Car Title Loans Manitoba

December 20, 2016

Collateral car title loans are secured loans that use a fully owned car and car title as collateral to obtain the loan. We have all faced our share of unexpected financial problems. When these events happen while we’re on a tight budget, this can leave us short on cash.

Traditional loans won’t go far

While car title loans Winnipeg Manitoba never takes your bad credit into consideration for the loan approval, unsecured bank loans and short term loans will never approve a loan if you have bad credit. And even if your loan is approved, the interest rate will be astronomically high because of your bad credit. With a collateral auto title loan, credit ratings have no bearing on the loan approval.

Collateral car title loans only come from legitimate licensed lenders

This means that no credit check title loans are issued only from licensed and legitimate lenders that deal exclusively with collateral auto title loans. The lender simply holds on to the car title and places a lien on it until the loan is fully repaid. This means that the borrower gets to keep driving their car while repaying the loan. Loan repayment terms are the longest up to 4 years.

Interest rates are the lowest compared to traditional loans

Unsecured bank loans and short term loans will always charge very high interest rates because the loan is not secured with collateral and is dependent on credit ratings. On the other hand, collateral auto title loans have the lowest interest rates in the whole lending industry. Payments can be as low as $97 per month.

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.