Unsecured loans and short term loans carry more risks
People think that there is less risk for a loan that needs no collateral to secure the loan. But unsecured bank loans carry more risks than collateral bad credit loans. When lenders make a credit check and your credit score is low, the loan will not be approved. The worse thing is that unsecured bank loans and short term loans carry the highest interest rates and loan terms are only 30 to 60 days.
Collateral vehicle title loans are the only secured way to loan
Collateral car title loans are secured by the collateral so there is little risk for both borrower and lender. All you need as collateral is your fully owned car and its car title. There should be no outstanding liens on the car title. Credit checks will never be done because the loan is already secured by the collateral.
Very little requirements
All you need to prepare is your valid driver’s license, proof of permanent residence, and the car itself for a detailed inspection and appraisal to determine the true market value for the loan amount. The car title is then left with the lender to serve as the collateral. Up to $25,000 can be borrowed.
The biggest benefits from vehicle title loans
The biggest benefits from no credit check title loans are its low interest rates, the lowest in the whole lending industry. Payments can be as low as $97 per month. Repayment terms are the longest that can ever be offered.
It will not matter what your particular credit situation is. Legitimate lenders such as Car Title Loans Canada will help you complete the paperwork and get your loan approved in one hour. You only get the best rate and the longest terms. At Car Title Loans Canada, we loan you money based on the value of your vehicle, not your credit score. Call Car Title Loans Canada Toll Free at 1-866-973-5214 and apply now. You can even apply online.