Need Cash – Apply For A Specialised Car Equity Loan

 

In these difficult times, managing your expenses and catering to your immediate cash needs has become difficult. One may think of going to a bank for a loan. It is a good option provided you have a good credit score and are in no hurry to get the money. The process of getting money from a bank comes with its own demerits. One has to sign a lot of paperwork and this may take weeks or months for approval. The chances of getting rejected because of bad credit history are high. A specialised car equity loan from Equity Loans Canada does not require a perfect credit score. People with bad credit scores in need of instant cash can apply for our auto equity loan with us. We will help you deal with the crisis and get you a bad credit score loan approval at the earliest. Don’t let your credit history bother you, just apply for a poor credit score loan and get the funds quickly. This loan is secured by using your vehicle’s title paper as collateral.

 

Borrow up to $60,000 with us

 

Based on the current market value and the working condition of your vehicle you can borrow up to $60,000. The final amount is calculated after the inspection of the vehicle. 

Check out the benefits of a poor credit car loan

No credit checks

Your bad credit history or job details are not our concerns. You get instant funds even on the same day of loan approval. There are no credit checks done by us. Your vehicle is your credit.

No Prepayment Penalty

Our loan is an open ended loan which means you can close it by making an early payment whenever you want. There will be no prepayment penalty charged on you for doing so. 

 Competitive Interest Rates

We ensure the lowest interest rates in the market. We provide our loans at competitive interest rates which benefits you. 

Get Cash Fast

Equity Loans Canada helps you deal with your financial crisis by providing instant cash. Do not feel stressed over your need for quick cash requirements, we will certainly help you during your tough time.  

Keep your vehicle with you

Drive off with your vehicle and keep using it during the loan period. There’s absolutely no need to store your vehicle with us. 

How does it work?

Step One – Call us or Apply Online & Get Prequalified

Give us a quick call or apply online by following simple steps and get a preapproval. Once the online process is complete one of our loan agents will get in touch with you and brief you about the further steps in the process. 

Step Two – Hassle Free Paperwork

You have to submit some basic documents. The process is short and doesn’t eat out much of your time. We need just the basic information about your vehicle like the year, make and model of the car, and the kilometers. We will then prepare the loan documents and inspect your car.

Step Three – Get the Money

Once the paperwork is done, get your funds immediately after you sign the agreement papers. 

Step four – Keep your car during the loan

When you receive the funds you also get to keep your vehicle since we don’t store it with us. Yes, you read it right, continue to drive your car as before. Your vehicle is used as collateral for this loan but you still get to keep it during the loan term.

The Requirements

  • Proof of legal age as per your respected province
  • A vehicle that is not more than ten years old 
  • A clear title to your vehicle
  • The vehicle must be registered and insured in your name
  • A valid Canadian driver’s license
  • Proof of permanent residency
  • A second set of keys to your car

Apply with Equity Loans Canada to get a specialised car equity loan today! Contact us (toll-free) 1-844-567-7002 or apply online. Our experienced loan experts are ready to help and walk you throughout the entire loan process.

How To Get A Low Monthly Auto Collateral Loan?

If you’re worried about your poor credit score, check out how our auto collateral loan can help. This loan will help you get immediate funds irrespective of a poor credit score. We, at Equity Loans Canada have been providing services to our thousands of satisfied customers across Canada by helping them arrange quick cash through our low monthly auto collateral loans. In this loan, we temporarily keep the title of your vehicle in exchange for instant funds for your cash needs. It’s a quick and secure option of borrowing money when you are in dire need of cash without having to go through a credit check. Whatever happened in the past stays in the pasts, and all that matters to us is your present money needs. We do not check your credibility using your past loans or debts. This means no more loan rejection due to bad credit history or low credit score. The loan is provided to you solely on the basis of your vehicle’s equity value and present condition. If your vehicle is fully paid for and meets other basic parameters for a title loan we will be more than happy to help. We understand that the need for funds can arise at any point in life. You may not always be in a position to accommodate such sudden requirements. You also cannot improve your credit score overnight to borrow from a bank. The bank can easily reject your loan application if your credit score is low. However with us, we won’t judge you on the basis of your credit score.

