Cost of living is becoming expensive day by day and sometimes it is very tough to have control over your finances. Having a bad credit score is very common these days, but at the same time leave you stressed. This is because, with the bad credit history, getting a loan from a financial organization or bank is very tough. They usually require an excellent credit history in order to provide loans. Also, they have a longer loan process that requires a long verification process and lengthy paperwork requirements.
At this point of time you can need an alternate solution to get cash for your finances. If you own a lien free car, you can easily use it as an asset or collateral to get the loan. These are called car title loans. The loan amount for such loans depends upon your vehicle’s market value and condition. The higher the value, the more amount you can get.
While applying for a loan with a bank, they usually check your credit history. But with car title loans, this is not the case. There are no checks on credits with such loans and no employment checks. So people with poor credit and no job can easily apply for these loans if they are facing any financial problems.This is because a title loan is secured against your vehicle’s title.Your car is inspected to decide the amount that you can qualify for. Its market value and condition will decide the exact amount. Many organizations provide different amounts.
The Best Opportunity For People Who Own A Lien Free Car!
If you own a lien free car and need cash for your money problems, then car title loans are the best option for you. You can easily get cash on the same day by using your vehicle as an asset for your financial problems.
These loans usually have longer terms for payment as compared to bank or other loans. This means that you get a chance to pay off your title loan whenever you want without stressing yourself out. Also, If you pay off the loan before the completion of the term, you will not be charged extra fees as there are no prepayment penalties in such loans.
The title loan organizations allow people to use their car as well for the entire loan duration. This is because this loan is secured against its title and not the car itself. So, people can use their car as normal for their day to day work. This is one of the biggest advantages of using your asset as collateral for this loan.
Minimum Requirements Can Get You Approved For A Loan!
You need not waste time unlike other loans for getting approved. You just need to submit all your minimum documents of your vehicle and you are good to go. Here are some of the requirements that will get you approved.
● You need to own a car which is not much older
● You need to have your car’s lien-free title
● You should be the age of maturity. This means 18 years or above
● Your valid Canadian Driver’s license should be there with you.
● Your proof of car ownership is required.
● Your car’s second set of keys are required
● There should be registration and insurance of your vehicle with you
The Loan Approval Process Is Fast!
The loan process is quite fast. You are just required to fill out and complete the application process online with minimum paperwork according to the lending organization. You will be approved within some minutes of applying and can get cash for your financial requirements.
4 Simple Ways of Getting Cash Instantly WIth A Car Title Loan:
Call or Apply online: You can either call the organization or apply online on their website for loan approval.
Paperwork Part– You just have to provide the necessary documents which are minimum. After this, you will be verified.
Get Approval and Receive cash: After all your documents are verified, you will be approved for the loan quickly. You can walk away with the loan amount.
Keep Your Car WIth You: You can keep your car driving with you while you complete the loan process and drive away with the loan amount.
Choosing The Best Lending Organization
But understanding how you can use your vehicle as an asset and collateral, you can easily apply for these car title loans for your financial crunch. Many organizations provide these eloans at the best and lowest interest rates in the industry. You can choose the one that best suits your requirements and according to the loan amount that you need to borrow. Some of them are listed below:
1. Fast Canada Cash
2. Canadian Equity Loans
3. Equity Loans Canada
4. Premier Loans Canada
5. Loan Center Canada