Bad Credit Loans Strathcona County Alberta Are what is Known as Collateral Vehicle Title Loans

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Bad Credit Loans Strathcona County Alberta Are what is Known as Collateral Vehicle Title Loans

Jul 12, 2015

We all know how it feels when we go through some kind of financial trouble like a medical bill emergency or urgent bill payments.

These money problems may often push borrowers to seek out forms of loans in order to borrow money to tide over the financial emergency. Unfortunately, not many people know how most unsecured bank loans or short term loans work, and in the process fall into another financial trap in seeking to solve the first one. Lenders of these unsecured and short term loans will loan money to people in dire need while stacking them with sky high interest rates and very short payment terms.

Collateral vehicle title loans work better

This is not the case with collateral vehicle title loans because these loans only need a fully owned vehicle and its car title as collateral to secure the loan. You even get to drive the car while repaying the loan. All you do is leave the car title with the lender who will place a lien on it for the duration of the loan term.

The great pros of collateral vehicle title loans

Simply put, car title loans are convenient and fast because you get the loan amount in one hour and the loan is approved also in one hour. Up to 70 percent lower interest can be offered against anything the closest competitor can offer. No credit check title loans have longer payment terms starting from 2 years and up to 5 years. There are no early payment penalty charges if the loan is paid off early.

What you need to qualify

Bring in the car for inspection and appraisal as well as the car title. This is a given, of course. The car is appraised for its true market value for the loan amount. Bring and show your valid driver’s license and any proof of permanent residence. You can borrow as little as $1,000 and as much as $35,000.

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.