If you own your car fully and with no lien on the car title, you can turn these into cash with the help of collateral vehicle title loans. These loans use the value of your car and the car title as collateral for the loan.
The vehicle determines the loan amount
Naturally, the lender must make sure that the car is in good condition, must be rust-free, without mechanical problems, be roadworthy, pass all emission tests, and with no disqualifying characteristics such as a 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 vehicle and use it while paying off the loan. You can borrow as much as $50,000.
The required documentation for no credit check title loans isn’t hard to prepare and submit aside from the car title. All you need is to show your valid driver’s license and submit proof of permanent residence.
Low interest and reasonable loan payment terms
Since collateral car title loans are secured loans, interest rates are the lowest in the whole lending industry and even lower when compared to other unsecured loans. Loan terms run the longest and the most flexible ever. 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.