 

Getting funds through a car equity loan is a very convenient and quick process. Filling out our online application form takes just a couple of minutes and the entire loan process can be completed within a day. Requesting and getting the approval for a loan is now just a few clicks away.

  • Fill out our simple online application form or call us.
  • Provide the details of your vehicle: year, make and model.
  • Bring your vehicle to our nearest location for inspection.
  • Once the evaluation is done and the loan is approved, the funds will be given to you in a few hours.During this whole process, our friendly staff will be there to help. You will need some basic documentation to be eligible to borrow funds against your car title. The paperwork is simple and we do not require any complicated documentation.We require the following:
  • Fully paid for vehicle no older than 10 years.
  • A lien-free vehicle title Proof of permanent residence (a piece of computer-generated mail) Vehicle registration papers in your name Vehicle insurance papers in your name that include collision and comprehensive
  • A valid Canadian driver’s license
  • A second set of keys to your vehicle
  • Proof of legal age as per your province

Advantages

There are many lenders that’ll provide you a car title loan but if you borrow from us, you will have the following advantages:

No Credit Checks-
We provide funds on the basis of your vehicle. Your credit score is none of our concern. You can apply even if your credit score is poor. We also accept ‘no credit score’ loan requests too.

Get Instant Funds- You get cash instantly after the loan approval. There is no need to wait since we understand the urgency and start working on your request as soon as we receive it. You can borrow from us an amount of up to $60,000 instantly. If you are looking for a low monthly auto collateral loan today, Equity Loans Canada is the right place for you.

Keep Your Car- We will only keep the title documents of your vehicle as collateral. You are free to drive your car as usual. You need to only bring it in for inspection to determine the loan amount you may be eligible for. Once that is done, you can take your vehicle home along with the funds. There is no need to surrender your vehicle.

No Job Requirements- We will not ask you to produce proof of income in order to borrow from us. We do not do any verification checks on your employment either.

Competitive Interest Rates- We assure you competitive interest rates in the auto title lending industry. We do not want to burden you with heavy installments especially when you are going through a tough time. Our low interest rates keep your monthly payments pocket-friendly.

Longer Loan Terms- You not need to repay us immediately. You can borrow from us for a loan duration of up to 4 years. This helps you in making your monthly payments with ease.

No Prepayment Penalty- You are free to make an early payment to close out the loan. We will not levy any prepayment penalty over this. This is an open ended loan. Call us toll free 1-844-567-7002 or visit our website to apply online!

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Can I Get Cash Using My Vehicle?

 

If you’ve been googling ‘ways to get cash using my vehicle’ then we’re glad to inform you that an auto title loan is just the answer to all your money problems. Unforeseen expenses  usually come uninvited and we are forced to take some desperate measures to compensate. Taking a personal loan is just one way to deal with money shortage. But it comes with its own disadvantages such as  a lengthy time period to review a mountain of documents and to even confirm if you are approved for a loan or not. Another way to deal with a  money shortage is to opt  for an auto title loan.      

Why An Auto Title Loan?

An auto title loan is a short term loan in which a borrower’s vehicle title serves as collateral. The vehicle has to be fully paid for. Through this loan you can use your vehicle as a source of funds  when your bank account runs out of funds. If you apply with Equity Loans Canada, you will not have to experience a  complicated loan  process. There is also no need to seek help from your relatives or   friends for money. Our car title loans can easily be taken by Canadians who need money without  hassle and have the ability to receive funds  within 24 hours of submitting their application. Here are the top reasons why an auto title loan is an ideal option in  solving  your money problems.

Do you have a bad credit score? No Problem.

