To apply and get approved for collateral car loans, the borrower must have a clear and lien free car title, a valid driver’s license, proof of permanent residence, vehicle registration, car or collision insurance, and the car itself must not be more than 12 years old. With these minimal requirements a borrower can be processed and approved in one hour.
Since collateral car title loans are secured loans that use a borrower’s fully owned car and car title, the lender simply puts a lien on the car title until the loan is fully repaid and the lien is then removed. These loans involve very low interest rates, in fact, the lowest in the whole lending industry.
Normally, aside from the lowest interest rates offered by no credit check title loans, loan repayment terms are the longest ranging up to 7 years.
When you bring in your car for inspection and appraisal as the lender determines the loan amount through the car’s true market value.
Just reading about the benefits above gives great comfort to borrowers in need of emergency cash. What’s more, even if the borrower has bad credit or no credit, the loan is still approved based on the collateral because credit ratings have no bearing on this loan and its approval.
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.