The Lien on Your Collateral Car Title Loan: Fast Cash Today Thorsby Alberta

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The Lien on Your Collateral Car Title Loan: Fast Cash Today Thorsby Alberta

Oct 26, 2015

When you apply for a fast cash collateral vehicle title loan, take note of that lien on the car title.

The word lien means the right to take away the property of a borrower who defaults on payments on a contract. You usually find a lien on a car title when the fully owned car and its car title are used as collateral for collateral vehicle title loans. These are loans that can provide fast cash for financial emergencies and carry lower interest rates with longer payment terms and other great benefits.

Settling the lien on the collateral vehicle title loan

To apply for collateral car title loans, the borrower needs to put up a fully owned vehicle and its vehicle title as collateral for the loan. The borrower should also make sure that the car title should be lien free. The lender will then assess the true market value of your vehicle to determine how much loan amount you are allowed to the maximum. The minimum is $1,000 but as much as $35,000 is allowed to be borrowed.

Lowest interest, longer terms

Interest rates for a collateral vehicle title loan are the lowest in the whole lending industry and when compared to traditional unsecured bank loans and short term loans. Up to 70 percent lower interest rate can be offered against the closest existing competitor out there. Loan repayment terms are generally reasonable, starting out at 2 years and can extend or flex out up to 5 years.

No credit checks from the amount that you borrowed

No credit check title loans mean no credit checks will be made by the lender because the loan is already secured by the vehicle and vehicle title as collateral. Likewise no proof of any form of income will be requested, but some form of proof is needed for permanent residence. The borrower even continues using the car while paying off the loan.

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.