Whatever the credit situation or credit history, borrowers can still get approved for a collateral vehicle title loan.
You can slug it out and solve any financial emergency even if you’re a subprime borrower by applying for collateral vehicle title loans. Because of a collateral vehicle title loan, borrowers with imperfect credit can improve their credit report while solving those unexpected money problems.
Borrow as much as $50,000
The loan amount is determined by the true market value of the fully owned car that is the collateral for the loan. That is why as little as $1,000 or as much as $50,000 can be loaned. Collateral car title loans have loan payment terms that start at 2 years and up to 5 years.
You don’t need a credit history to be approved for the loan
Collateral vehicle title loans don’t require any credit checks for the loan approval. Borrowers can even apply for the loan even if they don’t have any preexisting credit history. This is because the loan is already secured by the collateral. You even continue using your car while repaying the loan during the loan term because all that the lender needs as collateral is the lien free car title. A lien is placed on the car title until the loan is fully repaid.
The lowest interest rate ever
After the car is inspected and appraised and the borrower can show a valid driver’s license, the lien free car title, and proof of permanent residence, the loan is approved in one hour. For the lowest interest rate, up to 70 percent lower interest rate can be offered against the closest competitors out there.
You no longer need to go to short term loans or car pawning
With no credit check title loans you no longer need to go to short term loans or car pawning loans that will only offer high interest rates. Also, your car will be held as “pawned collateral” by the pawnbroker. This will never be the case when you apply for collateral car title loans.
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.