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Everyone faces a hard time once in their life time when they are dealing with unexpected financial problems like medical expenses, funerals, marriages, repair work etc. These unexpected problems can only be handled by getting the cash instantly. The options become limited if you have a bad credit score.  But what is the fastest way to get cash in such situations?

Car Title Loans Are Best Source For Immediate Funds!

Yes! Car title loan is the best way to get the cash fast when you need it urgently for your emergency requirements. It allows you to get the cash even with your low credit history. This means your credit score doesn’t matter for the title loan approval.  if you own a lien-free car,  then it is enough for the loan process! You can use it as collateral and get the money you need.

What Is A Car Title Loan and How Much Money You Can Qualify For?

A Car Title Loan is one of the best options to get quick cash for your financial problems in life. It is a secured loan where the borrower can use his vehicle title as collateral to borrow funds for their money problems. To avail these quick cash loans, you must submit documents of your vehicle. The loan amount depends on your vehicle’s equity. Once your loan is repaid, the lien is removed, and the car title is returned. If the borrower fails to repay the loan amount then then the lender has the right to sell the vehicle to get the loan amount back. The loan terms are long and flexible, which allows you to pay off your loan over time. Such loans come with competitive interest rates and convenient payment options.

You can keep your car with you throughout the loan process and can also drive off with the cash which is given to you on the same day of approval.

 The amount of money that you can qualify for depends on various factors. You can easily borrow money based on the market value and condition of your lien free car. The age, make, model etc are also the factors that are considered. If your car is in good working condition, you can easily qualify for a higher amount of cash.

Requirements To Get A Car Title Loan!

Lien-free Vehicle-

You should own a lien free vehicle which is not much older than 10 years. This is because it acts as security for the loan.

Age Of Maturity-

To get a car title loan, you must be the age of maturity or 18 years above in your respective province

Car Documents-

You should have proper registration and insurance documents in the name of your vehicle.

Driver’s License

You must have a valid driver’s license.

Permanent Residency Proof

You should have a proof of permanent residency

Spare Keys

You also require a second set of keys to your vehicle

 Benefits Of Applying For  Car Title Loans

There are several benefits  you can avail if you apply for a car title loan. These include:

Quick and Easy process

The loan process for a title loan is usually as easy and fast as compared to other traditional loans. For a car title loan, all you require is a fully owned lien free car.

Receive Cash On The Same day

Once you get loan approval, you receive money on the same day for you tough financial condition.

No Credit Checks

People with poor credit or no credit score can easily apply for these loans as they are secured against the vehicle title. So if they own a vehicle outright, this loan is the best option as there are no checks on credit history!

No Job is Required

You do not require a job to get approved for these loans. There are no employment checks on such loans.

Low Monthly Payments

This type of loan usually has small monthly payment plans that are affordable and manageable.

Lowest  Interest Rates

You get the reasonable and lowest interest rates in the industry on these loans

Prepayment Penalties

There are No prepayment penalties on paying off these loans early or before time. You can pay back any time according to your requirements.

Flexible Repayment plans

You can make payments at any time in varying amounts because of the flexible and longest repayment plans

Keep Your Vehicle

One of the major advantages that people enjoy by getting car title loans is that they can keep their vehicle with them during the entire loan process. They can easily use it for their day to work or requirements while using its vehicle title as collateral for the loan.

These were the requirements and various benefits associated with car title loans. You can easily get these loans from various lending organizations around you that provide the best loan options if you are facing a financial crunch in life.

 Reach out to their nearest office location and complete your paperwork. Get the cash in your hands in an hour with car title loans!