Some Frequently Asked Questions about Fast Cash Today Cochrane Alberta


Some Frequently Asked Questions about Fast Cash Today Cochrane Alberta

Oct 05, 2015

These are the frequently asked questions pertaining to applying for a collateral vehicle title loan.

What is a collateral vehicle title loan and what makes it secured?

Collateral vehicle title loans are secured loans using any car or land vehicle and its vehicle title. The borrower puts up a fully owned and paid for vehicle and vehicle title as collateral for the loan. This type of loan carries very low interest rates compared to unsecured loans or short term loans. However, only the car title is left with the lender since a lien is placed on it and is removed when the loan is fully repaid. The title is then returned to the borrower.

How do interest rates fare with collateral vehicle title loans?

Collateral car title loans have the lowest interest rates in the whole lending industry. Up to 70 percent lower interest rate can be offered against the closest competitors.

Is a collateral loan limited only to vehicles?

The vehicle and vehicle title simply secures the loan as the collateral. Stocks, bonds, land property, a vehicle, a home, or even a farm are common items used as collateral so long as the property is owned outright by the borrower. In the case of collateral no credit check title loans, a fully owned vehicle and its vehicle title are the prime collateral since the type of loan is for land vehicles only.

How long is the loan payment term?

Loan payment terms for collateral vehicle title loans start out at 2 years and run up to 5 years. When applying for the loan, no credit checks will be done by the lender since the loan is already secured by the collateral. As little as $1,000 or as much as $35,000 can be borrowed as determined by the true market value of the vehicle after it is inspected and appraised. When this is done, the loan is approved in one hour.

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.