Car Loans Stony Plain Alberta Have the Best Benefits for Those Sudden Money Needs

Blog

Car Loans Stony Plain Alberta Have the Best Benefits for Those Sudden Money Needs

Aug 25, 2015

Getting a collateral vehicle title loan is fast, simple, involves no credit checks. You don’t even need to worry about interest rates because they’re so low.

Collateral vehicle title loans are secured loans tied to a collateral asset, in this case, such as a fully owned car and its car title. The lender places a lien on the car title to secure the loan and this lien is removed after the loan is fully repaid. Though the vehicle serves as collateral, the vehicle is not left with the lender so the vehicle title becomes the collateral that is left with the lender.

Vehicle title loans are much better than unsecured loans

With unsecured loans, they won’t be approved unless your credit rating is impeccable and beyond. You may be approved with some short term loans, but with both you face very high interest rates and very short 30-day or 60-day payment terms. With no credit check title loans, no credit checks are needed for the loan approval. This is because the loan is already secured by the collateral. Also, you get to continue using your car while paying off the loan.

Vehicle title loans have the lowest interest rates

Car title loans carry the lowest interest rates in the lending industry. Up to 70 percent lower interest rates can be offered against the closest competitor. Unsecured loans or short term loans are notorious for the highest loan interest rates. Loan payment terms for collateral vehicle title loans run from 2 years and can be adjusted up to 5 years.

Very little requirements to submit

With collateral vehicle title loans, all you need to prepare is your vehicle for a detailed inspection and appraisal for its true market value, the vehicle title, your valid driver’s license, and any proof of permanent residence. Loan approval comes in one hour and you can borrow as little as $1,000 or 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.