People who need to come up with additional cash fast can turn to auto title loans. This is a secured loan that came out during the 1990s. It has slowly gained in popularity and acceptance since then. One of the main requirements of a poor credit car loan Surrey British Columbia is a lien-free vehicle to be used as collateral. You’ll also have to agree to its inspection.
Why is it Required?
An auto title loan revolves around the borrower’s collateral. The car equity will determine both approval and loan amount. A car inspection will help the lending company assess its value. It also allows them to verify the details in your application form.
Cars depreciate at a fast rate. Some will argue that a car starts losing its value the minute it’s driven out of the dealership. The inspector will look at several things when evaluating your car. They’ll check the overall condition of the exterior. Does your car have dents or scratches? Is it showing signs of rust? The interior is also checked for cleanliness and damage. The inner system will also be checked. This means the engine, filters, brakes, etc. Factors like mileage and the car’s model and age are also considered. The lending company wants to see a vehicle that’s well-maintained.
Borrow More Money than Any Competitor has to Offer
Applying for a loan is simple with Canada Car Cash. Our company specializes in title loans. We can offer more money than other lenders. Our interest rates are 70% lower and we have the lowest monthly payments around. You don’t have to worry about credit checks. Sign up on our website or call our toll-free number at 1-844-598-7631.
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