Bad credit auto loans Nanaimo British Columbia have gained prominence and acceptance this past decade. Despite that, many people still have reservations about this secured loan. However, a title loan can be a great option if you need cash fast, have a reputable lender, and are dedicated to repaying it on time.
Why Auto Title Loans are a Worthwhile Option
- It’s easy to get one. This is the ideal loan if you have an emergency and need money fast. You can fill up a short application form online and upload the required documents. You can get approved within the hour and the loan will be deposited in your account within 24 hours.
- No worrying about credit scores. Since you’ll be putting up your loan as collateral, your credit score ceases to be a factor in approval. Your car equity will cover the loan. The collateral is also why people with poor credit score or no credit history can qualify.
- You can borrow quite a bit. Your loan depends on your collateral’s value. You can borrow more than $10,000 if your car has enough equity, low mileage, well maintained, and still relatively new.
- Payment plans fit your needs. There are several ways to pay for this loan. You can choose to have your monthly payment automatically deducted from your bank account or salary. Another option is to go to the bank and pay over the counter.
Get You More Money Than the Competition
Canadian Equity Loans is the perfect solution when you need fast cash. You can borrow as much as $50,000 from this trusted lender. The company also offers low interest rates and affordable monthly payments. They also accept early payouts with zero penalties. You don’t even have to worry about credit or employment checks. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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There’s no denying the popularity of auto title loans. After all, getting one is easy, fast, and simple. You don’t need to worry even if you have a poor credit score since you’ll provide the security of collateral. However, just because you have your own vehicle doesn’t guarantee that your applications for bad credit auto loans Nanaimo British Columbia will be approved or that you’ll get the amount you need.
3 Factors That Impact a Vehicle’s Total Value
Your vehicle’s value has a big impact on your auto loan. There are several factors that lending companies look at when considering your application, like:
- Brand: Obviously, the brand and model will affect a lender’s assessment of the car’s value. For instance, a Mercedes-Benz will be deemed more valuable than a Toyota. So be prepared to settle for a lower car pawn loan amount when offering a particular make or model.
- Accessories: Any after-market accessories or enhancements you’ve made on the vehicle will add more value. Interior light extras, electronic add-ons or special paint jobs can make your basic car special.
- Exterior: This is one of the biggest factors that impact’s a vehicle’s value. For instance, an older car with a lot of mileage can still have high value if the exterior has minimal damage. But one with extensive body damage is worth almost nothing in the eyes of a lender.
Lowest Possible Payment in the Industry
No matter what vehicle you offer, you’ll still get the best deals at Canadian Equity Loans. The company provides borrowers loans as high as $50,000. They also offer reasonable interest rates and the lowest monthly payment schemes in the industry. Just log on to their website to apply or call their toll-free number at 1-844-586-6311.
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