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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