What Requirements Are Needed When Applying for Car Loans Coquitlam British Columbia?

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What Requirements Are Needed When Applying for Car Loans Coquitlam British Columbia?

Jul 23, 2015

When applying for collateral vehicle title loans, the requirements needed and for submission are very minimal.

  • A valid driver’s license to prove that you are personally driving your own car.
  • Making the car available for a detailed inspection and appraisal for its true market value to determine loan amount.
  • Proof of permanent residence.
  • Proof of any vehicle insurance.
  • The car title that should be lien free to serve as collateral for vehicle title loans.

Borrowers should also make sure they meet the following criteria:

  • Your car should be no more than 8 years old.
  • Your car is fully paid off and with no outstanding loan or any lien on the car title.
  • Your car must have some type of insurance as protection for both borrower and lender since car title loans allow the borrower to continue using the car while repaying the loan.

 No credit checks required

No credit check title loans do not require any credit checks or income background checks for the loan approval because collateral vehicle title loans are approved regardless of the borrower’s loan history because the loan is already secured with the collateral.

What are the usual benefits from collateral vehicle title loans?

  • Depending on the loan amount, the loan term can range from 2 years and up to 5 years. Short term and unsecured loans will unfairly give you 30 or 60 day terms. Collateral vehicle title loans allow you to adjust between 2 to 5 years depending on your budget and ability to pay.
  • Loans can be as little as $1,000 and as high as $35,000, again depending on the true market value of the vehicle.
  • As much as 70 percent lower interest can be offered compared to whatever offer the closest competitor can offer. This makes this the lowest interest rate in the lending industry.
  • Can be paid off anytime within the loan term with no early payment penalty charges.

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.