It can be impossible to get a loan if you have bad credit. Unsecured bank loans have rules and regulations to follow, and it’s a fact that having poor credit will never get a loan approved. However, you can have more options when you apply for car title loans.
A car title loan is the only best option for emergencies
If you’re thinking about getting a short term loan instead since you won’t be approved for an unsecured bank loan, you better think again. Unfortunately, these short term loans carry very high interest rates, hidden fees and charges, and very short terms of payments. On the other hand, vehicle title loans have the lowest interest rates in the whole lending industry with loan repayment terms that are the longest and most flexible.
Car title loans are secured
Applying for a car title loan even with bad credit is the best benefit aside from the low interest and great repayment terms. This is because the loan is secured by the car and the car title that both serve as collateral. So long as the car is fully paid for and the car title is lien free, the loan is approved in one hour. The loan amount is appraised from the car’s true market so you can borrow as much as $30,000.
Low interest rates and longer terms of payment
No credit check title loans offer terms that are the longest. Even if the loan is paid off early, no early payment penalty will be charged. Interest rates are also the lowest when compared to unsecured bank loans and short term loans.
Car title loans or sometimes called bad credit loans is the only service offered by Canada Car Cash. This means that Canada Car Cash can loan more money with less requirements. We can help you by calling us now or getting in touch online. We can give you an estimate of what you really qualify for. Call us at 1-844-598-7631.