Bad Credit Loans Thorsby Alberta Are Never High Interest Loans

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Bad Credit Loans Thorsby Alberta Are Never High Interest Loans

Jul 21, 2015

If you are still paying for 100 percent interest for unsecured or short term loans, you need to shift to collateral vehicle title loans.

Desperate borrowers with bad credit scores or with no credit history can use their car as collateral when applying for collateral vehicle title loans. You can loan as little $1,000 or as much as $35,000 and the loan terms can be adjusted up to 5 years.

The market for short term and unsecured loans is huge because not many people know about collateral vehicle title loans.

Vehicle title loans are the new pitch because of the great benefits they bring to consumers. But not many people are familiar with this type of loan because of too many aggressive ads that continually pitch for short term loans and unsecured loans. What the ads don’t tell you is that both carry up to 100 percent interest rates and loan approval is seldom if the borrower has bad credit. If a loan is approved, the interest goes up even higher.

Collateral vehicle title loans have low interest and long terms

To lenders, there is almost no risk with car title loans because they are completely collateralized. This is why lenders can offer up to 70 percent lower interest against the closest competitor. That means the lowest interest in the lending industry. Loan payment terms are adjustable and can start at 2 years and run up to 5 years, depending on the borrower’s budget and ability to pay.

No credit checks ever needed

A unique characteristic of no credit check title loans is that lenders don’t make any assessment of a borrower’s credit rating so they don’t run credit checks. And if the loan is repaid earlier, no early payment penalty will be charged. The loan is simply deemed as paid in full and the lender removes the lien on the car title and returns the title to the borrower. Loans are approved after one hour so long as the collateral is in order and a valid driver’s license and proof of permanent residence can be presented.

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. You’ll speak with a member of our dedicated team and see how Instant Loans Canada can help.