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Car Loans Markam Ontario Accepts Vehicles as Collateral for Loan Applications

Dec 23, 2015

Apply for a loan using your vehicle’s equity as collateral

If banks have given you a hard time applying for a loan because of a lack of credit history or a poor credit score, there’s no need to worry. You can always apply for car title loans instead.

Why you should apply for car loans instead of wasting time on traditional bank loans

If you have a lack of substantial credit history or have a poor credit score, applying for a traditional bank loan will almost always lead to a rejection. This means that all the time and effort you’ve spent on acquiring and submitting the required documents and waiting days, maybe even weeks, for the processing would have all been a waste. However, with car loans, the whole processing period can be completed within only an hour. The only requirements you’ll need to apply for a car loan are a fully owned car with a lien free title, a valid driver’s license, and proof of permanent residence.

Your car’s true market value determines your maximum loanable amount

You can borrow up to a maximum of $65,000.00 based on the true market value of your vehicle while completely disregarding your credit history and credit score. The true market value of your vehicle can be appraised fairly and quickly based on factors concerning your vehicle such as its year, make, model, mileage, and engine condition.

Thanks to Canada Loan Shop, you can feel at ease knowing that your car is fairly appraised by our trained and experienced loan experts. You won’t need to worry about your car being undervalued and getting less money than you actually deserve. The application process is quick and simple. Call us now at our toll-free number 1-844-572-0004 or apply online.

How It Works

What Is a Title Loan? A car title loan can be a fantastic way to solve short term cash needs by using your vehicle to borrow money rather than with your credit score. The amount you are able to borrow is based your vehicle's value and condition, your individual loan needs, and your ability to repay.

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