Posted on by cartitleca

Q&A on  Low Monthly Car Collateral Loan

A low monthly car collateral loan allows  you to borrow cash in exchange for the equity of your car by using the lien free title papers as collateral. This loan is a great option for those whose bad credit score would easily get them disqualified for bank loans. We, at Car Title Loans Canada help our clients by providing instant cash through an auto equity loan. We want your loan  to be a pleasant experience throughout. Therefore,  we’ve answered all your questions regarding our loan process.

  • How much can I borrow?

The loan amount is determined by the equity value of your car and its present condition. The better the condition of your vehicle, the more amount can be borrowed. Details such as the year, make, model, kilometers and condition of the vehicle are also considered. While borrowing from us, you can borrow  cash up to $25,000 easily.

  • Is good credit score a mandatory requirement?

As long as your vehicle is free from all previous financial obligations, you can borrow from us without any hassle. We do not do any credit checks and lend instant funds irrespective of your credit score.

  • How long does it take to receive the cash?

Our loan approval process is quick and safe. You get the funds within a few hours of your loan approval. If you are in dire need of cash, borrowing from us using your car title is the best option since you can get cash on the same day of applying.

  • Are there any job requirements to apply for this loan?

A car title loan is given against the title documents of your vehicle. Your vehicle is your credit and is the main  factor that helps you get your loan. We do not ask you to produce any proof of employment or income.

  • What are the interest rates?

The interest rates charged by us are guaranteed to be the most competitive in the car title loan industry. We do not want to worry you with heavy monthly instalments. Our interest rates are up to 70% lower than our competitors. We are the best in the low monthly car collateral loan industry.

  • What is the repayment process?

The repayment process is very easy and convenient. We provide the easiest and most flexible repayment options to keep your life financially stress-free. We want to make sure that your financial burden gets taken care of with pocket friendly installments. Thus, in order to keep your monthly instalments as low as possible, we provide the longest loan duration in the industry. And the instalments can be as low as $97 per month.

  • Are there any early payment penalties?

You are free to end your loan before its maturity. Unlike banks and other lending sources, there will be no prepayment penalties charged on making an early pay out. So repay your loan early and be free from your debt.

  • How complicated is the paperwork?

Unlike banks, the paperwork is very simple and easy. We don’t want to burden you with frustrating documents. All you need to have in order to be eligible to borrow from us is the following:

  • A fully paid for vehicle no older than 10 years

  • A lien-free title to your vehicle

  • Proof of permanent residence (a piece of computer-generated mail)

  • Vehicle registration and insurance papers in your name

  • A valid Canadian driver’s license

  • A second set of keys to your vehicle

  • Proof of legal age as per your province

     

  • How to apply for a low monthly car collateral loan?

  • Call or Apply Online

You can initiate your loan process with just one quick call or by filling an easy online application form on our site.

  • Verification of the Paperwork

The documents provided will be reviewed and  verified within no time of applying. 

  • Keep Your Car During the Loan

Once the loan process is over, you can take your vehicle home. We understand how important your vehicle is for your daily routine . That is why we do not store your vehicle.

  • Receive the Cash

After everything is done, you get your cash and you can simply  drive off with your funds.

 

Hurry up and don’t wait! Call us (toll free) 1-855-653-5448 for more information or alternatively apply online on our website..

 

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