Car Title Loans Canada
Faced with an emergency medical bill, or sudden home repairs? Sudden bills can mean our wallets take a BIG hit. Even those with savings sometimes don’t have enough liquid cash to cover those short-term needs. A car title loan lets you borrow money using your vehicle title as collateral. This type of secured loan will allow you to get an amount based of your vehicle’s value and condition. Title loans are a helpful tool for people with low or bad credit to resolve their financial crisis.
Car title loans do not require added credit history details or any debt related history, just the car title. Lenders will put a lien on the car title in exchange for the loan amount. When the loan is repaid, the lien is removed, and the title of the car is returned to the owner. When life causes unexpected financial burdens, a car title loan can get you the money you need fast without forcing you to sell assets or compromise other funds.
To qualify for a car title loan, you need to be the sole owner of your vehicle, have no other liens against the car and it must be registered and insured in your name.
What are the benefits of car title loan?
Getting a loan against your vehicle is one of the simplest, ways to deal with short term cash shortfalls, without dealing with cumbersome paperwork and delays by trying to get another type of secured loan.
Quick Process: Because there is no need for a credit check, processing this loan is fast. It’s simple, take ten minutes to enter all the required information online and submit. In the majority cases, the loan is given on the same day.
No History: These loans do not need your credit history to provide you with the cash you need. Your car title is the collateral; therefore, approval is almost guaranteed.
Still Usable: You get to keep and use your car during the loan period. Which means your life is not affect more adversely and you can still tend to the things you need to do.
Relieving stress: From time-to-time we all need a little helping-hand to get through a tough time. These loans are designed to get cash in hand quickly, alleviating stress of a financial burden.