A healthy credit rating is a dream for many. A lot of different reasons can lead to a  low credit score. And not all of them are controllable. The need for urgent money can happen at  any time. We, on the other hand, do not take your credit score into consideration to determine whether you are eligible for a car title loan or not. In the case of a car equity loan, you only need a title to a fully paid for car to be used as collateral to get the loan. This makes it easy and quick for you to get your hands on the much needed money. Our approval process is fast and simple. We will provide you the loan based on the equity value and overall condition of your car.

Fast Processing Is The Key

Having access to a quick loan can be very comforting if you are stuck in an unpleasant situation. This is the main reason why , more and more Canadians  are opting for vehicle title loans for its quick and simple process. Banks and credit unions usually make the borrower go through tedious paperwork thus makes for a  long wait time. That’s not what happens at Equity Loans Canada. Our paperwork is minimal and  the borrower usually has easy access to the common documents we request for. . We take a couple of minutes to pre-approve the loan and then the complete process takes less than 24 hours. You can fill out an easy online application form and submit it to get a pre qualified  loan value.Once the online application is received we will be in contact to request the  following documents: 

  • Valid Canadian driver’s license
  • Proof of permanent residence
  • A lien-free and fully paid for vehicle no older than 10 years
  • Registration and insurance papers in your name (covering collision and deductible) 
  • Proof of legal age as per your respected province
  • Second set of keys for  the vehicle (to remain with us)

 

We assure you, we will work on your loan application in a swift manner. Your car will be inspected at one of our local offices.. There’s also no need to surrender the car. You get to use it as normal for the whole duration of your loan. As soon as the loan process is complete you will  get your funds. We only hold on to the title papers and spare set of keys temporarily until the loan has been fully paid.

So, the answer to your question, ‘can I get cash using my vehicle?’ is a definite yes! There are many advantages of choosing us over other lenders. 

  • No credit checks
  • No credit history required
  • No employment details asked
  • No proof of income needed
  • Keep your car
  • Borrow up to $60,000
  • Same day cash disbursal
  • Easy paperwork

 

Get a car title loan from us today! Apply online or call (toll free) 1-844-567-7002 to book your appointment. One of our loan agents will gladly help you throughout the entire loan process.

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Is It A Good Idea To Borrow Using My Vehicle?

 

For someone who has never ever taken an auto title loan, it is understandable to have questions. Through this blog you’ll be able to see beyond your doubts and have a better understanding  of loaning money from licensed private lenders using  the title papers of your vehicle. The idea of ‘borrowing using my vehicle’ might seem weird  because most people go to banks to get personal loans whenever they find themselves in need of urgent money. 

But here’s the thing! Banks take a long time to process loan applications  and disburse the money. They have their own way of dealing with personal loan requests and  most of the time these loans are unsecured. And because of this, they levy high interest rates on the borrower. Banks have a set criteria which involves credit checks, employment verification and  proof of income to name a few.  A client usually has to provide a lot of information and sign countless documents to get the process started  and then waiting for approval or possibly rejection may take days or even  weeks. But what if you need money urgently? You cannot force a bank to release the loan money just for you. 

Needing money urgently,  we’re talking about situations like a medical emergency, urgent house repair, overdue credit card bill, etc. . For such cases , you need the money as soon as possible; and without any hassles or  complicated paperwork to deal with. This is possible by getting the help from  Equity Loans Canada. They have been providing  car title loans to Canadians for  many years. Regardless of your need, we provide the funds you need  so you can live a worry-free life with your loved ones.

 

Know More About Our Car Title Loans

We are the pioneers in the field of auto title lending. Our customers love  our  reliable and hassle-free loan process. Our title loans come with several strong advantages  which make it an easy choice to choose us for the urgent money needs.  Below are some of the points that will help you make your decision of choosing us over any of the traditional lenders out there. Borrowing using a vehicle couldn’t get much easier! 

