Collateral vehicle title loans is a secured loan that uses a fully owned car and its lien free car title as collateral. To obtain the loan, you give the lender the car title that is kept as collateral until the loan is fully repaid.
How do collateral car title loans work?
You can personally apply for collateral car loans or fill out an online form. Of course, aside from your application, you need to show:
- Your car for inspection and appraisal for its true market value. Based on this, you can borrow up to $25,000.
- The lien free car title.
- A valid driver’s license.
- Proof of permanent residence.
How much interest rate is there?
No credit check title loans have the lowest interest rates when compared to short term loans and unsecured bank loans, and the lowest in the lending industry. Payments can be as low as $97 per month.
What about repayment terms?
Loan repayment terms for collateral auto title loans are the longest and most flexible that can ever be offered. Aside from this, no credit checks will ever be done for the loan approval because credit ratings have no bearing on the loan approval that is given in just one hour.
It will not matter what your particular credit situation is. Legitimate lenders such as Car Title Loans Canada will help you complete the very minimal paperwork and get your loan approved in one hour. You only get the lowest 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.