Collateral equity loans allow you to pledge a car and its car title as collateral in exchange for the loan amount. Credit ratings have no bearing on the loan approval.
The basics of collateral car title loans are simply basic
To be approved for the loan you need to have a fully owned car as collateral and its car title must be lien free. The loan amount will be based on the car’s true market value.
Interest rates and loan payment terms
Interest rates for collateral car title loans are the lowest when compared to other unsecured bank loans and short term loans. It’s also the lowest in the whole lending industry. Much lower interest rate can be offered versus any close competitors. Payments can be as low as $97 per month. Loan payment terms are the longest and most flexible.
Other benefits of collateral vehicle title loans
Even while paying off the loan you can continue using your car and keep driving it. If you can pay off the loan before the term ends, no early payment penalty will be charged. If you have bad credit or no credit, it will not matter because no credit checks are needed for the loan approval. This is because no credit check title loans are secured by the collateral.
The bottom line for collateral car title loans
This loan is considered the best solution should everything else fail in solving any financial emergency. The benefits alone should attract anyone with these problems, especially those with bad credit.
It will not matter what your particular credit situation is. Legitimate lenders such as Car Title Loans Canada will help you complete the paperwork and get your loan approved in one hour. You only get the best rate and the longest terms. At Car Title Loans Canada, we loan you money based on the value of your vehicle, not your credit score. Call Car Title Loans Canada Toll Free at 1-866-973-5214 and apply now. You can even apply online.