If you’re facing a sudden financial emergency, you can get a collateral vehicle title loan to solve that problem.
A collateral vehicle title loan is a loan that allows you to pledge a car and its car title as collateral in exchange for the loan amount. These collateral car title loans are sometimes called no credit loans because credit ratings have no bearing on the loan approval.
The basics of collateral car title loans are simply that, just basics
To be approved for collateral vehicle title loans, you need to have a fully owned and paid for vehicle as collateral and its vehicle title must be lien free. The lender decides how much the loan amount will be based on the vehicle’s true market value. As little as $1,000 and as much as $25,000 can be borrowed based on this.
Interest rates and loan payment terms
Interest rates for collateral vehicle title loans are the lowest when compared to other unsecured bank loans and short term loans. It’s also the lowest in the whole lending industry. Up to 70 percent lower interest rate can be offered versus any close competitor out there. Loan payment terms from 1 year and are flexible up to 2 years.
Other benefits of collateral vehicle title loans
Even while paying off the loan during the term, you can continue using your car and keep driving it. If you can pay off the loan early or before the term ends, no early payment penalty will be charged. If you have bad credit or no credit, it will not matter because no credit checks are needed for the loan approval. This is because no credit check title loans are secured by the collateral.
The bottom line for collateral car title loans
Collateral vehicle title loans are considered as the best solution should everything else fail in solving any financial problem or cash emergency. The benefits alone should attract anyone with these problems, especially those with bad credit or no credit.
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. You’ll speak with a member of our dedicated team and see how Snap Car Cash can help.