Clearing Out the Lien After You Borrow from Bad Credit Loans Edmonton Alberta
A clear lien on your car means you don’t owe any money on your car from whatever loan. At that point, you have no more loan payments to make, and so you can once again use the car as collateral when you borrow from bad credit loans.
Your credit rating will not be checked
Obtain a copy of your credit report to find out if your car title is clear and lien free. Of course, if you don’t have any outstanding loans so your car title should be lien free. The car title is the actual collateral that is left with the lender while the borrower continues using the car. No credit checks are necessary because the loan is secured by the collateral.
The benefits and advantages
When you use your car as collateral for collateral car title loans, the lender naturally puts a lien on the car title. The loanable amount is determined by the lender’s inspection and appraisal of the true market value of the car. Up to $50,000 can be borrowed based on this. Interest rates are the lowest in the lending industry and the lowest when compared to traditional loans such as unsecured bank loans and short term loans.
The payoff for no credit check title loans aside from the low interest rate and no credit checks needed is the long and flexible loan payment terms. This aside from the fact that the loan is approved in just one hour and the cash given on the same day.
At Canadian Equity Loans, we loan you money based on the value of your fully owned car and not your credit history and score. That means that you have fast access to emergency cash whether you have bad credit or no credit at all. Call Canadian Equity Loans now at their toll-free number 1-844-586-6311 or apply online.