  • No Penalties On Early Payment
  • Keep Your Car
  • No Credit Checks
  • No Job Requirements
  • No Credit History Asked
  • Same Day Cash Disbursal
  • Up To 70% Lower Interest Than Competition
  • Long Loan Term of Up To 6 years 
  • Flexible Payment Options
  • Low Monthly Payment

The loan amount is determined by the equity value of the car. Once the loan amount is determined, the title paper remains with us as collateral  for the duration of the loan.  The car, on the other hand, is free for the borrower to take and use normally. There is no need to surrender the vehicle to us. As soon as the loan is paid in full, the title papers are cleared from any legal claim from our side. With such a convenient plan to look after your financial problems, ‘borrowing using a vehicle’ may be the best idea to come your way. 

Know The Prerequisites

For anyone applying for a  loan, a basic online application form needs to be filled out and submitted. It takes less than a minute to fill out the form which will ask for basic details such as  your name, contact information and car details ( car year, model and make, odometer reading etc). Once we receive and review the information provided, a loan agent will contact you and explain  the whole loan process and answer any questions you may have.  Y For the loan you will need the following documents:.

  • 2008 or newer vehicle (fully paid for)
  • Valid Canadian driver’s license
  • Vehicle registration papers in your name
  • Insurance papers in your name that must include collision and comprehensive coverage
  • Proof of Permanent Address
  • Spare set of keys to the automobile

We are professional money lenders and believe in ethical lending. We ensure to maintain full confidentiality and privacy. Our customer service is open 24/7 to cater to your financial needs. Borrow up to $60,000 against your car within the same day of applying.

Get a car equity loan from us today. Apply online or call (toll free) 1-844-567-7002.

 

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Get a Quick Hassle Free Auto Loan Today!

Money is vital and especially , at the time of an emergency. Loaning money from a bank helps if you have time to spare and a good credit score. Absence of any one of these can land you straight into rejection. If you happen to meet all these bank requirements the disbursal time taken by a bank to provide the loan money is something that a person in need of instant help cannot wait for. For this very reason, auto title loans have overtaken bank loans because they come with so many benefits. You can expect a quick hassle-free auto loan  in no time and a solution to your t financial emergency without panic. Auto title loans have become popular because of ease of availability and competitive interest rates. A lot of Canadians choose them over traditional ways of loaning money because these loans can be taken at convenience.

 

Things to know before you loan with us!

People looking for an auto title loan must know that we at Equity Loans Canada do not ask for a good credit score. We accept all credit types.. All you need to qualify, is a fully paid off vehicle with a clear title. Up to $60,000 can be loaned for a term period as long as six years. It’s an open ended loan which means a borrower can make early payments or pay off the loan with no prepayment penalties. Any financial emergencies like overdue bills, house repairs, relocation expenses etc. can be taken care of with the help of the equity title loan. Our title loans also don’t take into consideration your employment which means we don’t ask for proof of income. Once you decide to go for a title loan, make sure you know how long you have to pay it off. Our loans run for a period of up to 6 years. This allows the borrower to make small monthly payments and not be burdened with hefty loan payments.. However, a borrower doesn’t have to keep the loan for the entire loan term. You have the option to close the loan anytime and by paying off early you won’t attract any prepayment penalties. Financial emergencies can strike anytime and the lack of available cash at that time can really complicate the things further. We are available 24//7 all year round. This means no matter when you need money, you can contact us toll free number 1-844-567-7002. Our quick hassle-free auto loan is just a call away. We process our loan requests within a day’s time to make it easy for the borrower to cater to your emergency in no time at all. Funds are handed out to the borrower immediately after the approval.. The Requirements for a Vehicle Title Loan There are some prerequisites that one has to have in order to apply for the loan. There is also minimal paperwork involved which the borrower needs to submit. Once received we verify all the documents as well as inspect your vehicle. Below are the documents needed for the verification process: A lien-free title for your fully paid off car Proof of permanent residency Vehicle registration papers in your name Vehicle insurance papers in your name A second set of keys for your vehicle A valid Canadian driver’s license Proof of legal age as per your province

 

Benefits of Applying !

