What Factors Will Affect How Much You Can Borrow Using Your Car Edmonton Alberta?

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An auto title loan is one option you should consider if you’re facing an emergency or in some financial distress. This secured loan has a fast application process that allows you to get the money you need within the day. Your collateral is a critical element in this loan since its value will influence approval and how much you can borrow using your car Edmonton Alberta. There are other factors to consider as well. 

Factors That Influence Your Vehicle Title Loan

  • Car Equity: The loan revolves around the value of the vehicle you’re using as collateral. Most lending companies will offer the borrower 25% to 50% of the car’s resale value. Some will consider the loan-to-value ratio (LTV) to determine how much they can give. 
  • Lender’s Guidelines: Every lending company has its own procedures and protocols. It’s why lenders have varying minimum and maximum loan offers. Some offer a minimum loan of $500 to $1,000. There are also lenders that offer as much as $45,000 or more. 
  • Applicant’s Location: The city you live in can also impact your loan application. Some states have placed caps on interest rates that all lenders follow. Others have more freedom on the kind of interest they offer. 

Same Day Cash 

Send your application to Canadian Equity Loans today and get the funds you need within a few hours. You can borrow as much as $50,000 from this trusted lender. Our company has the lowest interest rates and monthly payments around. We also accept early payouts without penalties. You even retain possession of your car. Sign up at our website or call our toll-free number at 1-844-586-6311.

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