Can a Bill of Sale be Used in Car Collateral Loans Brantford Ontario?

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One of the best things about car collateral loans Brantford Ontario is its minimal requirements and streamlined application process. You essentially just need several government-issued IDs, proof of residency, proof of income, and your own car with a clean title. But some people are wondering if they can apply for a loan with a bill of sale.

Can I Use a Bill of Sale to Apply for a Title Loan?

Unfortunately, you cannot get a title loan with a bill of sale. This document is like a receipt for the vehicle you purchased. While it can be a key part of the purchase transaction between the buyer and seller, it’s not a title of ownership and can’t be used as such.

If you’ve bought a car from someone, one of the first things you should do is to transfer the vehicle’s title to your name. This is critical as it ensures you are the rightful owner. It also safeguards the seller in the event something happens to the car when you have it. For instance, the car’s previous owner can still be held accountable for any injuries or damages if the title is still in their name. Make sure the car’s title has been transferred to your name before you apply for a quick car loan. It’s the only way the lending company will accept your collateral.

Lowest Possible Payment in the Industry

Getting a title loan with Premier Loans Canada is fast and easy. The company can lend you as much as $100,000. They also offer low interest rates and flexible monthly payments. You don’t even have to worry about credit checks. The company’s fast approval process means you can get the money you need within the day. Applying is easy. Just log on to their website or call their toll-free number at 1-855-965-1650.

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