Collateral car title loans use a fully owned car and car title as collateral. When you get approved for this loan you simply pledge your car and car title as collateral in order to get a loan amount. For people with no other options, this loan can be the most reasonable choice. The risk for both borrower and lender is at a minimum because the loan is already secured by the collateral.
How do collateral car title loans work?
When you need emergency cash, you can use the car title of your fully owned car to get a loan against the true market value of the car. You can get as much as $30,000 for the loan amount. The amount is also based on the car’s engine and body frame and the car is not more than 8 years old. No credit checks are needed for collateral vehicle title loans so even if a borrower has bad credit the loan is still approved.
Loan payment terms
No credit check title loans are emergency loans, but don’t have short term payment periods. Loan payment terms for these loans are the longest and the most flexible to be offered.
The lowest interest rates
High interest rates are one of the biggest drawbacks to unsecured bank loans or short term loans. However, this loan carries the lowest interest rates in the whole lending industry and even lower when compared to the loans mentioned above. Much lower interest rate can be offered versus the closest competitors out there.
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 you more money with far 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 now toll free at 1-844-598-7631 or apply online.