A subprime borrower is a term for people with low credit scores below 670 and considered as high risk borrowers. Because of this, any loans applied with unsecured bank loans are denied. Short term loans that are approved have higher interest rates for these borrowers.
Collateral vehicle title loans also have the lowest interest rates in the lending industry and the lowest interest rates even when compared to unsecured bank loans. Also, your credit rating will not matter since the loan is already secured by the collateral.
Collateral car title loans only need a fully owned car and lien free car title as collateral. The car is then inspected and appraised for its true market value to determine the loan amount. The borrower also needs a valid driver’s license, the vehicle registration, collision insurance on the car, and to make sure the car is not more than 12 years old.
Applying for no credit check title loans means it gets approved in one hour. Loan payment terms are the longest and most flexible up to 7 years. The borrower also gets to continue driving the vehicle while the loan is being paid off.
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.