How is a Poor Credit Car Loan Mississauga Ontario Different From a Bank Loan?

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Bank loans used to be the only option people had when they needed a lot of money. But the lending industry is always changing. In the 1990s, it came out with a new service that would benefit countless consumers – the auto title loan. It was quite different from the conventional loans of the time. Here’s what makes the poor credit car loan Mississauga Ontario unique. 

Distinct Features of a Vehicle Title Loan

  • Minimal Requirements: One thing that sets title loans apart is how few their requirements are. The applicant just needs a valid ID, their car’s title, proof of income, and a bill in their name as proof of residence. Some lenders might ask for proof of car insurance as well. 
  • Super Fast Application Process: This is another aspect that’s unique to specialized car equity loans. You can apply online or in-person at the lender’s office You can fill-up the form in minutes. This is usually followed by a car inspection. You have the option to either bring your car to the lender’s office or do it virtually. The latter entails taking photos of the collateral and sending it to the lender. 
  • Quick Approval: Bank loan applications take weeks to process. Title loan lenders can approve your loan in a matter of minutes. Because there’s collateral covering the loan, lending companies don’t do extensive credit checks anymore. 

Borrow More Money Than Any Competitor has to Offer

When you need fast cash, Premier Loans Canada is the company to call. This trusted lender offers as much as $100,000 in loans. They have the lowest interest rates and monthly payments around. They also offer personalized payment plans. Sign up on their website or call their toll-free number at 1-855-965-1650.

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