A Better Option for Financial Emergencies is Car Loans Richmond British Columbia

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A Better Option for Financial Emergencies is Car Loans Richmond British Columbia

Jul 21, 2015

For emergency cash or other sudden urgent needs, take out a collateral vehicle title loans.

What can borrowers do if a bad credit history is keeping them from applying for traditional short-term loans and unsecured bank loans? Applying and getting secured vehicle title loans is one way to get some fast cash since no credit check or income verification is needed. Financial emergencies may unexpectedly strike anytime, but the answer will never be unsecured loans or short terms loans.

How do collateral vehicle title loans work?

All that is needed to apply for car title loans is a fully owned and paid for car as well as its corresponding car title to serve as collateral. The title must be lien free to qualify as collateral as well. The lender then evaluates and appraises the car based on its true market value to determine the loan amount. The lender holds on to the car title and places a lien on the title until the loan is fully repaid.

Qualifying for the collateral vehicle title loan

Aside from the fully owned car and its car title, all that a borrower needs to qualify for the loan is a valid driver’s license and any proof of any permanent residence. No credit check title loans do not require any credit checks from the lender since the loan is already secured by the collateral. The borrower can apply for as little as $1,000 and as much as $35,000.

Interest rates and payment term period

As much as 70 percent lower interest can be offered against anything that the closest competitor can ever offer. This makes collateral vehicle title loans the lowest interest rate in the lending industry. Loan payment terms start out at 2 years and can be adjusted up to 5 years. No early payment penalty will be charged should the loan be paid off early.

Instant Loans Canada is a leading collateral title lending company. This locally-owned and managed company has been helping individuals with their finances offering collateral title loans for vehicles. They give borrowers a chance to get quick cash easily, with the lowest interest rates and loan payment terms from 2 years to 5 years. For more information about the company, its title loans and other services, call Instant Loans Canada toll free at 1-866-973-5214 and apply now or apply online.