The Most Frequently Asked Questions about Equity Loans Sherwood Park Alberta - Instant Loans Canada

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The Most Frequently Asked Questions about Equity Loans Sherwood Park Alberta

Aug 25, 2016

How do you qualify for a collateral car title loan?

You can qualify for collateral equity loans if you fully own a fully paid car with its own and lien free car title, and carry a valid driver’s license.

What documents do you need to prepare and submit?

Basically, you need to provide three types of documents:

  • Proof of identity – A valid driver’s license.
  • Proof of a lien free car title because this is the collateral that is left with the lender as a lien will be placed on it until the loan is fully repaid.
  • Proof of permanent residence.

How much can you loan?

The loan amount will depend on the true market value of the car after it is inspected and appraised by the lender. Up to $35,000 can be borrowed based on this.

Will bad credit or no credit affect the loan approval?

No, not at all. Even if the borrower has bad credit or no credit this has no bearing on the loan approval because collateral vehicle title loans are secured by the collateral.

What about the interest and loan terms?

No credit check title loans can offer much lower interest rate versus any competitor. Payments can be as low as $97 per month. Loan payment terms are the longest up to 5 years.

Can you settle the loan earlier?

Yes, lenders of this loan allow this so if the loan is paid off early no early payment penalties will be charged on the borrower. Once the loan is fully paid, the lien is removed from the car title and said title is returned to the borrower.

People in need of fast emergency cash can always turn to Instant Loans Canada. We can get a car title loan fast and today for anyone in need of alleviating any financial headaches. All they need is to get in touch with Instant Loans Canada by calling the toll free number at 1-866-973-5214 and get approved in an hour. Get started today at the nearest Canada-wide network of convenient locations.