Vehicle title loans have helped millions of Canadians face emergencies this past decade. This secured loan is designed so that everyone, regardless of their credit score or employment status, can apply for it. While the loan is easy to qualify for, it doesn’t mean you’ll get automatic approval. Loans are not like that. There’s still the risk your application will be denied. But if you meet these three key requirements, your poor credit car loan Woodbridge Ontario is virtually in the bag.
Requirements That Guarantee Fast Loan Approval
- Government Issued Identification: You must be 18-years old or older to be able to apply for any loan. The legislation clearly mandates that only those considered adults by the state can be legally obligated to pay loans.
- High-Value Vehicle: A title loan requires collateral. While you will only be surrendering your car’s title, the vehicle in question has to be lien-free and in an adequate working condition. Some lenders are even very specific as to the model and age of the collateral. The car’s exterior, interior, and machinery should also be well-maintained. This is to ensure that the lender can still sell the vehicle if the borrower defaults on the loan.
- Proof of Income: While bad credit car loans don’t require borrowers to be employed, they must be able to present proof that they have a monthly income. This can come in the form of a salary, pension, alimony, disability, or allowance.
Same Day Cash
Kiss your money problems goodbye with Canadian Equity Loans. You can borrow as much as $50,000 from this trusted lender. They also offer low-interest rates and accept early payouts without penalties. You can even get the money you need on the same day. Sign up at their website or call their toll-free number at 1-844-586-6311.
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