If you’re in need of quick cash, a car title loan could be the perfect solution!
With this type of loan, you can leverage your vehicle’s value to access funds without needing to part with your car. For those in Calgary, a title loan can be a fast and accessible way to get cash in hand. Here’s everything you need to know about securing a car title loan in Calgary, including the benefits, application process, requirements, and repayment terms.
Understanding Car Title Loans
A car title loan allows you to borrow money using your vehicle as collateral. Rather than checking your credit history, the lender bases the loan amount on the value of your car. This means that you may still qualify for a title loan even if you have a low credit score or limited credit history. While you use your car as security, you can continue driving it during the loan term, making it a convenient option for those needing immediate cash without giving up their vehicle.
Benefits of Car Title Loans in Calgary
Car title loans come with several advantages, making them an attractive choice for those facing financial needs. Key benefits include:
- Fast Approval and Access to Cash – Car title loans offer a quick approval process, often providing access to cash within 24 hours.
- No Credit Check Needed – Since your vehicle secures the loan, credit checks are typically not required, which is helpful for people with no or low credit.
- Keep Your Car – Although the lender holds the title as collateral, you can continue using your vehicle throughout the loan term.
- Flexible Loan Amounts – The amount you can borrow is based on your car’s value, allowing for flexibility depending on your needs and your vehicle’s worth.
Cash Loans Alberta Application Process
The application process for a car title loan in Calgary is simple and usually fast. Here’s a quick overview:
1. Fill Out the Online Application
To start the process, complete the online application. Then, send it in upon completion and wait for our response. A few preliminary requirements include:
- Verification of Address
- Your name on the insurance & registration
- Proof of vehicle ownership and positive vehicle equity
- Collision & comprehensive insurance
2. Receive a Quote
One of our specialists will contact you shortly afterward to discuss your loan and associated rates.
3. Instant Approval
If you’ve met our preliminary requirements (see step one), you will get an instant approval for your car title loan.
4. Drive Off With Cash In Hand
Once your application is approved, Cash Loans Alberta provides the cash on the same day, generally within a few hours. You take the funds and drive off with your car and cash in your possession.
How Much Money can I get With a Title Loan?
It depends on a number of factors. Some of these variables include the following:
- The lender you’re applying to for the loan
- Your capacity to repay the loan
- The state and value of your car
It’s recommended you only borrow the minimum amount of money you require.
Repayment Terms
Car title loans usually have shorter repayment terms than traditional loans. Repayment terms may vary by lender, so be sure to understand how long you have to repay the loan and any penalties for early or late payments. Additionally, it’s essential to keep up with repayments, as failure to do so could risk your car being repossessed by the lender.
Most lenders offer flexible payment options, including weekly, bi-weekly, or monthly payments, depending on your financial situation. Reviewing the repayment plan and making a budget to ensure timely payments can help avoid extra charges and maintain your vehicle’s security.
Why Cash Loans Alberta?
At Cash Loans Alberta, we are sympathetic to your circumstances. And this empathy is the reason why we provide the advantages that other lenders dismiss!
- We Say APPROVED! When Other Lenders Say NO!
- Lowest Interest Rates: 9% – 28.5% APR.
- Proud To Offer The Auto Equity Loan!
- We Offer Short And Long Term Loans.
- Flexible Payment Options.
- Low Monthly Payment Rates.
- Loan Repayment terms: 90 Days – 60 Months
- FlexTerm Loans – Pay off your loan at any time without penalty.
Get quick cash in your hands and apply today!
