Many people in Canada know that one of the best ways to manage emergency needs as well as monthly payments is through getting a car title loan. However, not everyone knows about its details. Not only is a car title loan very easy and convenient to get but it is also very interesting as well. In a world full of traditional loans that require endless requirements that take forever to process, car title loans are the complete opposite and offer convenience.
What Does Getting A Title Loan On My Car Mean?
A car title loan or car pawn loan is the one that enables us to put the title of a fully-paid vehicle as collateral and get the loan within 24 hours of application. This loan is availed from private lenders like us, Canadian Title Store. Anyone can get this loan easily and with the least formalities.
Features Of A Car Pawn Loan
1) The most attractive and appealing feature of this loan is that there are absolutely no credit checks and job history checks involved. It’s because the loan is given depending on your car’s equity value and authenticity of its title and not on your personal credibility. So, if your car has a positive equity, is marketable and less than 10 years old, then you are good to go.
2) It is a short-term loan that you can pay back through monthly payments in the next four years. This gives you ample time to arrange for the funds after meeting your funds needs.
3) If you’re wondering, “What if I want to pay back the title loan on my car before the due date?” The answer to this is, you are free to do so without worrying about any prepayment penalty. This seems unusual because all the traditional loans charge this penalty on prepayment, but such is not the case with an auto title loan.
4) You can get a title loan using any vehicle you have like, a car/van/truck/motorcycle, etc. All you need is that the vehicle must have positive equity, is fully-paid, and is less than 10 years old. Other considerations are its manufacturing date and the title should be clear of other liens.
5) The processing, inspection and approval process takes less than 24 hours. All you have to do is fill up the details of your car and get it inspected by our representative. The process is short and simple.
Where To Get Title Loan On My Car?
We, at Canadian Title Store, are your one-stop solution for all financial problems. All you have to do is contact our toll-free number at 1-844-512-5840 today.