Quick cash loans are loans that use a fully owned car and its car title as collateral. The lender holds on to the car title while the loan is being repaid. The borrower is allowed to continue using the car while making loan payments.
With car pawning, you are required to bring your car to the pawnbroker and leave it there for the entire time you are paying back the loan. Your car is stored away by the pawnbroker until the loan is paid back in full. The interest rate for a car pawn can also reach very high proportions, and normally the payment terms are 60 days or less.
With collateral car title loans no credit checks need to be done because the current car title is eligible enough as collateral so long as it is lien free. So even if your credit rating is really that bad, it won’t matter with the loan approval.
Unlike car pawns that charge astronomical rates, the interest rates for no credit check title loans are the lowest even when compared to short term loans, unsecured loans, and car pawns. It is also the lowest in the whole lending industry. Likewise, loan repayment terms are the longest ever at 7 years.
Once you have the car inspected and appraised for its true market value, all you then need to do is the car title as collateral, show is a valid driver’s license, any proof of permanent residence, and collision insurance for the car.
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.