A collateral vehicle title loan is a secured loan for emergencies and urgent payments that only needs a fully owned car as collateral.
A secured loan is a loan that uses an asset with value from the borrower as collateral. In the case of collateral car title loans all that is needed as collateral is a fully owned car and its car title must be lien free since the car title is left with the lender and a lien placed on it until the loan is fully repaid.
Secured collateral vehicle title loans in contrast to unsecured loans
The opposite of a secured loan is the unsecured one. It is not connected to any specific piece of property. However, an unsecured bank loan or unsecured short term loan is dependent on the borrower’s credit rating for the loan approval. Thus, if the borrower has bad credit or even no credit then these loans are not approved.
In the case of secured collateral vehicle title loans the borrower may have bad credit or no credit but the loan is still approved because the loan is secured by the collateral. Loan approval is given in one hour and the loan amount is determined by the true market value of the car after a detailed inspection and appraisal.
Benefits and terms normal for secured vehicle title loans
- Collateral no credit check title loans can offer up to 70 percent lower interest rates versus any competitor out there.
- Loan payment terms are adjustable starting at 1 year and can be flexible up to 5 years.
- The loan amount can be as low as $1,000 and as high as $25,000. No early payment penalty will be charged if the loan is paid off early.
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.