A subprime borrower is a term for people with low credit scores – usually below 670 – and considered as high risk borrowers. Because of this, any loans applied with unsecured loans or short term loans denied. Even if a loan is approved, the interest rates go beyond 100%.
Fortunately, collateral vehicle title loans are not unsecured or short term and carry the lowest interest rates in the lending industry and the lowest interest rates even when compared to other loans. Payments can be as low as $97 per month. Also, bad credit will not matter since the loan is already secured by the collateral.
Know the right benefits of collateral title loans
Applying for collateral car title loans means it gets approved within one hour after the car title and the car itself is thoroughly inspected and appraised since these will serve as the loan collateral. Loan payment terms are the longest to be offered. The borrower also gets to continue driving the car while the loan is being repaid.
Easy application and processing
No credit check title loans do not require any credit checks because the loan is secured by the collateral. The lender simply inspects and appraises the car for its true market value to determine the loan amount. The loan amount can be as much as $25,000 based on this. The loan is approved in one hour even if the borrower has bad credit.
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.