How to Apply and Acquire a Bad Credit Loans Spruce Grove Alberta

Even if you have bad credit or your credit is invisible because you never took on a loan before, you can still be approved for collateral vehicle title loans.

Vehicle title loans provide fast access to a loan that is based on the worth of a fully owned car. Anyone can apply because the loan is not based on any type of credit rating, so the loan is still approved even if the borrower has bad credit or no credit. Car title loans are approved very quickly because no extensive credit checks are required so the time required to process the loan can take only one hour. While paying off the loan, the car remains in the possession of its owner until the loan is fully repaid.

Your vehicle as collateral for the lowest interest rates

Collateral vehicle title loans are secured loans because it is based on the collateral. This type of loan is low in risk, so it can be given at the lowest interest rate. Up to 70 percent lower interest rate can be offered against the competition.

All types of credit applicants are accepted

No credit checks are needed to be done by the lender to approve no credit check title loans. These loans are already secured by the collateral. Not even employment background checks are done. So long as the car is fully owned and paid up, and the car title is lien free, they qualify as collateral. Only the car title is left with the lender who places a lien on the title for the duration of the loan term or until the loan is fully repaid. The loan is approved in one hour after the borrower shows a valid driver’s license and proof of permanent residence. You can borrow as little as $1,000 and as much as $50,000. If the loan is paid off early, no early payment penalty will be charged.

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.