Make Sure the Lien is Clear on Your Car Title for Fast Cash Today Redwater Alberta Loans

Before applying for a collateral vehicle title loan make sure the car title is clear of any lien so it qualifies as collateral for the loan.

A clear lien on your car title means you don’t owe any money on any car loan on your car. At that point you can use the car and car title as collateral when you borrow from lenders that specialize in collateral vehicle title loans.

Your credit will not be checked

Even if you don’t owe anything else on your car since all payments have been done with, it’s a good idea to check out your credit report to make sure your car title is truly lien free and free of credit errors. But even if your car title is lien free, if your credit history is really that bad, it actually won’t matter because credit ratings have no bearing on loan approvals for collateral car title loans. No credit checks are ever done with a collateral vehicle title loan.

Collateral vehicle title loans always work for your benefit

When you use your car as collateral for the loan, the lender naturally puts a lien on the car title and removes it when the loan is fully repaid. The loanable amount is determined by the lender’s appraisal of the true market value of the vehicle. Interest rates are the lowest in the whole lending industry because up to 70% lower interest rate can be offered against the closest competitor. Loan repayment terms for these loans are usually from 2 years and are adjustable up to 5 years.

The payoff

Aside from all the benefits mentioned above, you get to keep driving your car while repaying the loan. The loan processing and approval only takes one hour after the detailed inspection and appraisal. All you need to then show is a valid driver’s license and proof of permanent residence. No early payment penalty is ever charged for no credit check title loans should the loan be paid off early.

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.