Every now and then, we find ourselves stuck in situations requiring immediate cash. Loaning money from family and friends isn’t always the ideal t option every time we are in a cash crunch. Banks and other lending institutions take usually a longer time to process loan requests. So what other options are out there?A Car Equity Loan, one of the most convenient funding options is your answer. These loans are not like the everyday loans you generally apply for..
How Does It Work?
An Auto Title Loan works using the equity value in the car. This equity we are referring to is the value of the vehicle according to the current market minus the amount still owed on the vehicle.. The equity value is used to determine the loan amount that a customer can borrow. To get the auto title loan you will need to have a fully paid off vehicle with sufficient equity value. Car Title Loans Canada does not do any credit checks as part of the loan process. So, even those with low credit scores can apply for this loan. Not only those with a bad credit score can apply but, even those with a poor credit score or no credit history is acceptable. Easily borrow loan against the title papers of your car.
Benefits You Get
Next time you ever need emergency cash for credit card bills, house repairs, moving expenses opt for a car equity loan because it comes with many benefits.
- All you need to qualify for this type of loan is a vehicle that has no liens. There should be no financial monthly payments being made on the vehicle being used. In other words, the vehicle must be paid in full.
- You also get to keep your vehicle for the duration of the loan. Keep your car and get your loan money! . We won’t store your vehicle as we realize how important your vehicle is for daily needs. .
- Generally, auto title loans are short term loans with bigger monthly installments. But that’s not the case when you apply with us. Our loans are spread over a period of 4 years. This means the borrower gets more time to repay the loan along with manageable monthly payments. .
- No proof of income required. What matters is monthly loan payments are made on time.
- In the event a borrower wants to make an early payment or pay off the loan before the loan term expires, you are more than welcome to do so. No prepayment penalties or fees will be charged. This allows the customer to pay off the loan quickly with a convenient option to make early payments or pay off the loan in full when it’s convenient for them..
- Once all the paperwork is done and the vehicle is inspected thoroughly, the borrower can expect a quick approval and even quicker disbursal of the loan funds.
- Last and the most important, all your details are kept private and confidential.
Loan Requirements
- Proof of permanent residence
- Vehicle registration papers in your name
- Vehicle insurance papers in your name
- A fully paid off vehicle that is no more than 10 years old
- Vehicle title papers with no liens
- Valid Canadian driver’s licence
- Spare set of key to the vehicle
We know and understand the role money plays in today’s world. Check out the steps on how easy it is to apply for a car equity loan.
Step 1: Apply Online
Fill out a basic online application form.. One of our loan agents will contact you for further details and requirements..
Step 2: Submit Documentation
Our loan agents will review your application and contact you to provide a rough quote. We will then request you to send in supporting documentation and continue with the loan process.
Step 3: Get The Car Inspected
You will be asked to bring in your vehicle for inspection. We will check its overall condition and draft up paperwork. We believe in providing a transparent loan process and system. That is why we discuss and review the loan terms and conditions with you before proceeding. Once reviewed you will be asked to sign the paperwork.
Step 4: Get The Funds!
Once all the paperwork has been reviewed and signed, the money is yours! . It generally takes only a couple of hours.
Get in touch with one of our loan agents today by calling (toll free) 1-855-653-5451 or simply visit our website to apply online.
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