Here are some frequently asked questions about collateral vehicle title loans.
What really goes on with a collateral vehicle title loan?
Collateral vehicle title loans are secured loans using the car title as collateral for the loan. The borrower puts up the car as collateral but the car title becomes the real collateral since it is left with the lender until the loan is fully repaid. The borrower’s car must be fully paid for and fully owned and must not have any standing loans on it.
What are the interest rates for collateral vehicle title loans?
Fast cash loans have the lowest interest rates in the whole lending industry. Interest rates of unsecured and short term loans are much, much higher when compared to vehicle title loans. Payments for auto title loans can be as low as $97 per month.
What requirements are usually needed?
Not much. Just bring in your car for a detailed inspection and appraisal to determine loan amount and the car title so the lender can see if the title is lien free. Present a valid driver’s license and proof of permanent residence. When all these are submitted or shown, approval for no credit check title loans only takes one hour.
How much can I borrow and how long is the payment terms?
Based on the appraisal for the car’s true market value the borrower can borrow up to $50,000. Loan payment terms are the longest and very flexible compared to other similar loans.
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.