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Vehicle Title Loans Brooks Alberta is Much Different from Short Term Loans or Unsecured Loans

July 6, 2016

Collateral vehicle title loans are secured loans because they are secured by the collateral that is your car and the car title. These are all you need to get this loan. So long as your car is fully paid and with no outstanding loans on it, it serves as the collateral. The car title is the actual collateral that you leave behind with the lender because you don’t need have to leave your car behind. This means you continue using and driving your car while paying off the loan.

Your credit score has no effect

Even if you bad credit or none, this has no effect whatsoever on applying for collateral car title loans because lenders will not do any credit checks. The loan is already secured by the collateral so your credit rating will not matter for the loan approval. Unlike unsecured bank loans that need good credit to be approved, collateral auto title loans are approved in one hour with no credit checks needed.

Low interest rate is the ultimate benefit

No credit check title loans aren’t like car pawns or short term loans that carry really huge interest rates. The interest rates of this loan are the lowest in the lending industry. Payments can be as low as $99 per month. Repayment terms are the longest up to 4 years.

Very little preparation needed

All you need is to bring in your car for inspection and appraisal to determine the loan amount based on the car’s true market value. Present your valid driver’s license and 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 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.