If you have a low credit score, are underemployed, or have been laid off, you’re automatically barred from applying for a bank loan. These conventional lenders demand proof that you can pay them back. What are your options if you need financial assistance but you’ve been laid off? You can borrow from family and friends or take on a second job. Another option is to apply for a special financing auto loan Calgary Alberta.
Can You Get a Title Loan if You’re Unemployed?
Yes, you can. Lenders offering car collateral loans are more open-minded and flexible than banks and other lending institutions. People from all walks of life can get this loan. You can qualify for this loan even if you’re a freelancer, are currently unemployed, or have a negative credit rating. This is due to the collateral involved. It acts as security and reassurance that whatever happens, the lender will get their investment back.
Aside from your car’s title, the lender will also require additional documents. Most lenders will want to see documents like proof of residency, proof of income, and government-issued IDs. While you can apply for this loan even if you don’t have a job, you’ll still need to prove that you have money coming in monthly. You can show your bank statements, pension slips, alimony and disability papers. Some lenders might even require the applicant to have a co-borrower for extra security.
The Best in the Industry
Enjoy hassle-free loans with Canada Car Cash. The company can offer you loans higher than what other lenders can give. They also have some of the lowest interest rates around, as well as flexible payment plans. Their fast approval means you can get the money you need within the day. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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