All you need to qualify for collateral vehicle title loans is a fully owned car as collateral. You must have a lien free car title. Your car must have at least some kind of comprehensive or collision insurance as security for both the lender and the borrower because the car continues to be used even while the loan is being paid.
Borrowers of collateral car title loans must be able to provide the following:
- A valid driver’s license.
- Proof of permanent residence.
- Your vehicle registration and car or collision insurance.
- The car title that must be lien free because the lender needs to place a lien on the title until the loan is fully repaid.
Loan rates and terms
Loan interest rates are the lowest in the lending industry for collateral car title loans. In fact, payments can be as low as $97 per month. Loan payment terms are the longest and most flexible that can be offered.
No early payment charges
No early payment penalty will be charged if the loan is paid off early. The loan is already secured by the collateral so no early payment penalties, high interest, short terms, and even credit checks are necessary for no credit check title loans.
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.