The Most Frequently Asked Questions about Car Title Loans Aurora Ontario
How do you qualify for a collateral car title loan?
You can qualify for collateral car loans if you are at least 18 years old, fully own a car with its own and lien free car title, and carry a valid driver’s license.
What documents do you need to submit?
Basically, you need to provide three types of documents:
- Proof of identity like a valid driver’s license.
- A lien free car title since this is the collateral that is left with the lender as a lien will be placed on it until the loan is fully repaid.
- Proof of permanent residence.
How much can you loan?
The loan amount will depend on the true market value of the car after it is inspected and appraised by the lender. Up to $40,000 can be borrowed based on this.
Will a bad credit rating affect the loan approval?
No, and even if the borrower has bad credit or no credit this has no bearing on the loan approval because collateral vehicle title loans are secured by the collateral.
What about the interest and loan terms?
No credit check title loans can offer 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.
Can you settle the loan earlier?
Yes, so if the loan is paid off early no early payment penalties will be charged on the borrower. Once the loan is fully paid, then that ends the loan, and the lien is removed from the car title and is returned to the borrower.
For more information about collateral car title loans in Aurora Ontario, 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.