3 Criteria You Should Meet to Get Your Easy Bad Credit Loan Red Deer Alberta Approved

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Thousands of people have vehicle title loans to thank for helping them weather a financial storm. A title loan is a type of secured loan as it mandates that the borrower offers up collateral. This particular feature is the reason why people who have filed for bankruptcy, have poor credit or are currently unemployed are able to secure a loan. There are other criteria you need to meet to ensure that your easy bad credit loan Red Deer Alberta will be approved.

3 Criteria You Need to Meet to Get Loan Approval

Every lending company has its own set of requirements but for the most part, meeting these criteria will almost guarantee approval:

  • You’re legally an adult. Most companies will require that you’re 18-years-old or older before you can apply. This is because the law dictates that only legal adults can be accountable for special financing auto loan.
  • Your vehicle has value. Most lenders are amenable to accepting all types of vehicles. But they’re selective on the quality. They don’t usually accept cars that are a decade old, have garnered high mileage or have been salvaged previously since these have low value.
  • You can show proof of income. Title loans might not need a credit check because of the collateral, but borrowers still need to prove they can pay back the loan. Lenders are happy to accept pension or disability slips or even proof of regular deposits on your bank account.

The Number One in the Industry

People usually don’t have the time for credit checks and long approval process when there’s an emergency. Luckily you don’t have to wait long for loan approval if you borrow from Canadian Equity Loans. The company can offer loans amounting to $50,000, with low interest rates and low monthly payments. Log on to their website to apply from the comfort of home or call their toll-free number 1-844-586-6311.

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