It’s not that difficult to get a collateral vehicle title loan because the cash you get is based on a vehicle’s true market value.
Turn your fully owned car and car title into cash when you apply for collateral vehicle title loans. This is because your car title serves as the collateral for the loan. You still need to bring in your car for inspection and appraisal since the loan amount will be based on the vehicle’s true market value.
Keep driving your car
While repaying the loan during a term, you get to keep driving your car. This is because the car title acts as the collateral and keeps the loan secured. All the lender needs to do is to place a lien on the car title until the loan is fully repaid. Because the loan is secured, unlike unsecured loans and short term loans, interest rates for car title loans are the lowest in the lending industry since up to 70 percent lower rates can be offered against the closest competitors. Interest rates for these loans are the lowest when compared to short term loans or unsecured loans. Loan payment terms may be adjusted anywhere starting at 2 years and up to 5 years.
No credit checks means fast approval
Whatever condition your credit is in, your credit won’t matter because no credit checks are ever done by lenders of these types of loans. Again, this is because no credit check title loans are already secured by the collateral. All you need to prepare for the fast approval is your valid driver’s license and any proof of permanent residence. Of course, make sure the car title is lien free with no outstanding loan on it. It only takes one hour for the loan approval and you get your loan amount in that same hour. You can loan up to $50,000 based on the car’s true market value.
Instant Loans Canada is a leading collateral title lending company. This locally-owned and managed company has been helping individuals with their finances offering collateral title loans for vehicles. They give borrowers a chance to get quick cash easily, with the lowest interest rates and loan payment terms from 2 years to 5 years. For more information about the company, its title loans and other services, call Instant Loans Canada toll free at 1-866-973-5214 and apply now or apply online.