Just Some Things to Remember When Applying for Bad Credit Loans Surrey British Columbia - Instant Loans Canada

Blog

Just Some Things to Remember When Applying for Bad Credit Loans Surrey British Columbia

Jun 19, 2015

Getting a collateral vehicle title loan for your financial problems will not be a problem because of the lowest possible interest rates and the 2-year or 5-year loan terms. Here are just a few things you need to remember when applying to get car title loans.

The true market value of the vehicle is the basis for the loan amount

Since a car is the collateral, the car must be completely owned and paid for with no outstanding loans on it and the car title must be lien free. Naturally, the loan amount will depend on the total true market value of your car in terms of how old and the condition of the engine. Vehicle title loans are granted in just one hour so long as the car qualifies as collateral.

Interest rates will always remain the lowest

Interest rates for car title loans are the lowest in the lending industry because as much as 70 percent lower interest rates can be offered against anything that the closest competition can ever offer.

You can choose a payment option adjustable term

When applying for no credit check title loans, the loan payment terms that will be offered will always start at 2 years and can be adjusted up to 5 years. From $1,000 up to $35,000 can be loaned, of course, still based on the true market value of the car. Should the loan be paid off early, no early payment penalty will be charged.

Bad credit or no credit will not matter with loan approval

Perhaps that’s why collateral vehicle title loans are also called bad credit loans. Should a borrower have bad credit or no credit at all, the loan will still be approved so long as the collateral qualifies. Credit ratings have no bearing on the loan approval.

All you need to submit for the loan

Aside from the car and car title as collateral, you need a valid driver’s license and proof of permanent residence.

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.