Secured loans vs. unsecured bank loans
Collateral vehicle title loans simply use a fully owned car and its lien free car title as collateral in exchange for the loan. In reality, it is only the car title that is left with the lender so a lien can be placed on it. After the loan is fully repaid the lien is removed and the car title returned to the lender.
On the other hand, unsecured bank loans will only be approved if the borrower has a good credit rating. Interest rates are also enormously high and loan payment terms are very short at 60 days. Loan payment terms for collateral car title loans are the longest and the most flexible that can be offered.
Bad credit, no credit, no problem at all
If a borrower has bad credit or no credit at all, loan approval is still given in just one hour. This is because the loan is secured by the collateral. The borrower can continue to use and drive the car while repaying the loan. You can even borrow up to $25,000.
Secured loans have low interest
No credit check title loans have the lowest interest rates ever and the lowest compared to unsecured bank loans. Payments can be 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 1-866-973-5214 and apply now. You can even apply online.