Traditional lenders will automatically shy away if your credit report shows missed payments, high debts, or collection agency accounts. This means you will be denied a loan even before you fill up an application form. But not all lenders are like this though. Companies offering loans based on car equity loan Ottawa Ontario are more flexible. While no loan is 100% guaranteed, there are things you can do to help your case.
Proposals for Getting a Title Loan Even with Bad Credit
- Clear collection accounts. Debts that have been routed to collection agencies are a large black mark on your credit report. Paying off these accounts can help boost your score enough to prompt a lender to give you a chance.
- Include positive information for your report. If you have certain phone bills or utility accounts in your name and have been paying them diligently for years, you can include them in your report. The payments will be recorded and will add more meat to your credit history.
- Wait it out. Negative information (ex. payment delinquencies, defaults, etc.) only stay for about seven years on your report. Check your records and see if any data are set to be dropped soon. If you’re not in a hurry, wait before getting a loan.
- Have a cosigner. Ask a friend or family to help you by cosigning an auto finance loan. This provides an extra layer of security for the lender since there will be someone else taking over the loan in case the original lender defaults.
Lowest Interest Rates in the Industry
Enjoy affordable loans with Canada Car Cash. The company can loan you a percentage of your car’s value as long as it is paid off and insured. They also have the lowest interest rates around and can provide you with instant cash in less than an hour. Sign up at their website or call their toll-free number at 1-844-598-7631.
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