By using your fully owned car and car title as collateral, the lender takes less risk and it’s easier for the borrower to get funding for those financial emergencies.
Quick cash loans need no credit checks for loan approval. Your bad credit has no bearing whatsoever when getting the loan approval. Since the loan is already secured by the collateral, no credit checks are needed. So long as the car is fully paid for and the car title is lien free, this serves as good collateral. Compare this with unsecured bank loans that will only approve your loan if your credit rating is next to perfect.
Collateral vehicle title loans base loan amount on the true market value of the car, as well as other factors like year of make and model, and engine performance. Once the inspection and appraisal is done, the loan is approved in one hour, you bring in the car title as collateral, and get your loan money on the same day.
Even if no credit check title loans are specially made for those with bad credit, the borrower is not subjected to short term repayment terms. Rather, repayment terms are the longest and most flexible at 7 years. Also, the interest rate is the lowest in the whole lending industry.
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.