The rising popularity and general acceptance of vehicle title loans means you’ve probably heard of them or know someone who has used it. Despite it becoming mainstream, many people are still confused about low monthly car collateral loans Mississauga Ontario. If you’re interested in finding out more about this secured loan, here’s a breakdown of some of the perks it provides.
Perks of Car Pawn Loans
- Fast and easy process. One of the biggest advantages title loans have over its conventional counterparts are the easy and fast application process most lenders have. Applications can be completed in minutes and approval can be done in a few hours.
- Your credit score doesn’t matter. Title loans are considered secure loans, so it doesn’t really require credit verification. People with poor credit standing or event those currently unemployed can apply for this loan as long as they have the means to pay it back.
- Any vehicle can be used as collateral. Borrowers can offer all types of vehicles as collateral. Lenders accept trucks, RVs, motorcycles, and even boats.
- The borrower can still use their car. You don’t have to surrender your vehicle when you get approved for a car pawn loan. All the lender requires is ownership papers while you retain possession of the vehicle. And you can keep using it during the loan duration.
- More affordable than a cash advance. Since borrowers provide collateral, they’ve already secured some protection so lenders have no need to charge high interest.
Lowest Interest Rates You Can Find
Title loans are a good option if you’re in need of quick cash. Canadian Equity Loans can lend you as much as $50,000 and you don’t even have to worry about employment or credit checks. The company also offers the lowest interest rates and flexible payment options. Log on to their website to apply or call their toll-free number 1-844-586-6311.
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