With collateral car loans the lender determines the loan amount based on its true market value. The lender holds on to the car title and places a lien on it until the loan is fully repaid. After the car is inspected and appraised the borrower only needs to show a valid driver’s license, proof of permanent residence, vehicle registration, and car or collision insurance. After all this is done and submitted, the loan is approved in just one hour.
All collateral vehicle title loans are based on collateral equity so this means the loan is already secured by the collateral that qualifies the borrower for the loan. Even if the borrower has bad credit or no credit this has no bearing on the loan approval. No credit checks are done. Even while repaying the loan the borrower is allowed to continue using the car until the loan is fully repaid, the lien lifted, and the car title returned to the borrower.
Interest rates for no credit check title loans are the lowest in the whole lending industry and when compared to other unsecured loans and short term loans. Much lower interest rate can be offered versus any competitor out there. Loan repayment periods are the most flexible and the longest up to 7 years. No early payment penalty will be charged if the loan is fully paid earlier than expected.
When in need of immediate or emergency fast cash that offers no penalties for early payments and low interest, a collateral car title loan from Quick Cash Canada may be the best option for you. Call Quick Cash Canada Loans toll free at 1-888-517-1625 and apply now for a car title loan. You’ll speak with a member of our dedicated team and see how Quick Cash Canada can help.