Secured collateral car title loans means the collateral becomes a secured debt. The collateral is in the form of a fully owned car and its lien free car title. The car title must be lien free because the lender needs to place a lien on the title until the loan is fully repaid.
Unsecured bank loans cannot compare with collateral car title loans
With an unsecured bank loan, the loan will not be approved if the borrower has bad credit or no credit. Unsecured bank loans also carry very high interest rates. Bad credit or no credit has no bearing with the loan approval of collateral Victoria British Columbia car loans because the loan is already secured by the collateral.
Attractive lower interest rates and longer repayment terms
Much lower interest rate can be offered against the closest competitors. Repayment terms are the longest and most flexible that can ever be offered.
Other major benefits of collateral vehicle title loans:
- No credit checks are needed to be done.
- No credit check title loans will base all loan amounts on the car’s true market value. This determines if you can borrow as much as $30,000.
- You can continue to use the car while repaying the loan because the loan is secured by the collateral.
- No early payment penalty will be charged if the loan is repaid in full earlier than its stipulated loan terms.
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.
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