There Are Great Benefits of Applying for Car Loans Okotoks Alberta

Applying for a collateral car title loan means many great benefits like long loan terms and lower interest.

Loans in the past consisted of unsecured loans from banks that were only approved if you have a good credit score, and the interest rate was very high. Short term loans could probably be approved even with your bad credit history, but the waiting period took days and up to a week and the interest rate was very high as well. With collateral car title loans, you get a lot of great benefits.

Fast approval and fast cash

For financial emergencies or sudden payment needs, car title loans allow the borrower access to money in an hour after the loan is approved in that same hour. You can borrow as little as $1,000 and as much as $50,000. Aside from the car and car title that serves as collateral, all you need to show is a valid driver’s license and proof of permanent residence.

No credit checks will ever be done

No credit check title loans work by simply putting up your car and car title as collateral to secure the loan. Because of this there is no need to have a credit check. No matter what the condition of your credit history, so long as you have a fully owned car as collateral, borrowers can get approved for the loan in one hour.

You can keep driving your car

You can still keep your car and drive it while in the process of repaying the loan during the loan term, another big advantage of collateral vehicle title loans. The lender still needs to check if you have the proper insurance on your vehicle for the protection of both borrower and lender.

Lowest interest rates

Collateral car title loans carry the lowest interest rates in the lending industry. Up to 70 percent lower interest can be offered up against the closest offer of the competition anytime.

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.