It’s stressful dealing with unexpected expenses, especially if you don’t have money to spare. Fortunately, you can get immediate help with an auto title loan. This secured loan is renowned for its fast application process and minimal requirements. One key requirement is a lien-free title. But what if you don’t have this? Do you still have a chance to get an easy bad credit loan Mississauga Ontario?
Can You Get an Auto Loan Without a Title?
Sadly, no. Your application for a car pawn loan will be rejected if you can’t produce the title. As the loan’s name implies, the entire loan depends on the collateral and the title of ownership. Your collateral acts as security and covers the loan. However, you need the car’s title to prove ownership. The loan also requires the borrower to surrender the title to the lending company. They will hold on to it until the money is returned in full.
There are many reasons why the borrower might not have the title. The vehicle could have been a gift or it’s an old family car. Some applicants might even have lost it. There are many actions you can take to address the issue. You can go to your local DMV and have the car’s title transferred to your name. You can also request for a replacement of the lost title.
Lowest Interest Rates You Can Find
Need a fast loan? Canadian Equity Loans will be with you every step of the way. The company offers borrowers as much as $50,000 in loans. This trusted lender also has the lowest interest rate and monthly payments around. They also accept early payouts with zero penalties. Sign up on their website or call their toll-free number at 1-844-586-6311.
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