Car Loans Leduc Alberta Are Approved Even for Borrowers with Bad Credit

August 18, 2016

You only need collateral even with bad credit

Collateral car loans are loans that use a fully owned car and its car title as collateral. It is this collateral that makes the loan secured because the loan amount is covered by the true market value of the car. You simply give the lender the car title for the duration of the loan payments and the lender places a lien on the car title. This lien is removed after the loan is fully paid and the car title is returned to the borrower.

You can personally apply or fill out a form and apply online

Of course, aside from your application, you need to show the lender:

  • Your fully owned car and the car title for inspection and appraisal for its true market value.
  • Proof of permanent residence.
  • A valid driver’s license.

Based on the car’s true market value you can borrow for collateral car title loans.

How much interest rates are applied?

Very low. In fact the lowest. No credit check title loans interest rates are the lowest in the whole lending industry, especially when compared to unsecured bank loans and short term loans. Much lower interest rate can be offered against the closest competitor. Payments can be as low as $97 per month. Loan terms are the longest up to 4 years.

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.