be as low as $97 per month. Payment terms are never short term because they are the longest at 5 years. Once your loan is approved in one hour, you can continue using and driving the car while paying off the loan. You can even borrow as much as $50,000.

People in need of fast emergency cash can always turn to Instant Loans Canada. We can get a car title loan fast and today for anyone in need of alleviating any financial headaches. All they need is to get in touch with Instant Loans Canada by calling the toll free number at 1-866-973-5214 and get approved in an hour. Get started today at the nearest Canada-wide network of convenient locations.