Have You Heard You Can Get Bad Credit Car Loans Calmar Alberta or Collateral Vehicle Title Loans?

A collateral vehicle title loan is a loan associated with getting quick emergency cash for urgent or unexpected needs.

Surprisingly, many people who are in need of some quick emergency cash may not even be aware that collateral vehicle title loans exist at all. However, once you know and understand how a collateral vehicle title loan works it can be the thing to help you out of a financial situation or emergency.

The basic concepts of a collateral vehicle title loan

A collateral vehicle title loan works by using a fully owned car and its car title as collateral by the borrower who applies for the loan. The car title must be lien free to qualify as collateral as well. The amount of the loan is based on the true market resale value of the car after inspection and appraisal by the lender. Up to $50,000 can be borrowed based on this.

Lowest interest rates

Interest rates for collateral car title loans are the lowest in the whole lending industry and the lowest when compared to unsecured bank loans and short term loans. Up to 70 percent lower interest rate can be offered against the closest competitor.

It only takes an hour

Applying for a loan can be processed within one hour. The lender inspects and appraises the car and car title for its true market value, and the borrower then shows a valid driver’s license and proof of permanent residence. It’s that simple and fast.

Payment terms range from 2 years to 5 years

Loan payment terms for no credit check title loans range from 2 years up to 5 years. Between $1,000 and $50,000 can be borrowed based on the car appraisal.

Hopefully this information was helpful and you now have a better understanding of what a collateral car title loan actually is. 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.