1.Understand your needs
A financial crunch can really be troublesome for you and your family. Money is critical in our lives and its shortage can deprive us of many opportunities. Believe it or not but money plays a vital role in controlling what goes in our lives and runs the overall show. Need for money can disturb your peace of mind. So, whenever you find yourself in a circumstance where you want a loan to bail yourself out, always weigh the requirements so that you can arrive at an apt value for the loan. The amount should be sufficient to help you out, not less not more.
2. Look for the best options
Personal loans, mortgage loans, home equity loans are some of the options that you can go for. But, loan against a car title is the most befitting option for those looking for same day cash. These loans can be taken out with no credit history. Even the ones with no present job can benefit from these types of loans. Car Title Loans Canada provides these loans with monthly payments that can go as low as $97 per month. This amount is manageable and can be arranged easily into your lifestyle.
3.Go for competitive interest rates
Getting a car title loan from an untrusted source can be risky. We have been in this business for years. The interest rate matters!. We provide these loans at the lowest rate out there in the market. Our interest rates are lower than what our competitors charge. Less interest rate means less monthly payments to be made by the borrower.
4. Check for requirements
A healthy credit score is a major requirement for banks, credit unions and other financial lenders. Having a credit score of 560 or below is considered poor credit. This leaves the majority of Canadians with bad scores without much options for loans except from private lenders. We accept all credit types. Credit history or credit score is something we don’t check. Another crucial requirement for traditional loans is proof of income, which our loans don’t require.
5. Apply online
You can visit our website and fill out our easy application form which include your basic personal details like your name and address, year , make and model of your vehicle etc. Once you submit the form our loan agent will be in touch. Your appointment will be set up and you’ll be asked to bring in the documents and your vehicle for inspection at one of our branches..
6. Fill the paperwork
The paperwork is streamlined and very simple. This means less time for scrutinizing and even lesser time for approving the loan. We don’t believe in piling up papers by making customers sign useless documents. Short and precise process is easy for the borrower to understand.
7. Get your car inspected
Since you are getting a loan against a car title then in only makes sense that your vehicle needs to be verified. This helps us to calculate the amount of equity it holds. By equity we mean its present market value. The qualifying loan amount will depend on this value and some other factors like the condition of the car, any , damages etc.
8. Get the loan approved
After we receive your documents and inspection is done, we’ll approve your loan. We discuss the loan terms and loan conditions with you and have the loan agreements signed. You will also need to leave a spare set of car keys with us.
9. Drive off with cash
The last and the final step is you driving off in your car with your cash! As soon as the loan amount is handed to you, you are free to take your car. Throughout the loan term you keep your car while making regular monthly payments.
There are other key points interest in taking a loan against a car title. If you wish to pay off the loan before the term ends, you’re welcome to do so. There are no prepayment penalties for preclosure of the loan account. This helps the borrower to pay off the remaining amount and save money on interest.
Get in touch with us and turn your automobile into a cash machine. Call us toll free 1-855-653-5451 or simply apply online.
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