A special financing auto loan Salmon Arm British Columbia is a short-term loan that utilizes the borrower’s car as collateral. The loan has gained prominence over the past ten years because it’s easy to qualify for. Even people with poor credit scores can apply. Aside from having your own car, there is certain paperwork you need to produce:
Documents You Will Need for an Auto Title Loan
- Car Title: You will need to surrender the vehicle’s title to the lender for the duration of the loan. It will be returned once the loan has been closed. Your car’s title should be clean and in your name.
- Identification Cards: Borrowers will also need to provide copies of government-issued IDs, like your driver’s license or passport. The lender will verify that the name on the and the title is the same.
- Proof of Residency: This can be any utility bills in your name and registered to your current address.
- Proof of Income: Lenders need to see that you are capable of paying back your car pawn loan. You can show recent payslips, pension or disability slips, or even your bank statement.
- Proof of Insurance: Some lending companies might also ask from proof that your car is insured. The type of coverage will depend on the lender.
- Copy of Vehicle Keys/ GPS Tracker: While many lenders don’t require this, some companies do. It acts as a form of security in case the lender needs to repossess the car.
Lowest Interest Rates You Can Find
Get the best deals with Canadian Equity Loans. You can borrow as much as $50,000 from this trusted lender. They also offer low-interest rates and affordable monthly payments. You also have the option of early payouts without worrying about penalties. Sign up at their website or call their toll-free number at 1-844-586-6311.
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