Getting a Bad Credit Car Loans Langley British Columbia by Applying for a Collateral Vehicle Title Loan

How is a collateral vehicle title loan also a bad credit loan at the same time?

Everyone knows that a bad credit score means you can’t be approved for traditional loans like unsecured loans or even short term loans. The exception to this is applying for a bad credit car loan or what is known as a collateral vehicle title loan.

You only need collateral

Collateral vehicle title loans are loans that use a fully owned car and its car title as collateral. It is this collateral that makes the loan secured because the loan amount is covered by the true market value of the car. You simply give the lender the title to your car for the duration of the loan repayments and the lender places a lien on the title. This lien is removed after the loan is fully repaid and the car title is then returned to the borrower.

Borrowers normally take out collateral car title loans for emergency or unexpected money problems since no other loan can be approved if one has a bad credit history.

You can personally apply with a lender or fill out a form and apply online

Of course, aside from your application, you need to show the lender:

• Your fully owned car and the car title for a thorough inspection and appraisal.
• Proof of permanent residence.
• A valid driver’s license.

When the lender approves your loan in one hour, he gives you the money and keeps the title to your car. When it is time to repay the loan, you pay the lender the amount you borrowed, plus the lowest monthly interest rate.

How much interest rates are applied?

Very low. In fact the lowest. No credit check title loans interest rates are the lowest in the whole lending industry, especially when compared to unsecured loans and short term loans. Up to 70 percent lower interest rate can be offered against the closest competitor out there. Loan terms are from 2 years up to 5 years.

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.