People usually take out a loan to support and grow their business, purchase a new home or for personal needs. The loans are generally provided by traditional banks or credit unions. This usually applies in favor of those who have perfect credit scores or credit history to show to banks. Without good credit, most banks would not take time to entertain a loan application. A loan is a risk that a bank or a creditor takes when lending money. The credit score helps a lender determine the credibility of how likely a borrower can repay a loan. Secured loans would still be on the table for someone with poor credit but with extremely high interest rates. This will add more financial burden causing the borrower the inability to make timely payments, further negatively impacting their credit score.
Having mentioned the above, people with unsatisfactory credit scores are frustrated as most banks just don’t want to take the risk. Surprisingly, there are many people with bad credit or poor credit history in Canada, ithan ones with perfect ideal scores. Does that mean they have no financial options available? No, that’s not the case! Same Day Cash Collateral Loans are easy and convenient secured loans. These loans are secured using the title of your vehicle. In order to loan you would need to own a fully paid vehicle in your name. This vehicle would serve as collateral for the loan and the loan amount will be based on the equity value of your car.
Your search for a lender providing loans without credit checks ends today! At Same Day Cash Loans, we offer the best car title loans around. These loans work just like a personal loan but we do not perform a credit check to consider your eligibility. Since we use the title of your car as collateral, your credit score is not a factor in the loan process..
Our car title loans create a win-win situation for both of us. You get the money to bail yourself out of a tough financial situation and we get the title documents as collateral. Unsecured loans provided by banks or credit unions are processed with utmost care. Credit checks, background checks and any other formalities are performed before approving the loan which usually takes time. This isn’t the case with our same day cash collateral loans. Our loan requires less than 24 hours to process. All we need is proof of permanent residence, your Canadian driver’s licence, car registration and insurance documents in your name , along with clear title documents. The number one advantage of our car title loans is that we don’t keep or store your vehicle for the duration of the loan. You get to keep driving your vehicle as you make your monthly payments. There is also no penalty or fee in case you want to pay off your loan early as our auto title loan is an open loan.
You must have the following documents.
So, no more worrying about what life throws at you. Call us toll free 1-855-904-9880 or apply online to get the best interest rates and payment options to meet your short-term money needs.