Overcome Your Financial Struggles With Title Loans

The idea of a bad event such as a job loss, medical emergency, or overdue credit card bills which can disturb your monthly budget, may give you sleepless nights. However, if you are fully prepared, the prospect of things that would be expensive and out of control can become less threatening. But sometimes our savings are not just enough. You may need a large amount of money which is not easy to arrange from relatives or friends. Title loans can be of great help at those times.

There is another possibility you can think of to get money through, for instance, banks and credit unions. Well, there are some aspects in it which you might not have thought through. For instance, the terms and conditions of these institutions are strict, and they take a good amount of time to disburse the money. Also, you should have a good credit score and must have a permanent income source. Now, this seems a little bit difficult.

Thus, you should think of the opportunity that is mentioned earlier. In title loans, what is required from you is just a vehicle that is fully paid for and should not be older than ten years. You must have a lien-free title to the vehicle.

What Is The Procedure To Apply For A Vehicle Title Loan?

The lending institutions such as Fast Canada Cash in Canada, do not want to trouble people with lengthy and complicated processes. This is why they have made the process quite simple, it takes three steps to apply for the Vehicle Title loan:

You can contact the lending institution directly and let them know about your requirements.

You can visit their office personally and apply for a loan from there.

Another way is to visit the website and fill out the application form available there. The form is basic and asks for a few details such as your name, contact number, make, model, and year of the vehicle, and your email address.

Before applying for a loan, you should be aware of the requirements needed from you. So, here is the list of required documents:

1. A fully paid for vehicle
2. A valid Canadian driver’s license
3. A lien-free title document
4. Proof of legal age
5. The vehicle must be registered and insured under your name
6. Proof of permanent residency
7. The second set of keys to your car

The next step is inspection of your vehicle. The equity value of the car is calculated based on the working condition and present market value of your vehicle. The equity value is the amount up to which you can apply for the loan.

Perks Of Getting Vehicle Title Loans

No Credit Check: It does not matter whether your debt score is good or bad. In the vehicle equity loan, only a fully-paid for vehicle is required and nothing else. If you have one, you are eligible to apply for the loan. Credit checks are not performed and thus, you can relax and apply freely.

No job requirements: Even if you are in between jobs or are looking for a better opportunity, you can still apply for equity loans.

The loan amount depends on the equity value of your vehicle: The money that you can get from the title loan depends entirely on the equity value of your vehicle. The better the condition of your car, the better the chance of getting more money.

Convenient application process: 

As mentioned earlier, you can easily apply online for the loan within the comfort of your home. The application form will not ask for any unnecessary details. You can also visit their local office to speak directly with the loan agents.

Same Day Approval:

 In the car equity loan Canada, the institutions such as Fast Canada Cash understand the urgency of getting money in your hands. They know how valuable your time is, especially when money is needed during an emergency. This is why they provide money to their customers within the same day of applying for a loan.

No prepayment penalties:

 You can close your loan account or pay back early if you manage to do so. You’ll not be charged with any prepayment penalties.

Keep Your vehicle with you: You no longer need to surrender your vehicle to the lending institution. You can keep it with you and use it as you were doing before. After getting approval for the loan, you can collect the cash and take your vehicle with you.

Now you must have got an idea about the title loans and how much they are beneficial for one who is in need of instant money. Thus, one can easily overcome their financial struggles by getting help from title loans. Don’t wait for a miracle to happen, apply for title loans and get your problems solved today. 

Florence Jonas