Many People are Still Not Familiar with Getting Car Loans Bruderheim Alberta

Surprisingly, many people are not yet familiar with collateral vehicle title loans, being more exposed to traditional short term loans and unsecured loans.  

If you still aren’t familiar with collateral vehicle title loans, you might miss out on a loan opportunity when you need it the most. We all experience times when we are in need of cash as soon as possible. It may be for emergency home repairs, an unexpected medical bill, or a short cash flow in your small business. It could even be a financial emergency for your family. Fortunately, a collateral vehicle title loan will never take your bad credit into consideration.

Collateral loans are secure loans

Car title loans offer more cash than other loans based on your car’s true market value. You can borrow as little as $1,000 and as much as $50,000. All you need as collateral is a fully owned car and its car title that should be lien free. The car title needs to be like this because a lien will be placed on it until the loan is fully repaid.

Better interest and payment terms

Most unsecured and short term loans must be repaid in 30 to 60 days. Borrowing is also limited to a few hundred dollars. No credit check title loans offer up to 70 percent lower interest rate against the closest competitor. Loan payment terms can be adjustable starting at 2 years and up to 5 years. No early payment penalties will be charged if the loan should be paid off earlier than expected.

Collateral vehicle title loans are much better because of the minimal requirements

Once you bring in your car for a detailed inspection and appraisal, and when you leave behind the car title that is lien free, the loan is virtually approved in one hour. All you need to show from here is your valid driver’s license and any proof of permanent residence.

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.