What Are Private Cash Loans Good For?

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What Are Private Cash Loans Good For?

Private Cash Loans

A private cash loan is a form of short-term financing that is made to cover the everyday as well as emergency expenses like; car repairs, monthly bill payments, sudden medical expenses, etc. 

This loan is usually paid back in full through regular monthly payments or through a lump sum payment. It is considered as one of the best sources of quick cash and emergency funds.

About Private Cash Loan

A private cash loan is also known as a car title loan and is actually short-term collateral loans. It can provide an instant source of funds for the borrower. The general principle of a title loan is the following; you get a quick cash for immediate needs and in exchange, you use your car title as collateral so that the lender can recover the loaned money by repossessing the car or by selling it in case of default. 

But we at Equity Loans Canada consider it as the last resort. This is because we focus on giving out loans at reasonable conditions and manageable interest rates which can be paid any time and without hassle.

Requirements For Getting A Car Title Loan:

There are certain requirements which you need to fulfill in order to qualify for a private cash loan:

  1. Proof of permanent residency in Canada.
  2. A valid Canadian driver’s license.
  3. Proof of ownership of a car that is not more than 10 years old.
  4. Proof of registration of car in the borrower’s name.
  5. An accident deductible insurance policy under the borrower’s name.
  6. Lien-free car title.

Benefits Of A Car Title Loan

  1. Quick cash inflow

If you need quick cash, you can get in touch with us to apply for a title loan. You can get hold of the cash within 24 hours of applying which in turn helps you address your quick cash needs.

  1. Low interest rates

If you are looking forward to repaying your private cash loan quickly, then we at Equity Loans Canada offer low-interest rates on our plans. The terms of the loan and payment schedule are also designed based on your convenience.

  1. No hidden fees

We don’t charge hidden fees for the loan. This gives us an edge among the others and makes us one of the leading providers. All the charges are disclosed right away during the time of application.

  1. You Can Keep Driving Your Car

As a title loan lender, we only need proof that your car has positive equity and can be used as the collateral of the loan. We won’t keep your car with us during the loan duration so you can keep using it like you used to.

  1. No Credit Checks

Unlike other types of loans, you don’t need to undergo a credit check or have a good credit score. We are only concerned about the equity of your car, the vehicle title and not your personal financial information.

To get your own private cash loan from us at Equity Loans Canada, just visit our website or call our toll-free number at 1-844-567-7002.

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