Get Cash Same Day Strathcona County Alberta Means Low Interest Collateral Car Title Loans

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Get Cash Same Day Strathcona County Alberta Means Low Interest Collateral Car Title Loans

Sep 22, 2015

Getting emergency cash using your car through collateral vehicle title loans is the speediest way to solve those unexpected money problems.

Before new legislation was ever passed in the provinces, short term loans and unsecured loans were a very expensive way to borrow money. New legislation passed now limits the amount of interest that can be charged from loans and loan terms now have to be given longer periods of time. In the case of collateral vehicle title loans, no such rules are necessary since interest rates are the lowest in the lending industry and loan terms are the longest and most flexible.

Legislation was necessary due to the unscrupulous and dishonest practices of lenders of unsecured loans and short term loans who took advantage of people in need of emergency funds and for those with bad credit scores since these loans normally won’t be approved for such borrowers. Also, interest rates for such loans tended to go into three figures.

How does a collateral vehicle title loan work?

To get a loan, you give the lender the car title in return for a cash loan. You keep the car and the lender keeps the title that serves as collateral since the lender places a lien on the title until the loan is fully repaid, and so the lien is removed. Collateral car title loans can offer up to 70 percent lower interest rates against the closest competitor out there.

Be smart in spite of the legislation

No credit check title loans also mean that the lender doesn’t need to do any credit background checks on any borrower for the loan approval. The loan is approved even if you have a bad credit history. You can borrow as little as $1,000 or as much as $35,000 depending on the appraisal for the car’s true market value. All you then need to do is present your valid driver’s license and proof of permanent residence.

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.