Are you looking for the ways by which you can get car title loans with ease? Well, if that is so then you might consider getting the same from Quick Cash Canada. Even before we move further and on to the procedure to get this loan, let us understand what this loan is.
What is a car title loan?
It is a kind of secured loan that one gets from money lending institutions. You get this loan by keeping a vehicle as a collateral with the lender. Several people opt for this loan for several reasons. Well, the reasons are the benefits that people get with this loan. You must be wondering about what are the benefits of this loan and how one can get this loan. Let us have a look at the same.
How to get a car title loan?
The process to get this loan is simple and also the process to get the loan approved is simple and quick. You will be required to follow certain steps in order to get the loan.
Step1- You will be required to fill out the lenders loan application available on the website. You will be required to provide all the necessary information as required by the lender.
Step2- After filling out the online application form for the loan, you will be required to submit the list of documents to the lender. The list of documents is minimal and includes the following-
- A lien-free vehicle.
- The vehicle should not be older than ten years.
- The second set of keys to your car.
- The title of your car.
- Registration and insurance of your vehicle under your name.
- A proof of your legal age according to your province.
- The proof of your permanent residency in Canada.
These are the documents that you will be required to present in order to get the loan.
Step3- Wait for the approval from the lender.
This is the easiest way by which you can get a car title loan i.e. by filling out an application form. Now, let us have a look at the reasons people opt for this loan. People get this loan for the fact that this is one of the easiest loans in terms of application process and loan approval. Let us have a look at the benefits of this loan.
Benefits of car title loans
- Easy and simple application process
When one thinks of getting a loan, he thinks of the long application and documentation that each loan application revolves around itself. Well, with this loan you do not have to go through the same thing. The application process to apply for this loan and to get this loan approved is simple and quick. Unlike other banks and money lending institutions you will not be required to go through a long process. All that you will be required to do is fill out an online application form and get the approval for the loan in no time.
2. No credit check
Yes, you read it right! There is no credit check required in order to get this loan. Several banks and other money lending institutions perform a credit check before lending you the loan. But with us, you do not have to worry about the same. Your credit score will have nothing to do with the loan. Even if you have a bad credit score you can still apply for the loan and get approved for the same.
3. No job requirement
Your job profile will have nothing to do with the loan. If you are in between jobs or if you are looking for better opportunities, you can still apply for the loan and get approved for the same. The loan will have nothing to do with your job profile.
4. Low-interest rates
Several people opt for this loan because of the interest rates that one gets with this loan. Our interest rates are something that attract our customers back to us. With these interest rates people can easily pay back the loan amount to the lender taking care of other day-to-day expenses.
5. Loan tenure period
One gets the loan tenure period of four years to pay back the loan amount. This makes it convenient for the borrower to collect the funds in these years and pay back the loan amount easily to the lender with the interest rates.
6. Borrower gets to keep the vehicle
The borrower gets to keep the car for the loan tenure period with the loan amount. With this the borrower can meet his daily routine with ease and also make use of the loan money to pay off the debts.
7. No pre penalty payment
If the borrower wishes to pay back the loan amount before the maturity date he can. There is no pre penalty payment for the same. Several banks and other money lending institutions charge a penalty for the prepayment but with this loan, you will not be facing the same issue.
These are the reasons people opt for car title loans instead of getting any other kind of loans. If you happen to face any sudden or emergency situation then you can rely on this loan and meet the situation with ease. Also, unlike other money lending institutions you will not have to wait for the loan approval for days, weeks or months instead you will get the loan approval the same day you apply for the loan.