A special financing auto loan Regina Saskatchewan is a good lending option to consider when you need some extra cash fast. This secured loan depends on your vehicle’s equity instead of your credit score. This allows people who are underemployed, are bankrupt, or with poor credit standing to qualify for financial assistance. While title loans are very accessible and largely depend on your car’s title, there are factors that can impact your loan application.
4 Factors that Influence Title Loan Approval
- Applicant’s Age: As with other loans, every state will require that loan applicants are at least 18-years old. It’s because borrowers younger than 18 can’t be considered old enough to be held legally responsible to enter into agreements that require repayments.
- Borrower’s Income: Lenders will require proof of your capacity to pay for the loan. If the money you receive monthly (whether it’s from your salary, pension, disability, etc.) are less than the minimum calculated income, your application will be denied.
- Car’s Value: Since the car pawn loan will depend on the value of the vehicle, lenders will deny applications wherein the car is too old, has high mileage, or is salvaged.
- Type of Insurance: A lot of lending companies will also consider the insurance coverage of the vehicle. You’ll need to have comprehensive collision, liability, and mechanical breakdown insurance.
Trusted Car Loan Expert
Get the loan you deserve with Canada Car Cash. This car loan expert can offer you a percentage of your vehicle’s value. Their interest rates are 70% lower than their competitors and you get to keep your car during the loan contract. Their fast approval process means you get the money you need in less than an hour. Log on to their website to apply or call their toll-free number at 1-844-598-7631.
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