No Credit History Required

To qualify for our auto title loan you don’t have to worry about your credit history. Whether it is good or bad, your credit history doesn’t really make any difference in the loan process. Even if you don’t have any credit history, you can still apply since the loan is dependent on the vehicle’s equity value and clear title. Whatever your credit score is, you are eligible to get a loan from us. We accept all credit types since the loan is secured by the title of your vehicle. No credit checks will be performed!

No Employment Details Asked

 

We don’t ask for your proof of income. So if you want to keep it private, you can. No proof of income is needed to get this quick hassle-free auto loan.

No Prepayment Penalties Charged

There are many lending services that charge a prepayment penalty if the loan is paid in full before the completion of the loan term. We don’t! Go ahead and make an early payment at your convenience. We won’t apply any penalties when you do.

 

Keep Your Vehicle

We do not store your vehicle with us as security. All we want is the title of the vehicle and you can continue to use the vehicle during the loan. Many lenders hold on to the vehicle until they get their money back. Not us. Get an auto title loan from us today. apply online  or call toll free 1-844-567-7002.

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Bad Credit Auto Loans – A Quick Way To Improve Your Credit Score

 

Financial stability is one thing that everyone wishes to have in their lives. But just one emergency can  cause your credit score to tumble down. This decline in credit score can make a person experience financial  difficulties. They may not be able to get a loan from a bank or make a huge purchase because of a poor credit score. Your credit score is the way financial institutions  measure your credibility in paying back a loan. . People or financial institutions may judge you if you have bad credit. However, there are ways of improving your credit history and saving yourself from the embarrassment and frustration. You can opt for a bad credit auto loan which can  help your financial situation and also help improve your score. All you need for this type of loan is to own a vehicle that is fully paid off with a lien-free title.

How To Get a Bad Credit Car Loan?

There are many private lenders out there that provide these loans but they all  have their own terms and conditions when lending out money. Some keep the vehicle in their storage for the duration of the loan while some charge high interest rates. At  Equity Loans Canada you do not have to worry about putting your car instorage to get the loan. We provide cash loans of up to $60,000 with minimal interest rates. So next time when a financial emergency comes your way, worry not and use your car as collateral to get a loan.  

What do I Is Need?

Car title loans are simple!  They require very little paperwork. The documents required  are basic ones you already have in your possession. You’ll find the list of requirements below: 

  • A vehicle that’s no older than 2010
  • Valid Canadian Driver’s License
  • Vehicle registration and clear title papers in your name.
  • Vehicle insurance (collision and comprehensive) also in your name
  • Proof of  permanent address 
  • Proof of age of majority in your province

How Do These Loans Help Improve Your  Credit Score?

Life is full of surprises and uncertainties. Life  can take an unexpected turn and lead to a point where you have to shed money from your savings or even take out a loan. Bad credit auto  loans from Equity Loans Canada is  the most efficient way of improving your credit score. These loans are easy on your pocket to repay and hence you can make the monthly payments without any miss. You can focus on your other expenditures very well and use the loan money to look after credit card bills or other overdue bills.

Apart from this, you can take a lot of steps from your end towards strengthening your financial stability. It is better to start early in this direction and improve your credit rating if in case an occasional dip has dented your credit score. With a little discipline in your life you can repair the damages.

Pay your dues on time

Don’t worry about your previous payments that you couldn’t make. Focus on the oncoming installments. Chart out a plan to manage your expenses. Spend less where you can manage in less and save more for the unavoidable and important things like credit dues, loan installments etc. You can also opt to set up a PAD (Pre-authorized withdrawal)  on your account for all your utility bills, credit card bills etc. In this way you won’t have to worry about saving money for the payment day. Money will be automatically deducted from your account.  

Take less credits

We know loans are an important finance tool and almost everybody needs them at some point of time in their lives. But it’s better to set a target for yourself and keep your borrowing within that bracket. Take what you can pay back. Creating this boundary will bring discipline in your life and you’ll never get trapped in the debt cycle. People take credit card payments lightly but it’s important to tell you that these small credit tools are the major contributors in deteriorating your credit rating. 

