Why are Equity Title Loans Brampton Ontario Sometimes Called Pink Slip Loans?
A pink slip loan is sometimes called by this name, although the more common name or term is collateral vehicle title loans or more simply car title loans.
A pink slip is actually the Certificate of Vehicle Ownership. This pink slip is also called the car title. This is the car title that is left with lenders when applying for collateral equity loans to serve as collateral. The car title must be lien free to qualify for the loan.
Collateral car title loans are preferable to other unsecured bank loans or short term loans because:
- The owner has the benefit of keeping the car while repaying the loan.
- The process is fast and easy. You get a loan approval in one hour.
- It does not require any credit checks for the loan approval.
- All that is needed to be submitted is a valid driver’s license and proof of permanent residence.
- The car is inspected and appraised for its true market value.
- Up to $30,000 can be borrowed.
Loan amount is based on the true market value of the car
Collateral vehicle title loans are based on the true market value of the car and the loan amount is determined by this as well as:
- Overall vehicle and engine condition.
- Total mileage of the car.
- Make and model year of the car. Vehicles not more than 8 years from purchase are usually safe.
Very low interest rates
When it comes to interest rates, no credit check title loans offer the lowest interest rates in the whole lending industry. Much lower interest rate can be offered versus any close competitor out there. Loan repayment terms are also the longest and most flexible.
Car title loans or sometimes called equity 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.