What Is A Same Day Cash Collateral Loan?

A car title loan is a funding tool that allows people to use  their title papers of their vehicle as collateral for a loan. The loan is then considered secured using the collateral for the loan. The lender provides the loan  based on the equity value and also condition of the vehicle. The loan is provided within 24 hours of approval. Instant Loans Canada provides these same day cash collateral loans to Canadians with a hope to help them in the time  of need. 

For the full duration of the loan, the title papers remain with Instant Loans Canada as security or collateral. When the borrower returns the lended money along with the interest amount, we release the title by removing the lien. Putting a lien on the title is important as it covers the legal interest that we will have on your vehicle until the loan is paid in full. We remove all these claims and free the title paper when the loan is fully paid. 

Our auto title lending term period goes up to 5 years. You are free to decide the loan term as we offer flexible payment options. It is  an open loan. This means that you are free to pay off the loan when you wish to. If you pay off the loan  before the completion of the term, banks and credit unions usually charge extra fees. We don’t charge any penalties in such cases  There are no prepayment penalties or fees applied..

When a person finds himself in a financial crunch this usually means they are in need of  immediate help in which he cannot rely on a bank or a credit union. These lending sources have a longer loan  process  that requires verification and lengthy paperwork.  They prefer a good or perfect credit score or the file will likely be rejected.  Banks usually also have complex paperwork to complete and sign before they proceed any further. So, if you are in a real tight spot and need money ASAP, don’t go to banks or credit unions. Try our vehicle collateral loan instead!

We have a simple documentation process that  allows us to be the best same day cash collateral loan providers in Canada. We don’t ask for your  credit score because your credit score doesn’t matter. People with bad credit scores can easily apply for auto title loans at competitive interest rates. Our title loans are open to all credit types. Even the ones who are in the process of building a credit history are welcomed to apply for loans. After we inspect your vehicle we  arrive at an appropriate loan value you can borrow.  We disburse the loan on the same day of approval. The main reason funds are disbursed so quickly is because of our  no credit check policy and streamlined loan process

To apply for an auto title loan, all they need to do is fill out an online form with basic details. Once you fill the form, we will quickly review the information and be in contact  with the details about the next steps, which would be the  inspection of your vehicle. Your vehicle will be inspected at one of our local offices. This step will help us calculate the loan amount you’ll qualify for. After all the documents have been verified including the e inspection of your  car and agreements signed, you’ll be handed over your loan money. 

You will need the following  in order to apply for a same day cash collateral loan:

• Proof of your legal age as per your province.
• You must have a fully paid for vehicle which needs to be 2010 or newer.
• A lien-free title of the vehicle.
• Collision and comprehensive insurance papers in your name.
• Vehicle registration papers in your name.
• A valid Canadian driver’s license.
• Proof of permanent residency.
• A second set of keys to your vehicle which shall remain with us.

To know more call (toll free) 1-866-973-5214 and talk to one of our loan agents. Or you can apply online! Get a vehicle collateral loan today to resolve your money issues quickly!

You can also follow us on social media:

Twitter: https://twitter.com/InstantLoansCan
FaceBook : https://www.facebook.com/InstantLoansCanada/