We all know that in today’s life, we need money. But sometimes we are cashless. At that point, you are fed up with your unexpected emergencies and want to solve them in a short period of time. But in front of you, there is a limited option to handle these problems. Most of the time, your bad credit can create some problems with getting a loan. Your emergencies can be anything which demands quick funds like a home revolution, car repair, medical bills, for your vacation, education fees issue and many more problems. So now you don’t have to worry about all these problems. You can get rid of all these problems by getting a loan against your car, and you can get money on the same day. To come out from all these problems, you can get auto title loans.
So now you don’t have to worry about all these problems. You can get rid of all these problems by getting a loan against your auto title which will give you the money on the same day to solve all your problems.
What Is A Auto Title Loan
Auto Title Loan is a type of a secured loan where the borrower can use their auto title as collateral to get instant cash. To get the loans, a lien is placed on your vehicle and need to submit documents of your vehicle. The value of your loan amount will depend on your auto’s equity. Once your loan is paid back, the lien is removed, and the title is returned. You can easily borrow money based on the market value and condition of your vehicle. The loan terms are long and flexible, which allows you to pay off your loan over time.
What Is Collateral?
Collateral is something that you own. You can also use your auto as collateral for an auto title loan. You need not worry because your low credit does not matter here. The lender only sees your vehicle and gives you a loan on your vehicle title, and the amount is based on your vehicle’s value. There are no credit checks needed in the loan application process. You do not have to provide your past credit history or share your present credit score with them to apply for the loan. The only thing that is needed to get you approved is the title of your auto.
How Can You Improve Your Credit Score With The help Of Auto Title Loans?
These loans can be taken against your auto easily. If you do, and you make all payments, it will reflect positively on your credit score by making on-time payments on these loans. You can improve your credit score because these loans usually have low monthly payments and the lowest interest rates as compared to other loans.
The Benefits Associated With Availing Auto Title Loans:
No Credit Checks or Job Requirements
You do not require good credit or employment history. If you do not have perfect credit, you can still apply for a loan.
Low Monthly Payments
Auto title loans generally have low monthly payment plans that are affordable and manageable.
Reasonable Interest Rates
Get the reasonable interest rates in the industry with the zero penalties for paying off your loan ahead of schedule.
Flexible Repayment plans
You can choose a convenient monthly repayment plan. You need to deposite money at any point of time as flexible repayment plans are there.
Quick & Easy process
The loan procedure is easy and quick. For loan, all you require is a fully owned vehicle which should be in your name. Your vehicle must be lien free.
Cash On the Same day
After getting approval, get your cash on the same day and drive off with your vehicle.
Requirements To Get An Auto Title Loan:
- You must own an auto which is not older than 10 years.
- Your auto must be lien-free.
- You should have car registration and insurance of your car in your name.
- Your valid Canadian Driver’s license.
- Proof of permanent residency.
- Duplicate keys to your auto.
Below listed are some of the best companies which provide auto title loans and offer the best deal on it:
- Equity Loans Canada
- Fast Canada Cash
- Snap Car Cash
- Loan Center Canada
- Pit stop loans
- Canadian Cash Solutions
- Bad Credit Loans Prince George