What is a collateral car title loan?

A collateral auto title loan is a secured loan using a fully owned car and its car title as the collateral. The car title must be lien free. The car title must be so because it is left with the lender as collateral and the lender places a lien on it while the borrower is paying off the loan. The lien is removed and the car title is returned when the loan is fully repaid. Payment terms are the longest up to 4 years.

Is it hard to apply for a collateral car title loan?

Collateral quick cash loans are approved in one hour after the car is inspected and appraised for its true market value. This determines the loan amount that can be based on this. All the borrower then needs to show is a valid driver’s license and proof of permanent residence.

Do collateral car title loans really have low interest rates?

With collateral car title loans, the interest rate is much lower than unsecured bank loans or short term loans. These loans have the lowest interest rates in the whole lending industry. Payments can be as low as $97 per month.

Will the loan be approved even if I have bad credit?

Whether the borrower has bad credit or no credit, any credit rating has no bearing on the loan approval of no credit check title loans. Because of this lenders do not carry out any credit checks on borrowers.

For more information about collateral car title loans in Peel 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.