A vehicle title loan is the best option when you’re caught by surprise and need additional funds fast. It’s easy to apply for this short-term loan as you’ll only need a lien-free vehicle. What’s more, their verification and approval process is quick. But how much can you borrow from an auto finance Kelowna British Columbia company?
How Much Can You Get in a Title Loan?
A title loan revolves around your collateral. So, before you even consider applying for this loan, you have to make sure your car has enough equity. One of its main requirements is a car that’s 100% paid off. While a lot of companies follow this rule, some lenders are more relaxed. They will allow you to offer your car as collateral even if you’re still paying for it as long as you have enough equity.
How much you can borrow relies on your car’s value. The usual range for no credit check car loans runs anywhere from $1,000 to $5,000 or more. But it goes without saying that newer model vehicles and cars that are well-maintained have a better chance of securing a substantial loan. A lot of lenders will likely offer 25% to 50% of the collateral’s total value. It ensures that they can recover their investment quickly.
Lowest Possible Payment in the Industry
When it comes to loans, no other company is as reliable as Premier Loans Canada. They can offer you as much as $100,000 in loans, without undergoing a credit or employment check. The company also has one of the lowest interest rates and monthly payments around. Their streamlined application and fast approval process mean you can get the money you need in just a few hours. Applying is simple. Just log on to their website or call their toll-free number at 1-855-965-1650.
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