The collateral for equity loans is a fully owned and paid for car and its lien free car title. This is the collateral that secures the loan. The car title is left with the lender because the lender needs to put a lien on it for the duration of the loan term, or until the loan is fully paid. The lien is removed and the title promptly returned to the borrower

A secured collateral vehicle title loan is really secured

The opposite of a secured loan is the unsecured loan, usually a bank loan. The lender may only approve the loan if the borrower’s credit is impeccably good. Interest rates of unsecured bank loans are also very high. However, with collateral car title loans, no credit checks are needed to be done because credit ratings have no bearing on the loan approval.

Lowest interest rates

No credit check title loans have the lowest interest rates than any unsecured loan. In fact, interest rates are much lower than other competitors and this makes it the lowest in the lending industry. Payments can be as low as $97 per month.

The great aspects of the loan

Aside from bad credit not mattering with the loan approval, repayment periods or loan terms are the longest at 4 years.

What to submit for loan approval

• Bring in the car and car title for inspection and appraisal for the loan amount based on the car’s true market value.
• Valid driver’s license.
• Proof of permanent residence.

For more information about collateral car title loans in Georgina Ontario, or if you’re a subprime borrower, get in touch with Instant Cash Canada. You credit score 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 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.