Unsecured bank loans versus secured loans
With unsecured bank loans and short term loans the lender only approves the loan if the borrower has good credit. But with collateral vehicle title loans, credit ratings won’t affect loan approval. As a secured collateral loan it only needs a fully owned car and lien free car title as collateral to secure the loan so no credit checks are needed.
The main thrust of secured loans
The main thrust of every secured loan is to allow borrowers to use their fully owned car as collateral for collateral car title loans. The car is inspected and appraised for its true market value to determine the loan amount. As much as $30,000 can be borrowed based on this. The car title is left with the lender so a lien can be placed on it. The lien is removed when the loan is fully repaid. Because of this the borrower can continue using the car while repaying the loan.
The interest rates for this loan are the lowest in the whole lending industry and the lowest when compared to unsecured bank loans and short term loans.
Advantages of applying for this loan:
- No credit check title loans are secured loans so credit rating will not matter at all with the loan approval that comes in one hour.
- So long as the car is fully owned and the car title is lien free, it qualifies as collateral.
- Loan repayment terms are the longest and most flexible ever.
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 you more money with far 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 now toll free at 1-844-598-7631 or apply online.