To qualify for a collateral vehicle title loan, all you need is to meet the following criteria:
- Be at least 19 years old or older.
- Have a car that must be fully owned and paid for. Lenders for collateral vehicle title loans will inspect and appraise the car for its true market value to determine the loan amount.
- Have the car title fully in your name and the title must be lien free.
- Make sure that the overall engine performance and the condition of the car is more than satisfactory.
You must also be able to provide the following:
- A valid driver’s license.
- Proof of permanent residence. This is normal for all collateral car title loans for both the lender’s and borrower’s protection.
- The car itself for inspection and appraisal after which the loan is approved in one hour.
No credit checks are needed
No credit checks or employment checks will be done by the lender once the car and car title has been secured as collateral. Likewise, no early payment penalties will be charged should the borrower be able to pay off the loan early before the end of the flexible 1-year and up to 5-year repayment terms. Loan amounts can be between $1,000 and $25,000 for no credit check title loans.
Interest rates and terms
Loan interest rates for collateral car title loans are the lowest compared to traditional loans such as unsecured bank loans, car pawns, and short term loans. Interest rates are also the lowest in the whole lending industry. Up to 70 percent lower interest rate can be given versus any close competitor out there. Loan terms are no longer the traditional 30 or 60 days. They can be as flexible starting at 1 year and can be adjusted up to 5 years.
Snap Car Cash is a leading collateral title lending company. This locally-owned and managed company has been helping in individuals with their finances offering collateral title loans for vehicles. They give borrowers a chance to get quick cash easily, with the lowest interest rates and loan payment terms from 2 years to 5 years. For more information about the company, its title loans and other services, call Snap Car Cash free at 1-888-886-SNAP (7627) and apply now or apply online.