Collateral vehicle title loans are loans that use a fully owned car and 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 during the loan payment term.
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 your loan. Your car is stored away until the loan is paid back in full. The interest rate for a car pawn can also reach astronomically high proportions, and normally the terms for car pawns don’t go beyond 60 days.
With collateral car title loans no credit checks need to be done because the current car title is eligible as collateral so long as it is lien free. So even if you have bad credit, 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 and unsecured bank loans. It is also the lowest in the whole lending industry. Likewise, loan repayment terms are the longest up to 7 years, giving the borrower enough time to pay off the loan.
Once you have the car inspected and appraised for its true market value, and submit the car title as collateral, all you need to show is a valid driver’s license and proof of permanent residence.
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.