There is a way to get an emergency loan using only your motor car and its car title as collateral. When you get collateral fast cash loans, you pledge your car and car title as collateral in order to get a loan amount. For people with no other options, this loan is the most reasonable choice. The risk for both borrower and lender is very low because the loan is already secured by the collateral.
How do collateral car title loans work?
You go to the lender and settle on an amount you’ll borrow, and this is based on the car’s true market value so long as the car’s engine performance is satisfactory and the car is not more than 8 years old. You can borrow as much as $25,000. Of course, you must own the car completely to qualify for the loan and the car title must have no outstanding liens on it.
Loan payment terms
Collateral car title loans are emergency loans but no longer the short term affairs of the past. Loan payment terms now run the longest and most flexible that can ever be offered.
The lowest interest rates
High interest rates are one of the biggest drawbacks to unsecured or short term loans. Much like payday loans or bank loans with extremely high interest rates. However, no credit check title loans carry the lowest interest rates in the lending industry and even lower when compared to other loans. You can pay as low as $97 per month.
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 1-855-653-5451 and apply now. You can even apply online.