A special financing auto loan Ajax Ontario is a good option when you need some fast cash. Unlike bank loans, title loans are easy to apply for and the requirements are fewer. One crucial document that borrowers should present is the car’s title of ownership. But what if you only have a bill of sale?
Is a Bill of Sale Enough to Get a Title Loan?
No, it’s not. You can’t get a car pawn loan by simply presenting a bill of sale.
A bill of sale is proof that you’ve legally purchased the vehicle. It acts as a contract that transfers ownership and therefore very important, especially when you’ve bought the car from a private party. However, it can’t take the place of a car title. If you want the option of using your car as collateral in the future, you should take steps to secure a title.
The first thing you need to do is get a surety bond to confirm the car is lien-free. Bring your bill of sale and other documents to your city’s DMV. They will discuss with you the cost of the surety bond you need to purchase from an insurance provider. The next step once you have the bond is to apply for a bonded title and get listed as the car’s new owner.
The Best in the Industry
You’re guaranteed of good deals with Premier Loans Canada. One of the best lenders in the country, they can provide you with as much as $45,000 in loans. They also offer low-interest rates, affordable monthly fees, and flexible payment plans. You don’t even have to worry about credit or employment checks. Sign up on their website to apply or call their toll-free number at 1-855-965-1650.
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