Covid-19 has drastically changed the world in the past few months. Many have lost their jobs overnight. People have been forced to leave their homes and relocate. Students have been affected the most. Canadians living paycheck to paycheck are finding it difficult to cater to their daily needs. A lot has changed and more is on its way. Money has added on to the problems, there is no doubt about that. During such times, we are here to help fellow Canadians sail through these tough times. A low monthly car collateral loan can be of assistance by using your vehicle as collateral for a loan.
Money makes money, it’s true. You can use your assets as collateral to get some money for urgent obligations like overdue utility bills, medical bills, credit card bills, insurance etc. The interesting twist that works in your favour is that you don’t have to surrender your collateral. In our car collateral loan, you can obtain quick cash without having to lose your vehicle.
To begin, we use your fully paid for car as collateral to borrow money. This helps in securing your loan and you don’t have to worry about your bad credit score. There are many other advantages of getting a car title loan from Canadian Title Store.
Car Equity Loan Advantages
- There are no credit checks done. You can apply no matter what your credit score is. We even provide loans to people who don’t have any credit history. Your loan request is accepted regardless of your past financial records. .
- We don’t check your employment details either. Banks or other lenders may ask you for your employment info and proof of income to process the loan. We don’t. We make sure and verify you are able to commit to making the monthly payments comfortably. Even people in between jobs can easily apply but of course need to meet the other minimum requirements.
- We also provide this loan at a competitive interest rate when compared to other lenders. This makes your loan easy and manageable. The monthly installments are super easy on the pocket and you can repay without any worries.
- We don’t charge any prepayment penalties. So if you want to make an early payment and close his loan you can easily do so. No charges will be applicable to pay off your loan ahead of schedule.
- Our loan terms are up to 4 years. This gives a lot of time for you to pay back the loan through easy monthly installments.
- Keep your vehicle!. We simply hold onto the title papers of your vehicle and the spare set of keys during the loan term. The vehicle is free for you to keep and drive once the vehicle inspection is over.
- Our team of professional loan agents handle each loan case with full confidentiality. No personal details are disclosed.
Requirements To Get The Loan
Unlike other lenders we don’t make the client suffer by asking them to provide a mountain of documents or make them sign tons of paperwork. We understand the urgency of the situation and help you sail through a low monthly car collateral loan process with minimum documentation. All we need to process your loan request is:
- Your vehicle title papers free from financial obligations
- A valid Canadian driver’s license
- Fully paid for vehicle ready for inspection (no older than 10 years)
- Registration papers of the vehicle in your name
- Insurance papers in your name (collision and comprehensive)
- Second set of keys to the vehicle
- Proof of legal age as per your province
- Proof of permanent address (computer generated mail in your name)
When you apply for a vehicle collateral loan with Canadian Title Store, we make sure that the loan process is convenient and quick for you. We will prequalify your loan request if you have a fully paid for vehicle that’s no older than 2010. Our goal is to get you qualified for as much money as possible based on the working condition of your car.
We all wish for the pandemic to be over but we want to help you with your monetary problems with dignity and ease. Call us (toll free) 1-844-512-5840 or apply online and fill out an easy application form. One of our loan agents will be more than happy to help you throughout the process.