It’s Far Better to Get Cash Same Day Morinville Alberta than a Payday Loan

Getting a collateral vehicle title loan with lower interest is far better than a payday loan.

Simply put, collateral car title loans are secured and payday loans are not. A collateral vehicle title loan uses a vehicle as collateral, while a payday loan is simply an unsecured loan. Lower interest rates mark collateral vehicle title loans while payday loan interest rates are much higher compared to even other unsecured loans.

A collateral vehicle title loan offers more cash and lower interest rates

Vehicle title loans allow people to get more money because of the collateral is simply the car title that is left with the lender so a lien can be placed on it until the loan is fully repaid. The loan amount is based on the car’s true market value after a detailed inspection and appraisal. You can borrow as little as $1,000 and as much as $50,000.

Another plus factor for a collateral vehicle title loan compared to a payday loan is that up to 70 percent lower interest rate can be offered against the closest competitor out there. Unsecured loans including payday loans are always characterized by high interest rates.

Flexible repayment terms of up to 5 years

The most noticeable reason no credit check title loans are better than expensive payday loans is because of their long payment terms. These loans offer a lot of flexibility with terms starting off at 2 years and adjustable up to 5 years. No credit checks will also be made for the loan approval.

No more red tape and unnecessary requirements

To get approved for a collateral vehicle title loan in just one hour, all you need to bring is your car for inspection, your car title to be checked if lien free, a valid driver’s license, and any proof of permanent residence. You only need to make sure that the car you fully own is fully paid off with no outstanding car loans on it.

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. You’ll speak with a member of our dedicated team and see how Instant Loans Canada can help.