Title loans can be used for just about anything. It’s one of the reasons why this secured loan is so appealing. Despite its popularity, there’s still a lot of misinformation about it. Here’s what you should keep in mind when applying for a poor credit car loan Kamloops British Columbia.
Important Facts About Title Loans
- You can apply for one regardless of your credit score. Because title loans require collateral and have short-term contracts, they’re not dependent on the borrower’s credit standing.
- Application forms are simple. Most online title loan companies only require a short application form to be filled up. You don’t have to worry about writing everything down in triplicate. You’ll be required to provide proof that you own the car and to have it inspected. For that, you can either take your car to the lender’s local office or send photos.
- Turnaround time for applications is quick. Because there’s no waiting period or extensive background checks, borrowers typically get the money they need on the same day they applied. It’s why these title loans are hassle-free and convenient.
- Minimum credit score loans are based on the collateral’s value. The loan amount will depend on the vehicle’s estimated value. This means you won’t get your car’s total market value, but around 20 to 50% of it. This makes it easier to pay back the loan and minimizes the risk of car repossession.
Faster Than the Competition
Experience hassle-free lending with Canada Car Cash. This title loan specialist can offer higher loans with fewer requirements. Their interest rates are 70% lower than their competitors and they offer loan terms of up to seven years. Their quick approval process guarantees you get the money you need on the same day. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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