A collateral vehicle title loan is secured loan for an amount of money for a loan term that is the longest you will ever experience.
Normally, unsecured loans or short term loans offer only 30 to 60 days. This isn’t the case with collateral car title loans.
How do collateral vehicle title loans work?
To start you off with collateral vehicle title loans, you need to show or submit the following to the lender:
- Your fully owned car for a detailed inspection and appraisal to determine the loan amount.
- The car title that should be lien free.
- A valid driver’s license.
- Proof of permanent residence.
You only need to leave the car title with the lender and continue to use the vehicle while repaying the loan.
The lowest interest rates in the land of lending
Interest rates for car loans are the lowest in the lending industry and the lowest when compared to short term loans or unsecured loans. This goes hand-in-hand when the true market value of your car as collateral is revealed. Payments can be as low as $97 per month. No credit checks need to be done by the lender because the loan is already secured by the collateral. Even if you’re facing really bad credit report or that your credit is non-existent, you have nothing to worry about because the loan will always be approved 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 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.