A car is one of the biggest investments people can make. While it’s a useful asset, it’s also one that depreciates rapidly. Experts say a vehicle’s value starts to go down as soon as it leaves the car dealer. Despite that, it can serve you for years. You can even get a poor credit car loan Calgary Alberta with it.
Why People Can Still Use an Older Vehicle as Collateral
- It’s a good way to get fast cash. You can use your car as collateral for a title loan. It’s easy to qualify for one and the application process is so fast, you can get approved in minutes. Lenders will also release the funds within the day.
- It still has value. This loan depends on the collateral, and some cars still retain a high value despite their age. For instance, Ford trucks have such an iconic design their value remains high for years. Vehicles that are properly maintained and with low mileage can still retain their equity.
- You can still get a substantial loan. Unlike bank loans, lenders specializing in this secured loan are more flexible with the requirements. Because you’ve put up a collateral, you don’t have to worry about your credit score. And as long as the vehicle is less than a decade old and isn’t salvaged, you can still get enough for you needs.
Borrow More Money Than Any Competitor has to Offer
Secure the funds you need with Canadian Equity Loans. You can borrow up to $50,000 from this trusted lender. The company offers low interest rates and affordable monthly payments. They also accept early payouts without penalties. You also get to keep your car even while the loan is active. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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