Some Frequently Asked Questions about Vehicle Title Loans Kanata Ontario

What is a secured collateral car title loan?

Collateral car title loans are secured loans using any car or vehicle and its pink slip or car title as collateral. This type of loan carries very low interest rates compared to unsecured bank loans or short term loans. However, only the car title is left with the lender since a lien is placed on it and is removed when the loan is fully repaid. The car title is then returned to the borrower.

How do interest rates fare with collateral vehicle title loans?

Collateral vehicle title loans have the lowest interest rates in the whole lending industry. Much lower interest rate can be offered against the closest competitors. Payments can be as low as $97 per month.

Is a collateral loan limited only to vehicles?

In the case of no credit check title loans, a fully owned car and its car title are the prime collateral since the type of loan is for land vehicles only. Motorcycles, small trucks, SUV’s, station wagons, and even ATV’s fall into this category.

How long is the loan payment term?

Loan payment terms for collateral auto title loans are the longest up to 5 years. When applying for the loan, no credit checks are done since the loan is already secured by the collateral. As much as $50,000 can be borrowed as determined by the true market value of the car after it is inspected and appraised. When this is done, the loan is approved in one hour.

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.