These are the Usual Inquiries about Bad Credit Loans Wabamun Alberta

The qualifications

You need to be a permanent resident in your area for at least a year and over, are at least 18 years old, and own a fully paid land vehicle with its own vehicle title that should be lien free.

The documents to submit

• A valid driver’s license to prove that you are driving your own vehicle.
• Proof of vehicle ownership by presenting the car title. The car title is left with the lender as collateral so the lender can place a lien on it until the loan is fully paid and the lien is then removed.
• Any proof of permanent residence.

The loan amount

Based on the appraised true market value of the car, vehicle title loans allow you to borrow as little as $1,000 and as much as $50,000.

Bad credit history and no credit history

Car title loans are considered as secured collateral loans so loans are approved in one hour regardless of bad credit history or no credit at all. No credit checks are done by the lender.

Interest rates

Up to 70 percent lower interest rate can be offered against any offer from the closest competitor. This makes no credit check title loans the lowest interest rate in lending industry.

Loan payment terms

Terms for loan payments start out at 2 years and can be adjusted up to 5 years. Yes, 2 to 5 years just to show that the former isn’t a typo. This means the borrower can adjust monthly payments depending on the ability to pay back the loan.

Early loan settlement

If the loan is paid off early, no early payment penalty will be charged. Once the loan is fully paid, the loan is no longer outstanding and the lien on the car title is removed by the lender and the car title is returned to the borrower.

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.