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Use Your Vehicle’s Equity to Apply for a Loan with Equity Loans Durham Ontario

Dec 23, 2015

Use your vehicle for a loan application

Instead of going through the lengthy and time consuming standard operating procedure that comes with applying for a traditional bank loan, why not apply for car title loans instead? Compared to traditional bank loans, the process of applying for an equity loan is much simpler and the processing period is much shorter. The only requirements you’ll need to apply for a car title loan are a fully owned car with a lien free title, a valid driver’s license, and proof of permanent residence.

Why you need your vehicle to apply for an equity loan

Car title loans fall under the category of equity loans. This means that you can use the equity of your vehicle to take out a loan. Your credit score and credit history will not affect your maximum loanable amount. Instead, you can loan up to a maximum of $65,000.00 depending only on the current true market value of your vehicle.

How the true market value of your value is determined

Your vehicle’s true market value will be determined by trained and experienced loan experts based on its year, make, model, mileage, and engine condition.

Keep driving even after your loan is approved

You’ll be able to keep driving your vehicle even after your loan is approved and you receive the funding you need. You won’t be required to turn over your vehicle or stop using it at any time during entire term of the loan.

With Canada Loan Shop, you won’t have to make any adjustments to your daily routine after your loan is approved. You’ll be able to get the funding you need and still continue to drive your car. Low interest rates and long loan terms make it easy to pay off your loan. 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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