A pink slip loan is sometimes called by this name, although the more common name or term is collateral vehicle title loans or more simply car title loans.
A pink slip is actually the Certificate of Vehicle Ownership. This pink slip is what we also call the car title. This is the car title that is left with lenders of collateral vehicle title loans to serve as collateral when applying for this type of loan. The pink slip or car title must be lien free to qualify for a collateral car title loan.
Collateral vehicle title loans are preferable to other unsecured loans or short term loans because:
- The owner has the benefit of keeping the car while repaying the loan.
- The process is fast and easy. You get a loan approval in one hour.
- It does not require any credit report or score because they won’t matter with the loan approval.
- All that is needed to be submitted is a valid driver’s license and proof of permanent residence.
- The car is inspected and appraised for its true market value.
- Between $1,000 and $25,000 can be borrowed.
Loan amount is based on the true market value of the car
Collateral car title loans borrowing is based on the true market value of the car and the loan amount is determined by this as well as:
- Overall vehicle and engine condition.
- Total mileage of the car.
- Make and model year of the car. Vehicles within 8 years from purchase are usually safe.
Very low interest rates
When it comes to the interest rates, collateral no credit check title loans offer the lowest interest rates in the whole lending industry. Up to 70 percent lower interest rate can be offered versus any close competitor out there. Also, loan payment terms start off at 1 year and are flexible up to 5 years.
At Snap Car Cash, we loan you money based on the value of your vehicle, not your credit score. That means that you have fast access to cash whether you have bad credit or no credit at all. Call Snap Car Cash free at 1-888-886-SNAP (7627) and apply now or apply online. It’s almost a fast-money guarantee that you can be out the door in an hour with your loan amount. We’ve got the process down pat. Be on the winning side of annoying debt. Just think of Snap Car Cash as the beginning of a way out.