You can apply for loans on bad credit by using your vehicle as collateral
With car loans, you can apply for a loan simply by using a property you own as collateral for your loan application. In the case of vehicle title loans, which are also considered as equity loans, your maximum loanable amount will be determined based only on the condition and true market value of your vehicle. Also, you will not be required to undergo a credit check to determine your credit score when you apply for a vehicle title loan.
Why you will not need to undergo a credit check to determine your credit score
Because vehicle title loans fall under the category of no credit check title loans, it will not be necessary for you to undergo a credit check in order to be approved for a loan. With the most minimal of requirements, you can be approved for loans of up to $65,000.00 regardless of your credit score or employment status.
It’s easy to pay off your vehicle title loan because of the low interest rates and flexible loan terms
Vehicle title loans offer very low interest rates and very flexible loan terms making it easy for you to never miss your monthly payments. This makes it so that the chance of you defaulting on your vehicle title loan will be very slim.
With Canada Loan Shop, you can apply for vehicle title loans on short notice and be approved for up to $65,000.00 within only one hour after you submit your loan application. Requirements are minimal and interest rates are low, making it one of the more convenient loaning options available for you. To apply for a vehicle title loan right now, call us at our toll-free number 1-844-572-0004 or simply apply online.