Can I Get an Auto Finance Loan Sherwood Park Alberta Using a Salvaged Car?

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Many lending companies offering title loans are quite particular on the collateral that can be used as the loan depends on its value. It’s why most companies prefer newer model cars. It doesn’t mean you can’t use an older vehicle or a salvaged car to get auto finance loan Sherwood Park Alberta though. But it will be more difficult.

Ways to Get a Title Loan Using a Salvaged Vehicle

  • Check with rural banks. Getting a loan using a car that’s been written off as a total loss is next to impossible with the larger financial institutions. Your best bet is to try small or rural banks as well as credit unions. These groups sometimes offer car collateral loans to compete with bigger banks.
  • Get a comprehensive insurance policy. Good coverage on your car insurance will help improve your chances of getting pre-approved for a title loan. All lending companies need to be assured that they will get their investment back and comprehensive insurance will do the trick. So, ask your insurance provider about their policies regarding salvaged vehicles.
  • Make sure you have the right documents. Salvaged cars need comprehensive documentation if you want to get approved for a loan. You’ll need a report on the original damage assessment, a list of repairs done, the receipts, and an inspector’s evaluation of your car.

Number One in the Industry

Get a loan the fast and easy way with Canada Car Cash. The company specializes in title loans and can offer a percentage of your car’s value. Their interest rates are 70% lower than the competition and they offer extended loan terms. You can even get the money you need within the day. Log in to their website or call their toll-free number at 1-844-598-7631.

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