Why Get a Car Pawn When You Can Get Bad Credit Loans Calmar Alberta That is Far Better?

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Why Get a Car Pawn When You Can Get Bad Credit Loans Calmar Alberta That is Far Better?

Jul 01, 2015

Rather than going to a car pawn, why not just take out a collateral vehicle title loan instead.

What if you desperately needed $1,000 or as much as $35,000 to get through some emergency medical bill or a sudden financial shortage? If you fully own your car and the car title is lien free, you can always apply for a collateral vehicle title loan. It’s far better than a car pawn that has a lot of disadvantages to it.

Here’s how a car pawn works

Your car’s true market value is around $5,000. The pawnbroker gives you $1,000 in exchange for the title to your car. Aside from the title, you need to leave your car with the pawnbroker. You agree to pay the loan back in 30 days or 60 days. Car pawns will also charge astronomical interest rates by as much as 100%. On top of this, for those 30 or 60 days you don’t have a car to use.

Here’s how collateral vehicle title loans work

We start out with interest rates since this is the main benefit for vehicle title loans. The interest rates are the lowest since the lender can go up to 70 percent lower than anything the closest competition can offer. Loan terms start at 2 years and up to 5 years, depending on your budget and ability to pay. No credit checks are needed for these no credit check title loans.

Easy and quick processing

You only need to fill out the online application form and show your valid driver’s license and any proof of permanent residence. Your vehicle is then inspected and appraised for its true market value to determine the car title loans’ amount. The vehicle title should be lien free because the lender places a lien on it for the duration of the loan term. Collect all of the documents mentioned that are required and in an hour the loan is approved and you get the loan amount in that same hour. What’s more, you get to drive your vehicle during the duration of the loan term.

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.