Collateral fast cash loans allow a borrower to pledge a car and car title as collateral for the loan. So long as the car is fully owned and paid for, it can become the collateral for the loan. Since the car can be driven by the borrower while the loan is being repaid, only the car title is left with the lender.
Unsecured loans can never compete with collateral vehicle title loans
With unsecured bank loans, the lender only approves the debt if the borrower’s credit rating is high. Anything lower and the loan is not approved. In contrast, collateral car title loans attract lower interest rates than an unsecured bank loan. Credit ratings don’t affect approvals for auto title loans so no credit checks are necessary.
The main benefits of collateral vehicle title loans
The loan amount is always based on the car’s true market value as well as engine condition. Lenders will always offer the lowest interest rate, making it the lowest in the lending industry. Repayment period for no credit check title loans is the longest and most flexible. Aside from these:
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.