Satisfy These 3 Requirements and Get Your Special Financing Auto Loan Kelowna British Columbia Approved

Unless you’ve been living under a rock, you’ve probably heard of title loans. This secured loan has helped millions of people who need cash fast. It uses a car’s title as collateral, thus allowing even those with poor credit scores, bankrupt, or are underemployed to apply for this loan. Aside from having your own car, there are other requirements you have to satisfy before your special financing auto loan Kelowna British Columbia is approved.

Critical Requirements for Title Loan Approval

Every lending company has its own set of requirements. But there three are non-negotiable and should be satisfied:

  • Age: The borrower should be of legal age before they can apply for a title loan. This means you have to be at least 18-years old. Saying that you’re legally emancipated doesn’t count. It’s because the law dictates that only those 18 and older can be held liable for a commitment like a loan.
  • Collateral with Value: You can’t just use any car. It should have enough equity to cover the loan. There are several factors that will determine if your car still has value, like the make and model, mileage, engine condition, etc. Newer models are likely to secure substantial loans. Conversely, cars that are a decade old, have high mileage, or considered salvaged will be rejected.
  • Proof of Income: You have to show the lender that you have enough money per month to pay your fast loan. You can submit payslips, pension slips, and proof you’re receiving alimony or disability.

The Best in the Industry

You’re working with the best with Premier Loans Canada. You can borrow as much as $45,000 and take advantage of the company’s low-interest rates. They also offer flexible payment options and low monthly payments. Log on to their website to apply or call their toll-free number 1-855-965-1650.

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