With collateral car title loans there are no early payment penalty charges so you can pay off the loan at any time so long as you keep your payments up to date.
All you need is to fully own and have a paid up car and that your car title has to be lien free. And although your car is the collateral for collateral quick cash loans, the real collateral is the car title since this is left with the lender and a lien is placed on it while the loan is being repaid.
The collateral must undergo inspection and appraisal
All cars must be inspected to qualify and the appraisal determines the loan amount based on the car’s true market value and other factors like year of make and model and engine performance. The loan amount can be as much as $25,000.
Valid driver’s license required
Naturally with all collateral vehicle title loans, the borrower needs to show a valid driver’s license to prove that he or she is the actual person driving the car as well as being the full owner.
Proof of permanent residence
The best proof for this is always a utility bill addressed to your home or utility bill payment receipts.
No credit checks are needed
No credit checks title loans don’t require any credit checks to be made because the loan is already secured by the collateral. Interest rate is the lowest in the whole lending industry so you can expect payments 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.