Is It A Good Idea To Borrow Using My Vehicle?

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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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