It is Never Hard to Qualify for Bad Credit Loans Airdrie Alberta - Instant Loans Canada

Blog

It is Never Hard to Qualify for Bad Credit Loans Airdrie Alberta

Jun 24, 2015

Will you qualify for a collateral vehicle title loan when you apply? So long as your car is fully owned it qualifies as collateral.

All you need to be and to have to qualify for any collateral vehicle title loan is to be at least 19 years old or older. Your car must be fully owned and paid for it to qualify as the collateral. It should not be more than 8 years old, though some cars can be negotiated if the engine performance is at high standard. You must have the car title fully in your name and the title must be lien free. Your car must have at least some kind of comprehensive insurance or collision insurance as security for both the lender and the borrower because the car continues to be used even while the loan is being repaid.

Borrowers of collateral vehicle title loans must be able to provide the following:

  • A valid driver’s license to prove that the borrower is the one driving the car.
  • Any proof of residency such as mail that has been sent to you at your address or any proof of utility billing or receipt.
  • Your vehicle’s registration and insurance.
  • The vehicle title that must be lien free because the lender needs to place a lien on the title until the no credit check title loan is fully paid.

Loan rates and terms

Loan interest rates are the lowest in the lending industry for car title loans. In fact, they can be offered as low as 70 percent lower than what the competition can offer. Loan payment terms are also adjustable and reasonable starting at 2 years and up to 5 years.

No early payment charges

No early payment penalties will be charged if the loan is paid off early. The loan is already secured by the collateral so no early payment penalties, high interest, short terms, and even credit checks are necessary for collateral vehicle title loans.

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.