If you own your car fully and with no liens on the car title, you can turn these into cash with the help of collateral car loans. These loans use the true market value of your car and the car title as collateral for the loan.
The vehicle determines loan amount
Naturally, the lender requires the car to be in good condition. That means the car must be rust-free, without mechanical problems, be roadworthy, and pass all emission tests. Lenders will look at the car to make sure there is damaged engine or transmission, or have extensive body damage. The loan amount is then determined by the car’s true market value. When the loan is approved in one hour, you leave the car title with the lender and drive off with the car and use it while paying off the loan. With collateral car title loans you can borrow up to $50,000.
These aren’t hard to prepare and submit aside from the car title you leave with the lender. All you need is to show your valid driver’s license and submit proof of permanent residence.
Low interest and reasonable loan payment terms
Interest rates for no credit check title loans are the lowest in the whole lending industry and even lower when compared to unsecured loans. Loan terms are the longest that can be offered. It costs nothing to apply for a collateral auto title loan. Should the loan be paid off early, no early payment penalty will be charged.
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.