Is money posing a threat to your daily survival? Owning a car could really help provided it’s lien-free and fully paid for. This means you must not be making any monthly payments to a financial institution or even a dealer on the vehicle. If your car is fully paid off, you may be eligible for same-day cash collateral loan.
It simply means you can borrow money against the value of your car by putting up your title as collateral. Get the instant funds you need with Fast Canada Cash while we hold onto your car title. Don’t worry as that’s the only thing we’ll hold onto. We don’t need your car. You can keep using it as you normally would. Car collateral loans are the same as car title loans and auto equity loans, so don’t get confused. In all cases you use the title of your car as collateral in exchange for hassle-free loan. These loans are the best way out to resolve your financial situation. Be it some unexpected bills you need to pay off or you may require a short term loan to help get you back on your feet until the next paycheck comes. These same day cash collateral loans help you get approved immediately.
How to Get a Car Collateral Loan?
First things first, you must fill the online application form on our site. This online application will ask you about your basic details, such as your name, address, car year, make and model etc.
By doing so, you’ll get closer to some quick cash. We’ll be in touch after we review your information. The car details given will help us determine the approximate equity value of your vehicle. We will also inspect your car to assess its physical condition. Based on our assessment you can qualify for a loan amount up to $35,000.
During the loan process , you’ll be asked for the submission of the following documents:
- Your Canadian Driver’s License
- Car Registration and Insurance papers in your name
- Proof of Address
- The lien-free title to your vehicle
- Your car for inspection
- Spare set of keys for your vehicle
If all goes well with the document verification and car inspection, you’ll be handed your money! The car title will remain with us as security until you pay off the loan in full. You’ll also be glad to know that although our loan period can be up to 4 years, you can make early payments or pay off the loan sooner. Yes your read it right! And, we don’t charge any early payment fees for doing so. Also, you get to use your car as we don’t keep it locked up for the duration of the loan. Same day cash collateral loan is the best option for people who want instant money to get through the difficult times but also don’t wish to sell their vehicle.
How is the Loan Amount Determined?
You will need to provide some information about your vehicle to help us figure out the equity value of it.. You can do so online or over the phone with one of our representatives. Based on the equity value of the vehicle we will be able to disclose the loan amount you’d be eligible for. The equity, along with the condition of your vehicle determines the total amount you can borrow from us.
Why Choose Us For Your Same Day Cash Collateral Loan?
Your credit score will be the first thing a traditional lender like a bank, is going to check. They’ll also get into your credit history and check for all your past records. Aside from this, the interest will be dependent on these factors with a traditional lender. So basically, a poor credit score or poor credit history will attract a lower loan amount with a higher interest rate, let alone the case of no credit history at all.
The above scenario is only if you qualify. People with such records have bleak chances of getting through the eligibility criteria at traditional lenders. We, at Fast Canada Cash, don’t consider your credit history at all. We consider the equity value of your car for lending out the loan. Since it is a secured loan using your vehicle, we hang on to your car title papers temporarily until the loan is paid in full. We don’t get into your credit score or credit history details at all.
Another benefit of choosing us over anybody out there is that, we hand out same day cash collateral loans. No long wait times,no long line ups! ! Being employed is also not a determining loan factor to get a loan with us. So if you are between jobs, you are still eligible to loan with us considering you meet the other requirements. Banks and other institutions verify regular source of income as one of the important requirements for personal loans or any type of loan.
Connect with us today to get cash the same day!. Apply for a car collateral loan with Fast Canada Cash! Fill out the online application form and we’ll contact you as soon as possible. Call us (toll-free) 1-(888) 511-6791 and get the money you need.
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