Collateral vehicle title loans or bad credit loans are getting an all-time high by beating out short term loans at their own game.
In the last four years traditional short term unsecured lending has been going flat or has been decreasing. In the meantime online collateral vehicle title loans are seeing a constant rise in the number of borrowers and even return business. This is because a collateral car title loans carries better benefits and advantages than any short term loan out there.
Collateral vehicle title loans carry lesser risks
Online collateral car title loans carry less risk because all you need to qualify is a fully owned car as collateral. The car title must be lien free because this is the actual collateral that you leave with the lender and a lien is placed on it. This is removed when the loan is fully repaid. The loan is basically secured due to the collateral.
Collateral vehicle title loans have better benefits
No credit check title loans carry the lowest interest rates in the whole lending industry and even lower when compared to short term loans. Up to 70 percent lower interest rate is offered versus any competitor out there. Loan repayment terms run from 1 year and up to 5 years, the most flexible and adjustable you will ever get. No credit checks will be made because the loan is already secured by the collateral.
So long as the vehicle title is in the name of the borrower and lien free, the loan can be approved in just one hour. The lender simply has to inspect and appraise the car for its true market value. This is to determine the loan amount based on the car’s real value. Between $1,000 and $25,000 can be borrowed based in this value. The borrower then only needs to show a valid driver’s license and proof of permanent residence.
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.