Equity Loans Calgary Alberta Can be Approved Even if the Borrower Has Bad Credit
Collateral equity loans are for people who have bad credit and can’t apply for traditional short term loans or unsecured loans because they won’t be approved. This is because a bad credit rating makes a subprime borrower a so-called high risk borrower. However, bad credit will not matter with loan approvals for collateral auto title loans.
When applying you don’t need to prepare a lot
All you need to prepare is the car title, your valid driver’s license, and proof of permanent residence. The car title must be lien free and with no outstanding loans on it.
Your credit rating will not matter
No matter what your credit rating is or even without one, it will not matter when applying for collateral vehicle title loans. For one, these loans are secure since what will matter is the collateral that secures the loan. Since you only leave the car title as the collateral, you get to keep driving your car while paying off the loan during the loan term.
True market value
Before the lender approves the loan, the vehicle must undergo inspection and appraisal and getting the true market value of your car so you have an idea how much you can borrow. You can borrow up to $50,000. The lender also makes sure that the car is covered by collision insurance.
Lowest interest rates
Interest rates for no credit check title loans are the lowest in the whole lending industry and the lowest when compared to unsecured loans and short term loans. For loan terms, you can get the longest and most flexible that can be offered.
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.