Get Rid of your financial difficulties with CAR TITLE LOAN

Sometimes it is not easy to fulfill the strict requirements of credit unions and traditional lenders to get loan approval. If you’re also facing such problems, in this guide, you’ll get a solution for your problems. 

Are you facing problems building your credit or having no credit history at all? Well, in such situations it is next to impossible to get a loan from banks. In these situations, a car title loan can help you. It is a great solution for those who are in need of quick money and dealing with financial emergencies. This is also the best solution for the ones who are trying to get their financial life back on track with some extra help. 

What Is Meant By Car Title Loans? 

Car or vehicle title loans are secured loans where the borrower uses his/her vehicle such as a car, an SUV, a truck, etc. as collateral to borrow money. Some lenders keep the vehicle in possession for the entire period. But lenders like Approve Loan Now do not keep the vehicle, they keep the lien-free title papers with them. Then they will place a lien on the vehicle and will remove it whenever the borrower returns the loan payment. 

This loan is quite easy to obtain as we do not check your credit history to give you approval. You can easily get money on the same day of applying for a loan. 

How Does This Process Work? 

This is a secured and short-term loan giving enough time to easily pay back the loan amount. The borrower can take the advantage of having a valuable asset that can help them in emergency situations. It is fairly easy to get approval for vehicle title loans as they are secured and thus best for credit-constrained people. 

What Is A Lien Being Placed On The Car? 

A lien makes the loan secured and it is security being placed on the vehicle by the lender. This is a document stating that the vehicle is used as collateral to get the required money. And it states some rules and responsibilities. It helps make sure that the borrower pays the installments on time. If anyone defaults or does not return the loan amount, the lender can use the vehicle to make their money. 

What Is The Easiest Way To Apply For A Car Title Loan?

A vehicle collateral loan is like shooting a fish in the barrel. There are several companies operating in your town and nowadays they are also serving online. You can visit our website online and fill out a short & basic loan application form. 

You will be asked to provide necessary information related to you and your vehicle like: 

• Vehicle’s Mileage

• Kilometers

• Your name, your permanent address, and contact number

• The make, model, and year of purchase of the vehicle

What Are The Requirements Of This Loan? 

Well, like other loans car title loans also has some requirements that one has to meet to get approval: 

• The vehicle must not be older than 10 years

• The vehicle must be registered under your name

• The vehicle must be fully insured

• Your permanent address proof papers

• Your legal age proof papers

• A valid Canadian driver’s license 

• The second set of keys that work on all parts

What If You Have A Bad Credit Score?

People having a low or poor credit score need not worry. We do not perform credit checks to approve you for a loan. You can easily get approval to borrow a large amount of money against your vehicle even with a bad credit score. On the other hand, it will help you build your credit score when you’ll pay on-time monthly payments. 

How Much Can I Borrow Using This Loan? 

This is one of the most asked questions. Well, lenders offering car title loans do not offer a fixed amount. The amount depends on the worth of your vehicle. The professionals at the lending institution will inspect your vehicle and calculate the equity value. 

You can borrow the loan amount up to the equity value. The maximum value that you can get from us is $50,000. You can collect the funds in any preferred mode of banking. 

Perks Of Getting A Car Title Loan

One of the best advantages of this loan is that you do not have to worry about your credit score. The next thing is that it does not come with any restrictions on the usage of funds. You can use the money on anything where you want such as paying medical or utility bills, pay a high-interest debt, sudden house repair, booking tickets, and more. Other benefits include:

• It helps you get money quickly and sometimes on the same day of applying. 

• You will get enough time period of up to 4 years to pay back the loan amount. 

• You will be charged with a genuine and industry-best interest rate. 

• You can keep your vehicle with you and use it as you want to. 

If you want to get detailed information regarding the loan, you can contact us at 1.844.452.4125 .