Low interest rates and longer terms are making collateral vehicle title loans much more attractive than unsecured loans or short term loans.
When you’re in need of fast emergency cash because of a financial emergency, what can you expect from traditional unsecured bank loans and short term loans? The worst thing is the 156% in interest rate. Good thing that collateral vehicle title loans have the lowest interest rates and the most flexible payment terms.
Collateral vehicle title loans are more practical
All that is needed to qualify for a collateral auto title loan is a fully owned and paid for car. Also the car title must be lien free because the car title is left with the lender who then places a lien on the car title until the loan is fully repaid. The lien is then removed. While repaying the loan the borrower is allowed to keep using the car. The car is inspected and appraised for its true market value for the loan amount. Between $1,000 and $25,000 can be borrowed based on this.
Credit checks aren’t necessary for collateral vehicle title loans
Another main factor with collateral car title loans is that traditional forms of loans like unsecured bank loans and short term loans cannot be an option for borrowers with bad credit or no credit at all. Therefore no credit checks need to be done for the loan approval.
Collateral vehicle title loans in contrast to unsecured loans
The biggest contrast between unsecured or short term loans and no credit check title loans is that the latter offers the lowest interest rates in the whole lending industry. Up to 70 percent lower interest rate is offered versus any competitor out there. Loan payment terms are the most 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.