Clear up the balances

Wipe off the balances you have on you as fast as possible. All loans are taken for a set period of time. Some have the option of pre-closure but charge you money for that. Bad credit auto loans from Equity Loans Canada can be closed at any time. There are no penalties charged for paying the remaining balance before the expiry of the loan term. 

Get a car title loan from us today. apply online or call toll free 1-844-567-7002.

 

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Can A Minimum Credit Score Loan Help Improve Your Finances? 

 

Over a million people in Canada suffer due to bad credit. A poor credit score can be a real unpleasant experience when applying for a personal loan, a mortgage or a credit card.. A second rate credit score can also affect your life in ways you can’t imagine. It becomes embarrassing not just for you but also for the people you are associated with – like your family and friends. This leaves you with limited financial options to choose from  in tough financial times.

Are you struggling with your house rent? Or have you accumulated a huge debt on your credit card? Is your house in need of immediate renovation? If you find yourself stuck in a  financial nightmare, go for a minimum credit score loan as your bailout option. You can  get this loan despite a poor credit score. And there’s no need to submit any proof of employment or source of income. No more relying on banks and facing rejection every time you apply for a loan. Banks are not the only option nowadays. Equity Loans Canada is a great  source to get bad credit loans. We provide loans based on the equity value of your vehicle. Continue reading for more details on how to get an equity Loan today. equity concept in detail.

What is car equity?

Your vehicle is an asset and most Canadians own one. Many people opt for a  secured loan for their time to time demands, and then repay it later in installments. People use the equity in their non-financed and fully owned vehicle; and borrow money. Equity refers to the actual wholesale value of the vehicle in the current  market. The car equity basically depends on a combination of things such as: the year of the car, make, model, kilometers and condition of the vehicle being used. After considering all the points we calculate the equity value of the car. You can also use online appraisal tools easily available nowadays to get a rough estimate on your car. The positive value of the car’s equity allows you to get a minimum credit score loan easily. You can use this money to pay your bills, medical expenses etc. 

Various Ways to use your car’s equity!

Are you planning a vacation for your family? Do you want to have a new home theatre or renovate your home? Or do you want to repair your electronic devices like laptops etc.? To fulfill these requirements, you can use your car title to obtain the loans. We offer poor credit score loans that allow you to use the equity in your vehicle. You can obtain the loan against the wholesale value of the vehicle and use it to meet your expenses. An equity loan is the right and affordable solution to overcome your immediate financial needs. All types of credit are accepted. We provide these loans at competitive interest rates for  convenience. You can easily borrow up to $60,000 depending on the equity of your vehicle.

 

What are the requirements for a minimum credit score loan?

  • A vehicle that is 2010 or newer that is fully paid off
  • Clear car title
  • Valid Canadian driver’s license
  • Vehicle registration in your name
  • Vehicle insurance  that includes collision and comprehensive
  • Proof of address (piece of mail in your name to your address)
  • Second set of car keys

 

Once the online application form has been filled out and the information has been provided, your loan amount, loan payments and loan term will be calculated after assessing  the overall profile. If this proposed loan structure is agreeable to the borrower, he/she can then sign the documentation and the loan amount will be handed over on the same day.  Our borrowers have the privilege of making early payment for the loan with no early payment penalties will be charged for doing so. 

 

Call Equity Loans Canada at toll free 1-844-567-7002 to find your loan amount eligibility or apply online

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What Is A Loan Against A Car Title?

 

 

Many times people find themselves in situations wherein they need cash on immediate basis but just can’t figure out a way. So this post will be a helpful guide for those who own a car and can make the best use of it apart from just driving it. This post will tell the readers about car equity loans and how you can use your car to obtain short term and long term loans. 

Why Is The Title Important For Title Loans?

A loan against a car title is a secured loan in which a car is used as collateral to borrow funds. At Equity Loans Canada, in order to get a title loan you need a clear car title . By clear title we mean there shouldn’t be any liens on it. This title acts like a security. One thing is clear that people with clear title can get these loans. So, the question arises, can people with lien on their car title get a quick loan too? You’ll get the answer of this question with a lot of clarity in the next part..   

