How To Qualify For a Bad Credit Car Loans?

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Qualify For Bad Credit Car Loans

Before we move on with bad credit car loans and how to qualify for them, let’s first understand what bad credit is and how it can affect your financial needs.

What Is Bad Credit Car Loans?

The concept of credit scoring was introduced into the world of finance in the late 1950s. Since then, individuals have rated with a three-digit credit score. It helps the lender and the borrower in the financing process. Credit bureaus like Equifax and  TransUnion use this score to determine their lending credibility. A scale of up to 900 is used, and anything above 650 is considered good in Canada. This means that the person is responsible while handling money matters and spends according to his money inflow. 

On the other hand, a score below 574 is what’s declared a bad credit score. Individuals who haven’t paid their loans on time or have defaulted on credit card payments lose their scores. It’s below this number of 574 that people find it difficult to qualify for loans. Banks and other lending sources may refuse to put their money at risk by giving it to people with a poor credit score. Here comes the important role of bad credit car loans.

How To Get Started With Bad Credit Car Loans?

There are ways in which you can go ahead and loan some money despite your poor credit. First and foremost thing is to save up. Assess your needs. Funds can be needed for various expected and unexpected events that life throws at you. Your savings will help you a lot to tackle such situations. But what if they are not sufficient enough to cater to your immediate and unexpected cash requirements. You cannot expect a bank to lend you money within a day, especially with a poor credit record. The only way out for you is to go for a car title loan. These title loans are the best way when it comes to the unanticipated events of life. All you have to do is use the title of your car as collateral to get the cash you need and simply drive off in your car.     

Quick Cash Canada has been in the car title lending business for years and has helped many poor credit score holders. With us, you don’t have to worry about your credit score while borrowing funds against the title of your car. 

Process To Obtain a Loan Against Your Car Title

  1. Reach out to us by filling out a basic online application form. You can also call us toll-free 1-888-517-1625. We’ll ask you about some primary details like name, address etc. and also details about the car you’ll be using as collateral to loan money. 
  2. The year of purchase, make and model of the car will determine the market wholesale value of the car, which will decide the loan amount you’ll be qualifying for. 
  3. You’ll be asked to furnish the documents like registration and insurance papers, proof of address, a Canadian driver’s license and spare keys to the vehicle etc.  
  4. Next would be the car inspection part where you’d be asked to bring in your car for review.. 
  5. Loan terms will be discussed and loan agreements signed. We will provide the cash and you can simply drive away!.

All this happens within 24 hours. This means whatever your financial emergency is, you’ll be able to solve it in a day with our bad credit car loans

Advantages Of Bad Credit Car Loans From Quick Cash Canada

  • No job required
  • No credit checks 
  • Minimal  paperwork
  • No delays in processing the loan
  • Same day cash
  • Long tenure of up to 7 years
  • Competitive interest rates
  • Flexible payment options
  • Drive your car for  the entire loan term

We all face a sort of  money crunch at some point in our lives. Freaking out won’t help in the event of a   loan rejection due to a poor credit score. Car title loans are the fastest and the most convenient way of getting out of money troubles. Get in touch with us today! Call us (toll-free) 1-888-517-1625 or apply online.

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