If you need emergency funds you need to consider getting a collateral vehicle title loan.
Short term loans such as payday loans and unsecured loans such as bank loans have been decreasing annually since 2010 by 7 percent on average each year. On the other hand since the 2010 recession collateral vehicle title loans have been on the rise at around 18 percent annually. This increase in the number of borrowers applying for a collateral car title loan means that more and more people are finding these loans as the best solution to get emergency cash for financial emergencies and unexpected money problems.
If you want to get the best from a collateral car title loan, consider the following:
No credit checks are necessary
Credit reports and credit scores will not matter because the loan is secured by the collateral and will not affect the loan approval. A fully owned car and its car title is enough to be collateral. The car title should be lien free. All the lender needs is to inspect and appraise the car for its true market value. This determines the loan amount for collateral car title loans so that between $1,000 and $25,000 can be borrowed.
Collateral vehicle title loans have the lowest interest rates
Interest rates are the lowest when compared to other unsecured loans and short term loans and the lowest in the whole lending industry. Up to 70 percent lower interest rate can be offered versus any competitor out there. Loan approvals come in just one hour and the borrower is also able to continue using their car even while paying off the loan.
Short loan terms are no longer the norm
No credit check title loans have loan payment terms starting at 1 year and are flexible up to 5 years. Also, should the borrower pay off the loan before the end of the loan term, no early payment penalty will be charged.
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. You’ll speak with a member of our dedicated team and see how Snap Car Cash can help.