Many people are surprised by how popular title loans are and the sheer number of people who avail of this secured loan. And while there are disadvantages, the benefits are still compelling enough to convince people to apply for this loan. Here’s why you should borrow using your car Surrey British Columbia.
5 Reasons to Get Cash for Your Car
- Minimal paperwork and fewer requirements. Unlike bank loans, title loans only require a few documents. You only have to present your car’s title, government-issued IDs, proof of residency, and proof of income if you’re applying for this loan.
- No credit checks involved. Most title lending companies do not check the applicant’s credit score or credit history. It’s because the collateral acts as security and covers the loan.
- Get cash fast. One of the most compelling arguments for title loans is you can get the cash you need within the day. If you’re lucky, you might even get it in an hour. The collateral is again responsible for this. It reduces the time spent on verifying information since the loan is already secure.
- Low-interest rates. Lenders can afford to offer low-interest rates because the collateral is providing some degree of protection for both the company and the applicant.
- Retain car ownership. You don’t have to give up your car for this fast loan. However, you would have to surrender the car’s title to the lender. It will be returned to you once the loan has been repaid.
Lowest Interest Rates in the Industry
Canadian Equity Loans can provide you with the financial help you need. The company can lend you as much as $50,000. They also offer low-interest rates and early payouts without penalties. You can even receive the cash you need within the hour. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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