A collateral vehicle title loan is the best bad credit loan any borrower can get even with a bad credit rating.
A collateral car title loan is a secured loan that uses collateral that is a fully owned and paid for car with its lien free car title. Collateral vehicle title loans offer the lowest interest rate as repayment of the loan is guaranteed by the security of the collateral.
What is a collateral car title loan?
Borrowers for collateral car title loans put up their car title as collateral for the loan. These are low interest rate loans with payments as low as $99 per month. Loan payment terms are long and last up to 4 years. The lender does not do a credit check because it’s not necessary for the loan approval that is given in one hour.
Other benefits of collateral vehicle title loans
Borrowers of no credit check title loans get to keep driving the car while making the loan payments. Since the loan is approved in one hour after the car is inspected and appraised, the cash is given on the same day. The loan amount is determined by the true market value of the car and this can be as much as $35,000.
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