Compared to bank loans, challenged credit auto loans Burlington Ontario are relative newcomers to the lending game. It doesn’t make them any less distinguished or vital. However, the way title loans are designed makes them unique from other conventional lending practices. Here are some features that set this loan apart from the rest:
Key Features That are Unique to Auto Title Loans
- There are no credit checks. Bank loans are notorious for their credit checks and their credit score requirements. Traditional lenders often demand a score of 700 or better from borrowers. However, title lending companies eschew credit scores or credit checks. Instead, they require applicants to pledge their car as collateral.
- They have a super-fast service. The entire title loan application and approval process can be finished in one day. You can apply either online or by visiting the lender’s office, with some lenders allowing online car inspections. This, along with the minimal requirements, ensure that you can get the loan you need in 24 hours or less.
- The loan amount depends on your collateral. Another thing unique to car collateral loans is how much depends on the vehicle’s equity. Lenders typically accept only cars that are fully paid. The loan amount is a percentage of the car’s value, which is why it’s critical that you take good care of your vehicle.
Trusted Car Loan Expert
Apply for a loan with Canada Car Cash and you’re guaranteed of a fast and hassle-free experience. The company specializes in title loans and can offer you more money than other lenders. Their interest rates are 70% lower than their competitors and they offer extended loan terms. You can even get the money you need within the day. Log on to their website or call their toll-free number at 1-844-598-7631.
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