A collateral vehicle title loan means that no matter what your credit rating, your loan will be approved, always.
A collateral vehicle title loan uses a fully owned car and car title as collateral. When you get approved for this kind of loan you simply pledge your car and car title as collateral in order to get a loan amount. For people with no other options, collateral car title loans can be the most reasonable choice. The risk for both borrower and lender is at a minimum because the loan is already secured by the collateral.
How do collateral vehicle title loans work?
When you need cash, you can use the car title of your fully owned car to get a loan against the true market value of your vehicle. You go to the lender and settle for as much as $25,000 for the loan amount or for just a minimum of $1,000. The amount is usually based on the car’s true market value so long as the car’s engine and body frame is satisfactory and the vehicle is not more than 8 years old. No credit checks are needed for no credit check title loans so even if a borrower has bad credit the loan is still approved.
Loan payment terms
Collateral vehicle title loans are emergency loans, but no longer have short term payment periods. Loan payment terms for these loans now run from 1 year and are flexible for up to 5 years.
The lowest interest rates
High interest rates are one of the biggest drawbacks to unsecured loans or short term loans. However, a collateral car title loan carries the lowest interest rates in the whole lending industry and even lower when compared to other unsecured loans and short term loans. Up to 70 percent lower interest rate can be offered versus the closest competitors out there.
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.