What Is A Lien On A Car Title?

When people buy a car on loan from banks or from car dealers, the title of the car gets transferred in the name of the bank or the dealership. It gives them the sole right to possess the title until the loan they have taken is paid in full. Possessing a title means that the lender gets to keep the original copy of the title. All other legal rights are also transferred to the lender. This is done in case the borrower defaults or isn’t able to pay the loan back, the lender has the full rights to repossess the car to  recover the loan amount from it. 

Can You Get A Loan With A Lien On Your Car Title?

The answer is yes. Some lenders out there consider such cases as well. Let’s try to understand this with an example. Let’s say you have $2,000 loan outstanding to pay to the bank and that bank has marked a lien on your car title for the same. But you want instant cash and your car qualifies for $6,000 instant car collateral loan with a lender. In this scenario, you can ask your new lender to pay out your pending loan to the bank hence clearing the title of the car from the  lien. Now the total amount you’ll have to pay to the lender as principal will still be $6,000 before any interest of course. And you would get the difference which would be $4,000 to use in whatever way you wish. It’s a win-win situation for all parties.

What Are The Requirements For A Loan Against A Car Title?

A car title loan or as it’s also called car equity loan is a very simple and secure kind of loan. To get fast cash from Equity Loans Canada all you have to provide is:

  • A vehicle not older than 2010
  • A fully paid off vehicle that has a lien free title 
  • Registration papers along with insurance documents (collision included)
  • A Canadian driver’s license
  • Proof of permanent residency
  • Proof of legal age 

Does a Credit Score Matter?

The point is very simple and clear. If you have a bad credit score and  stuck in a money crunch, don’t even think of going to a bank for loan. All you are going to get from them is rejection with a bad credit score. Loan against a car title from Equity Loans Canada doesn’t consider a credit score at all. Your poor credit history or no credit history has no part in the loan process at all.. 

So next time if you are in need of quick cash, call us (toll-free) 1-844-567-7002 or fill out our online application to get an estimate today.

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Get the Best Same Day Cash Title Loans In Canada!

 

Many  Canadians live under pressure in managing their monthly budgets. Using one credit card to pay for the other, one personal loan to get rid of the previous one, and so on; a vicious cycle. Same day cash title loans are the answer to their problems. What could be better than using your car to pay off debts without having to sell it! It is more favorable for the car owner to hold on to the vehicle and take out a car title loan with an affordable payment system to deal with a  financial bind. The vehicle remains with you and at the same time, you can pay off debts and manage monthly budgets. It doesn’t always have to be about your credit card bills or paying off your loans. These loans can also be taken out whenever you are faced with immediate money issues like medical bills, a divorce settlement, a heavy lawsuit or even a  plumbing issue in the house. 

In the first step, one needs to understand how much  “equity” your vehicle has. The equity in the car is the difference in the market value of your car and the money you owe it. For example, if your vehicle is worth $20,000 and the outstanding balance on the auto loan is $4,000, then the equity of the car is $16,000. Once the owner of the car pays off the remaining loan, the equity worth is restored back to $20,000. It, basically, represents the present market value of the vehicle. So, if a person owns a fully paid car, he can use this equity value to borrow money for his urgent needs. At Equity Loans Canada, we provide title loans to people with all types of credit. Your credit score and credit history are something that won’t be an issue when you deal with us.

What is the importance of a title in title loans?

Auto title loans are a secured type of loan. We don’t keep your car with us in order to process your loan request. The title of the car is used as collateral in return for the loaned money. This title must be lien-free which means that no one except you should have a claim on the vehicle being used for the title loan. The vehicle should not be under any financing and be paid in full.  The title of the car is a very important document as it declares the sole ownership. When we take the title of the document, we place a claim on it by placing a lien on it. For the whole duration of the loan, the title remains under our possession. We remove the lien when the borrower pays the entire loan in full.

What is a lien on a car title?

