Simple And Short Process Of Getting A Car Title LoanSeptember 7, 2021
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It is a well-known fact that a car title loan is the easiest and the most convenient loan to have. When you find yourself in financial trouble and can’t find anywhere else to go, a car title loan can help you through your problem. But what is this loan really?
Meaning Of Getting A Title Loan On My Car
A car title loan can be availed using the title documents of a fully-paid car. The vehicle title should be clear and the car should not be older than 10 years. Simply put, the car title is kept as collateral or security for the loan. This loan does not require you to surrender your car to us. The requirements of a car loan are stricter and more time-consuming compared to those related to a car pawn loan.
Where Can I Use A Title On My Car
Unlike a traditional loan that you get from a bank or other financial institutions, a title loan will not dictate where you can only use the loan money.
You can spend the loaned cash for these purposes:
- To pay monthly expenses such as; credit card bills, utility bills, rent, etc. Some months may have more expenses than others, so this type of loan can be very useful.
- To get your car fixed to keep it running and to make it last longer. This is the reason why this loan is also called a car repair loan.
- Paying for emergency medical expenses or other emergency needs. The fact that the loan can be availed within 24 hours makes it a go-to solution for emergency fund requirements.
- To stabilise your credit score indirectly since the loan amount can also be used to pay the installment fees of other loans. When you pay loan obligations in a timely manner, your credit score improves automatically.
- When you are switching jobs and facing a financial crisis, a car title loan can be used. Just by giving your car title to us, you’ll get the appropriate funds to sustain yourself while still finding a job.
Where Can I Get A Title Loan On My Car From?
The fastest and the most convenient car title loan is available at Equity Loans Canada. We offer the lowest interest rates in the industry and can help you get through tough times. Contact our toll-free number at 1-844-567-7002 today to know more.
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