Getting a car title loan to solve your cash flow problems is a great way to go. If you’ve been denied before, don’t give up!
Your local quick-cash lender can help by offering an auto title loan on older vehicles that may be worth less than they’re owed so the borrower can access funds promptly and efficiently. A car title loan is a popular option when people are looking for fast money because it’s easy and accessible and involves minimal paperwork.
Let’s look into what you need to do to get your title loan for your older vehicle and what to expect when getting a car title loan in Edmonton, Alberta.
Applying for a Car Title Loan
Getting a title loan on an older car is pretty straightforward. You’ll need to provide the following documents – government ID, proof of income, photos of the vehicle, and mileage. In addition, you must prove that you own the car (the title should be in your name) and have nothing owed to any bank previously involved with financing it.
- Your vehicle might be older and at the cusp of acceptance. Some lenders will accept cars as old as 12 years. This might only get you $400, but this could be precisely what you need.
Applying can be done online or in person and takes around 25 minutes. When doing so, you need a form of ID such as your driver’s license or passport – that way, they know who’s borrowing money from them! They usually approve loans within 24 hours, but if you’re approved on the same day, this could save time because there is no waiting period between application and approval.
Be Sure You Have the Proper Documents
- You can call a car title loans lender in Alberta to verify or find the information on their website.
- You don’t need to have established credit or have a credit check run to get a car title loan; you need to be able to hand over your vehicle’s title for collateral. For this reason, the bank mustn’t already own your vehicle, and its owner must have been transferred into your name so that they can take possession of what would otherwise act as security in any transaction involving financial compensation or credit.
Be Sure You Are Good With the Terms for a Title Loan
In Edmonton, understanding the terms of your car loan before you sign anything is essential. You can keep driving your vehicle for the entire time without exception and still retain ownership. The only thing that is taken from you in exchange for collateral is your title until they’re repaid with the loan.
So many people are using these loans because they are outstanding for many benefits. They are safe, as the payments are small and stretched over a very long period. You get to keep your car and get the equity out of your older car. This money could be used to pay off loans, invest in a business, pay off some old bills, use it as a down payment for another loan, and many other reasons people use it.
Cash Loans Alberta has been helping thousands of customers with their short and long-term financial needs.
Get approved for a loan today- no credit check required!
FAQ
What documents do I need to apply for a car title loan with an older vehicle?
To apply for a car title loan with an older vehicle, you will need:
- Positive equity in your vehicle and proof of ownership
- Collision and comprehensive insurance
- Insurance and registration in your name
- Proof of address
How quickly can I get approved for a car title loan on an older vehicle?
You can get approved for a car title loan on an older vehicle very quickly, often within the same day. Cash Loans Alberta offers instant approvals and can provide cash within a few hours if you meet all the requirements.
Do I need a credit check for a car title loan on an older vehicle?
No, you do not need a credit check to get a car title loan on an older vehicle. Cash Loans Alberta does not require credit or employment checks, making it accessible for those with good, poor, or no credit.
Can I keep using my vehicle after securing a car title loan?
Yes, you can keep using your vehicle after securing a car title loan. Cash Loans Alberta in Edmonton allows you to keep your vehicle on the road during the loan repayment period.
