Bad Credit Car Loans Rock View County Alberta in Contrast to Car Pawning

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Bad Credit Car Loans Rock View County Alberta in Contrast to Car Pawning

Nov 01, 2015

Getting a collateral vehicle title loan is a much better option than going for car pawning.

Collateral vehicle title loans are loans that use a fully paid and owned car as collateral for the loan. The lender holds on to the car title while the loan is being paid in the given loan payment term, a lien being placed on the car title and is removed when the loan is fully repaid. The borrower is allowed to continue using the car while repaying the loan.

The big disadvantages of car pawning

With car pawning, you are required to bring your car to the pawnbroker and leave it there for the entire time you are paying back your loan. Although a car pawn is almost immediately approved even if the borrower has bad credit or no credit, the interest rate for car pawning can be enormously high, sometimes in three figures.

Credit ratings have no bearing on collateral vehicle title loans

Collateral car title loans will never take your credit report into consideration because no credit checks are ever done for the loan approval. Any person holding a current car title is eligible to apply for the loan so long as it is lien free.

Loan processing is fast

No credit check title loans only require the borrower to bring in the car for inspection and appraisal for its true market value to determine the loan amount. Anything between $1,000 and $35,000 can be borrowed. The borrower then should show a valid driver’s license and proof of permanent residence. Loan approval comes in just one hour.

70% lower interest with 2-year terms

Up to 70 percent lower interest rate can be offered against the closest competitor. Loan payment terms can start out at 2 years and can be flexible up to 5 years.

At Instant Loans Canada, we loan you money based on the value of your vehicle, not your credit score. That means that you have fast access to cash whether you have bad credit or no credit at all. Call Instant Loans Canada toll free at 1-866-973-5214 and apply now or apply online. It’s almost a fast-money guarantee that you can be out the door in an hour with your loan amount. We’ve got the process down pat. Be on the winning side of annoying debt. Just think of Instant Loans Canada as the beginning of a way out.