What is a collateral car title loan?
Car loans is a secured loan that is offered in exchange for a fully owned car and its car title as collateral. Since it is a secured loan, borrowers need only to put their car title up as collateral and the lender places a lien on it. When the loan is fully paid up, the car title is returned to the borrower and the lien is removed.
Interest rate and repayment terms
The rate of interest charged on collateral vehicle title loans is the lowest compared to short term loans and unsecured bank loans. Payments can be as low as $97 per month. Loan repayment terms are the longest and most flexible that can be offered.
The process is easy
Overall, no credit check title loans is the best choice for those who are facing a temporary financial crunch. The lender inspects and appraises the car for its true market value. The loan amount is determined based on this, The loan is approved in one hour regardless of whether the borrower had bad credit or no credit. This is because no credit checks are needed to approve the loan.
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 1-855-653-5451 and apply now. You can even apply online.