It’s a well-known fact that you need a good credit score when applying for a bank loan. Some traditional lenders even require a specific score before they would even consider a lender. But what kind of credit score do you need if you’re getting an easy bad credit loan Toronto Ontario?
The Right Credit Score for Title Loans
There’s actually no right credit score for title loans. This is considered a secured loan, which means the borrower has to have collateral. In this case, it’s your vehicle’s ownership title. The collateral is a kind of security that will cover the money the lender will release. Since the borrower has offered collateral and this determines the loan amount, the lending company doesn’t have to check the credit score or employment history.
Specialized car equity loans are very flexible, especially in terms of credit and employment. You can actually get a loan even if you’re currently unemployed. However, title lenders are strict with payments and defaulting has severe consequences. Missing payments can result in your vehicle getting repossessed to cover the lender’s investment. They might even sell your car to get their money back. You might end up with no car and a loan balance that still needs to be paid.
Get You More Money than the Competition
Apply for a title loan now with Canadian Equity Loans and get the money you need in a few short hours. Known as one of the country’s most reliable lenders, they can offer loans up to $50,000. That’s more money than what their competitors can offer. The company also has low-interest rates, extended loan terms, and affordable monthly payments. You won’t even stress out over your credit score. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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