Auto title loans typically receive mixed reviews. While some would portray these loans as lesser than bank loans, many satisfied borrowers would say they have been helpful in emergencies. Regardless of what side you’re on, there’s no denying that there are good reasons for applying for a bad credit score auto loan St. John’s Newfoundland & Labrador.
Valid Reasons for Getting a Title Loan
- Easy to qualify. Most title lenders don’t bother with credit checks since there’s collateral involved. Plus, the requirements are fewer than what conventional loans would demand. You basically just need to have a lien-free vehicle title, payslips, proof of residence, and a government-issued ID.
- The application can be done online. There are thousands of lending companies that can be found online. You don’t even have to go to the company’s physical location. Just go to the lender’s official website for the application forms.
- Same day approval. One reason for the popularity of car collateral loans is the quick approval process. This is because the collateral is considered to be enough to cover the lender’s investment.
- Cash deposited straight to your account. Borrowers can even get their hands on the money they need on the same day. The lender will transfer the loan direct to your bank account so you can use it immediately.
- Borrow as little or as much as you require. Your loan will depend on your vehicle’s value. For instance, if the lender estimated your car’s value at around $10,000, you are qualified to borrow that same amount.
Faster than the Competition
Getting a loan from Premier Loans Canada is a good move if you’re in an emergency. You can borrow as much as $45,000, without worrying about credit or employment checks. The company also offers low-interest rates and flexible payment plans. Sign up at their website or call their toll-free number at 1-855-965-1650.
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