Marking a lien on the vehicle means that the original papers will remain with us and we shall have the legal rights of your vehicle in the event the debt is not paid. This is why it is called a secured loan as the vehicle title is used collateral.   

What is the process to get same day cash title loans?

Same day cash title loans are useful when you have to deal with unseen cash emergencies. All you have to do is fill out our basic online application form. Provide us with simple paperwork and bring your car for inspection. Then drive off in your vehicle with the cash loan. The paperwork involved is minimal and not at all complex; simple for anyone to understand. We can also approve loans on the same day you apply. We don’t do any credit checks. So your credit does not make you ineligible for the loan if it happens to be the lower side. We also don’t ask for proof of income. Your job is not something that we consider while looking at your loan request but we will verify with you that you have the means to make regular payments. 

 

Call (toll-free) 1-844-567-7002 or fill out the online application form to get your loan today.

 

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Busting the Myth around Car Collateral Loans

 

Owning a car in Canada is the second-best thing you can have after a house. Many people in Canada take loans for both these things. And not just this, they even use them as collateral to buy another house, a car or anything. It is rightly said that money makes more money. Right decisions are taken at the right time lead to an increase in the value of your valuables and assets. Not only a house or a car can be bought by keeping collaterals, but many more financial goals can be achieved by using your car as collateral. What is this collateral we are talking about again and again? Let’s find out.

 

What do you mean by collateral?

Collateral is a security that you pledge with the lender so that you can get some money in return for it. Once you’ve pledged the security, you cannot sell it until you repay the loan amount with interest. Only after you pay back the amount your vehicle will be free from the stamp of collateral. Till then, your car registration document will be endorsed as collateral. It is necessary to do so. After all, it is you who has taken the money against that car. Selling it to somebody else will put you and the buyer both at risk. So, in short, taking money by pledging your car with the lender is what car collateral loans are all about.

 

Car Collateral Loan and all about it

  • Who can – Anyone with good credit can get a loan against their car. By good credit, we mean two things, vis-a-vis good credit history and even better credit score. Car is one of the most valuable assets Canadians have. So, anyone with good credit and a car can get the loan. The vehicle being considered for collateral must be in the name of the person wanting the loan (borrower). A credit score of 630 or above will do good in your favour.

 

  • With whom – Many banks and lending institutions are there where you can go and pledge your car for money. These lenders no doubt take a risk every time they lend money, but pledging collateral reduces that risk to some extent. Hence, go to a verified and trusted lender only who’d do proper paperwork that’ll help both the parties involved.

 

  • Which car – The loan amount you’ll be entitled to, mostly depends on the condition of your car. Better the condition of your car, the more loan amount you can get. New cars can get you more as compared to second-hand ones. Model and style also decide the loan amount. Other factors include insurance, ownership, damages, vehicle age etc. which are inspected by an expert from the lender’s side only. Although the final say would be there’s only, you too can get it checked at your end just to have a rough estimate of the loan amount.

 

  • How much – Car collateral loans you’ll be getting against pledging your car might be more than what you need. Make sure to not get lured by more money. Take only the required loan amount. More you take, the more will have to be returned, that too with interest. Generally, 60 to 70 percent of your car value will be given to you as a loan. In rare cases, this number can even be 120 percent too. It all depends on the customer’s risk profile.

 

  • Interest rate – One can negotiate on this factor provided you have good credit. People with no credit history or bad credit be ready to pay more.

 

  • Advantages – The money you get from pledging your car can be used for important things. Good credit history can help you get a lower rate of interest and your amount may be disbursed quickly.

 

No doubt, car collateral loans are easy to get but there’s something important you must know. Any lender will give away a car collateral loan easily and quickly. But the lesser-known fact of these loans is that you’ll lose the custody of your vehicle if payments are not made in time. As long as you are regular with your payments, there’s nothing to worry about. These loans carry a lot of potentials. Customers can make more out of their car by taking a loan against it and using the money somewhere useful.

You can fill our application form online to get your loan now.

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