4 Conditions that Will Qualify You for a Bad Credit Score Auto Loan Kelowna British Columbia
Getting a bad credit score auto loan Kelowna British Columbia is a good option when you need some extra cash fast. Its streamlined application process and swift approvals mean you can save valuable time. You also have a lot of lending companies to choose from and it’s so easy to compare interest rates online. But there are several criteria you have to meet.
Conditions that will Help You Qualify for a Loan
- You must be of age. You should be legally an adult when you apply for a fast loan. The legislation states that only adults can be legally obligated to repay loans, which is why lenders are strict with the age limit.
- Your vehicle should not be more than eight years old. The majority of lenders only accept cars that are relatively new as collateral. This is to ensure they can get a good value if they need to sell it. However, there are companies that are willing to accept 10-year-old cars.
- You have a clear title to your car. Most lenders will require a lien-free title. While there are companies willing to accept vehicles that aren’t fully paid off, it will still depend on how much equity the owner has accumulated.
- The car has both comprehensive and collision insurance. Some lenders are not satisfied with basic coverage and will demand a more comprehensive one. This is to ensure that in the event of an accident, the vehicle has enough coverage for repairs. Lenders need assurance that car will be restored in case they have to repossess it.
The Best in the Industry
You’ll be working with the best lender in the industry with Premier Loans Canada. They offer their clients up to $45,000 in loans. They also have the lowest interest rates and even offer flexible payment plans. Log on to their website to apply or call their toll-free number at 1-855-965-1650.
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