The popularity of auto title loans is partly due to people with less than impressive credit scores still being allowed to apply. The important thing is you have your own car. Most companies accept all types of vehicles, but some are very particular about the age of the car. Getting a special financing auto loan Red Deer Alberta is challenging if your car is about a decade old. But there are ways to get a loan using an old car.
3 Ways to Get a Loan Using an Older Car
- Verify if the lender accepts old vehicles. This is the first thing you should do to ensure nobody is wasting their time. Check with the company if they’re open to accepting a 10-year old vehicle. You don’t want to fill up a form only for it to be rejected due to a technicality.
- Supply details about your car. Vehicle inspections are an important aspect of car collateral loans. You can either bring their car to the lending company’s office or to email photos. If you’ve chosen the latter, make sure the photos are clear and include details like mileage reading and the VIN. It will help the lender determine how much they can invest.
- Provide proof of monthly income. It will improve your chances and show that you have the means to pay the loan. You can submit copies of your payslip and a bank statement that shows you receive money monthly. Disability and pension slips are also allowed.
Lowest Possible Payment in the Industry
Get the best deal for your needs with Canadian Equity Loans. The company offers loans of up to $50,000. They also have the lowest interest rates around and offer early payouts without penalties. You can receive the cash within the day and retain possession of your car. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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