Can I use the Car I Inherited as Collateral for an Easy Bad Credit Loan Nanaimo British Columbia?

Was your first car a clunker from your grandfather? You’re not alone. A lot of people were happy to inherit an old car. The year and mileage might not be what you expect, but an old car that’s well maintained and still running smoothly without problems is nothing to scoff at. You have the means to get around and you don’t have to buy it. The question many people want to be answered is whether you can use it as collateral for an easy bad credit loan Nanaimo British Columbia. 

Do Old and Inherited Cars Make Good Collateral? 

You can use a car that you received from a trusted family member or friend as collateral for a title loan. The caveat is that your name should be on the title. You probably started using an older car without thinking of having its title transferred to you. But this is one of the main requirements for getting a car pawn loan. The automobile should have a lien-free title and your name should be on the document. If it’s not, then the car isn’t yours even if you’ve been using it for years. The original owner must officially transfer ownership to you.

Lowest Interest Rates You Can Find 

Are you running low on funds? There’s no need to worry as Premier Loans Canada is around to assist you. We can offer you as much as $100,000 in loans. We also have the lowest interest rates and monthly payments around. We also offer flexible payment plans. You don’t even have to worry about credit checks. Log in to our website or call our toll-free number at 1-855-965-1650.

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