Borrowing money is never easy in today’s life, and people have to do many struggles to find the money that they need for their basic things, such as fixing a leaking roof, bill payment or replacing a household appliance, some medical bills are there and your children’s school fee. These requirements can appear at any time in life. At that time you can be cashless so the problems can take place any time. When you have an emergency, you don’t have time to wait for cash and you think of sources from where you can get cash. So if you are stuck between monthly problems or require urgent cash when you are looking for a loan, then you have a few options to allow you to get fast cash. You can apply with Car Title Loan. The application process quick and simple for you, so you can qualify for a loan in less than a day and cover all your expenses with an emergency instalment loan.
When You Apply For A Car Title Loan
To apply for a car title loan, you must own a car that should be fully paid off, The car’s title must be clear, meaning that your car should be lien-free and your it should not be older than 10 years. If this is the case, you can use it to get a title loan. Using the car for a loan does not mean that you do not get to use it. You can still drive your car during the title loan period because you are just using it as collateral to obtain a loan. So your car is not kept during the loan time.
What is A Lien?
A car lien is an interest in the car that the owner grants to another party, usually as security or collateral for a debt, until such debt has been discharged. For example, if you own a car and you finance all or some of that car with a bank, your car will likely have a lien registered against it by the bank. The vehicle is the bank’s security that you will pay back the money they loan you on time. If you don’t pay it back, they could repossess your car
A lien isn’t a loan- it’s just protection for the person or lender that you borrow the money from.
How Simple Is It To Get Car Title Loan?
Getting a loan against your car is very simple and easy today. Unlike most other types of loans and their application processes, applying for a car title loan can be done online, or by visiting nearby lender’s locations. If you want to apply online or over the phone and find that you need help or have questions, any one of the loan representatives is always ready to help you out. They will always provide you with the help and guidance that you need in order to complete your loan application instantly.
How Do They Work?
The car title loan company just works in four simple steps:
- Call us & Get Approved
First step of the loan process is get yourself registered and apply for the approval of loan
- Easy Paperwork
The loan process is very fast and transparent. There is an easy and simple paperwork anyone can complete this step.
- Get Money
Then after the paperwork, another step is that you can receive the cash in your hand on the same day of approval.
- Keep Your Car
Keep your car with you during the whole loan period. Only car papers are required for the whole loan process.
What You Need To Provide For A Car Title Loan?
- You need to own a vehicle that is not older than 10 years.
- Your car must be lien-free.
- You should have registration and insurance of your vehicle on your name.
- You should have your valid Canadian driver’s license.
- There should be proof of Canadian residency.
- You should have another pair of keys along with you.
Benefits You Can Enjoy With Car Title Loans:
- You will get cash in hand on the same day
- There is no job requirement.
- Low monthly payment will be there.
- No credit check will be there
- You can drive your vehicle during the time of your loan period.
- No penalties on early payments
You can see below the best companies which provide car 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
- Alberta Bad Credit Loans