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There’s one financial service that has helped millions face emergencies this last decade, and that’s the auto title loan. It’s a secured loan designed to help everyone who has a vehicle they can use as collateral. It’s easy to qualify and apply for a car pawn loan Ajax Ontario. But as with any other loan, you can’t be 100% sure you will get approved. But these key requirements will improve your chances of getting the loan you need.
What You Need to Secure Title Loan Approval
- Acceptable Government Issued Identification: Lending companies will require proof that you are 18-years old or older. Only adults are eligible to apply for any loan. It’s because only adults can be held accountable to pay back loans.
- High-Equity Vehicle: Title loans are secured loans because they need collateral. The whole loan is based on car equity. The vehicle should be lien-free, although some lenders do accept cars that the owner is still paying for. It should ideally be less than 8-years old, has low mileage, and runs well.
- Stable Income: It’s given that you can’t qualify for a loan if you don’t have an income stream. You have to provide proof that you can pay back the loan. You can submit payslips or a copy of your bank statement. If you’re retired, you can show your retirement or disability slip.
Same Day Cash
Applying for a loan is fast and hassle-free with Premier Loans Canada. We can offer you as much as $100,000 in loans. Our interest rates are lower than other companies and we also offer affordable monthly payments. We also have flexible payment plans and extended loan terms. Log on to our website to apply or call our toll-free number at 1-855-965-1650.
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