The majority of banks and other traditional lenders will not approve your application for a loan if you have a poor credit score or if you’re unemployed or without any source of income. If you did get approved, the loan would be subpar. Fortunately, you can still get a car equity loan Calgary Alberta loan even if your credit score is not very good.
Ways to Get Your Title Loan Approved
Your credit score isn’t a big factor when you apply for a title loan. It’s because this is a secured loan. This means you’re putting up collateral that acts as security for the lender. However, it doesn’t automatically mean you’ll get approved. Lenders do consider other factors. But there are things you can do to ensure that you will get that loan.
One way of stacking the odds in your favor is to have a co-signer for your cash for car loan. This reduces the risk for the title lender since there’s another individual who will be shouldering the payment in the event that you can’t meet your obligations. Another method is to pre-qualify with a credit union. These organizations are more flexible compared to traditional lenders. Credit unions are willing to work with people who have poor credit if they sign up and become active members.
The Number One in the Industry
Applying for a loan is a breeze with Canadian Equity Loans. One of the best lenders in the industry, they offer loans up to $50,000. They also have one of the lowest interest rates around and provide borrowers with flexible payment plans. You don’t even have to worry about your credit rating or job status. Sign up on their website to apply or call their toll-free number at 1-844-586-6311.
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