Securing a Car Loans Whitby Ontario

November 22, 2016

A secured loan pledges collateral from the borrower for the loan. The collateral is in the form of a fully owned car and its lien free car title.

Secured loan against unsecured bank loans

The opposite of a secured loan is the unsecured loan. Unsecured bank loans or some short term loans won’t be approved if the borrower has bad credit or no credit. Should a loan be approved, sometimes the waiting periods can stretch to weeks. Worse of all, these loans carry very high interest rates. On the other hand, collateral car title loans are always approved regardless of bad credit or no credit. The loan is approved in just one hour.

Two great benefits of collateral car title loans

When you apply for no credit check title loans, you get the lowest interest rates in the lending industry. Payments can be as low as $97 per month. Loan payment terms are the longest up to 4 years.

All the requirements that are needed

  • Have the car inspected and appraised for its true market value to determine the loan amount. You can borrow up to $40,000 for collateral vehicle title loans.
  • The car title must be lien free. This is because the lender needs to put a lien on it for the term of the loan. Once the loan is paid off, the lien is removed and the car title is returned to the borrower.
  • Your valid driver’s license.
  • Proof of permanent residence.

For more information about collateral car title loans, or if you’re a subprime borrower, get in touch with Instant Cash Canada. You credit history will not matter with us because what’s important is the car title loan you need. All you need is to call Instant Cash Canada now toll free at 866-840-7395. Apply now and our dedicated team will immediately get to work and gather all the information necessary to get you the loan you need.