Collateral car loans simply use a fully owned and paid car and its car title as collateral. Credit ratings aren’t necessary for loan approval. For people looking for the best solution for those financial emergencies, this loan carries little or no risk to the borrower and lender even when compared to unsecured bank loans or short term loans.
How does a collateral vehicle title loan work?
When you need emergency cash, you can use a fully owned car and its car title as collateral to get collateral car title loans. All you need to do is bring in your car for inspection and appraisal based on the car’s true market value and show your valid driver’s license and proof of permanent residence. Of course, for the car title must be lien free.
Paying off the loan
This type of loan is not short term or unsecured since the loan payment terms are the longest and most flexible that can be offered. With no credit check title loans no credit checks are needed for loan approval. Your loan is approved in one hour. Much lower interest can be offered against the closest competitor and will beat out any lender out there for lower interest.
You keep your car while paying the loan
Because the loan is already secured by the collateral, you can keep driving your car while paying off the loan. No early payment penalties will be charged if the loan is repaid early.
Car title loans or sometimes called equity loans is the only service offered by Canada Car Cash. This means that Canada Car Cash can loan more money with less requirements. We can help you by calling us now or getting in touch online. We can give you an estimate of what you really qualify for. Call us at 1-844-598-7631.