Car Loans Strathcona County Alberta are Completely Different and Better than Unsecured Loans

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Car Loans Strathcona County Alberta are Completely Different and Better than Unsecured Loans

Aug 25, 2015

Collateral vehicle title loans are far different from unsecured loans and short term loans and will never drive you to more debt.

Collateral vehicle title loans are backed and secured by an asset, in this case, your car or vehicle that serves as collateral. Since you can’t leave your vehicle with the lender, you need a clear and lien free car title as the collateral to leave with the lender so a lien can be placed on it until the loan is fully repaid. With short term loans or unsecured loans the borrower won’t be approved unless the credit history and score is good. Also, short term and unsecured loans carry the highest interest rates.

Vehicle title loans need no credit checks

Car title loans are secured loans so credit history or credit scores have no bearing for the loan approval. This is because the secured loan is backed by the collateral. This is why sometimes these loans are also called no credit check title loans.

Loan approval is fast

Secured collateral vehicle title loans allow borrowers to get approved in one hour and with the lowest interest rates in the lending industry. When compared to unsecured loans, vehicle title loans have the lowest rates. Up to 70 percent lower interest rate can be offered against the closest competitor. Repayment periods start off at 2 years and can be adjusted up to 5 years.

What you need to submit for requirements

Unlike unsecured loans that need tons of paperwork and requirements, collateral vehicle title loans only need the vehicle itself for inspection and appraisal for the loan amount, the vehicle title, your valid driver’s license, and any proof of permanent residence. The borrower also gets to continue using the car while paying off the loan during the terms. Up to $35,000 can be borrowed as loan amount.

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.