Frequently Asked Questions

We’re here to answer your questions and address any concerns you may have.

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General Questions

A cash loan charges borrowers interest and doesn’t require any collateral. This arrangement makes a cash loan an unsecured personal loan.

You can apply for a car loan at Cash Loans Alberta. Simply follow our 4-step process to apply for your loan today:

  • Fill out the online application
  • Receive a quote from one of our specialists
  • Get approved
  • Drive off with cash in hand

Normally, payday lenders will ask that you possess: A prepaid card, credit union, or an active bank account. Moreover, you’ll need to provide proof of income from employment, valid identification, and be a minimum of 18 years old.

Taking out a car loan requires you to be well informed. Here are some important things to know before you take out a car loan.

  1. Flexibility with repayment: When selecting your car loan lender, see if they charge any prepayment or pre-closure penalties. Choose the lender who charges the smallest penalty for prepayments on car loans.
  2. Read the fine print (carefully!): The car loan might look good when you apply, but afterward, you may become trapped in the wrong product loan. Carefully read the loan agreement’s fine print to avoid this outcome.
  3. Car Loan Alternative: People sometimes fail to make the grade for car loan eligibility. But that doesn’t mean they can’t get a loan. Check loan alternatives to arrange the money for purchasing a car.

If you just went through bankruptcy, you don’t need to wait years to finance a car. As a matter of fact, getting a car loan and staying current with your payments each month is a great way to rebuild your credit. But keep in mind that at this point, it’s crucial to avoid bad debts.

At Cash Loans Alberta, we provide Bad Credit Loans and Car Title Loans.

Yes. We offer bad credit loans with the lowest interest rates, flexible payment options, and same-day approvals.

Loan Application Information

Equity Loans help you access the money you have tied up in depreciating assets. You have worked hard and have acquired assets (Automobiles, Motor Cycles, RVs, and Power Sport items); however, most, if not all, of these assets depreciate over time, some faster than others. Unforeseen circumstances have made it necessary for you to access Money, “The Equity Loan” can do just that! Maybe it is an unexpected expense, or you require Bridge or Gap financing until things stabilize, or you are tired of having the Money You Need Today tied up in a depreciating asset that sometimes sits in seasonal storage and costs you Money. The sooner you access the equity in these assets, the More Money you can get!

No! Cash Loans Alberta is an Asset based lender. Your Automobile, RV, trailer, boat, motorcycle, trailer, farm equipment or power sports vehicle acts as collateral against the loan, there is no job requirement, and with our flexible term options, we strive to make your monthly payments as low as possible.

Don’t let your credit score or history keep you from applying for car title loans. Cash Loans Alberta’s financing methods are secured through the value of your vehicle, not by your credit history. This means if you fully own any car, truck or motorcycle and have a clear title, we can give you money.

ABSOLUTELY! If your application is approved, Cash Loans Alberta can provide you with money the same day, generally within a few hours; you collect the money and then drive off with your car. It is that simple.

Loan Fees:

The fees include an Auto Check (to check for accidents and vehicle origin), a Lien Search (to ensure the vehicle is free and clear of all liens), and a Vehicle Inspection / Evaluation.

Late or non-payment:

In the event of late or partial payment, interest fees will be charged daily on the outstanding amount. Failure to pay will result in legal action, as per Personal Property Securities Act (PPSA) Alberta.

Bad Credit Loan

A bad credit loan refers to the sum of money loaned to people with a credit score under 575. When properly managed, bad credit loans can help improve your credit score and even help you reach your monetary goals. You can qualify and apply for this loan if your credit score is under 575. Moreover, you can quickly find online lenders whose specialty is bad credit loans.

There are many ways to rebuild your credit score. Some of these methods include:

  • Reduce your credit use
  • Use a personal loan to pay your card off
  • Try asking for late payment forgiveness
  • Dispute incorrect information disclosed in your credit report
  • Review (and clearly understand) your credit score
  • Consider adding other bills (phone, utilities) to your credit report

Yes, even with bad credit, you can still be approved for a car loan in Alberta. Go to a dealer or retailer for assistance. Some lenders will consider other variables other than your credit score, such as your income.

Bad credit loans are a temporary solution for your money troubles. These loans can buy you time until you get your finances in proper order.

Bad credit loans can fall anywhere between $500 to $50,000. But of course, the loan amount will fluctuate based on a variety of factors such age, financial standing, employment status, and more. However, regardless of the loan amount, it’s important to be responsible with your loan as interest rates do apply. So start with a smaller loan if possible, unless you’re certain you won’t default on the payments of a larger loan.

Failing to repay a bad credit loan can result in incurred fees and penalties. Moreover, you can expect a default to show on your credit report.

No. Certain bad credit loans permit a down-payment, but it’s usually not necessary. Normally, the lending agency will deposit your loan into your bank account. At that point, you’ll need to repay it in installments with interest over time. Something to remember: If you do use a down-payment for your bad credit loan, the odds of approval increase.

Car Title Loans

A car title loan is a loan type that uses a form of collateral as a guarantee. For example, you may use your vehicle (car, van, motorbike, etc). But the lender takes possession of your vehicle’s title for the loan period. However, you remain the registered owner, so your car remains in your possession.

It depends on a number of factors. Some of these variables include the following:

  1. The lender you’re applying to for the loan
  2. Your capacity to repay the loan
  3. The state and value of your car

It’s recommended you only borrow the minimum amount of money you require.

Simply fill out the online application to apply for a car title loan. The process is relatively straightforward:

  1. Fill out the application
  2. Receive a quote from one of our specialists
  3. Get approved
  4. Drive off with cash in hand

Numerous documents will be required. However, here are the standard details you must have from the onset of the approval process:

  • Identification
  • Vehicle pictures
  • Car title
  • Verification of your capacity to reimburse the loan
  • References
  • Email, address, employment details, etc
  • Proof of residence

There are a few requirements. However, many of these can be used interchangeably. If you can’t provide one, you can most likely provide another for a car title loan. Some of these requirements include the following:

  1. Bank statements
  2. Disability payments
  3. Proof of income
  4. Social security payments
  5. Other benefits you are entitled to

 If you can’t repay your car title loan, the lender will report the offence. If it’s a first-time missed payment, you may be granted a grace period; as long as you communicate with your lender. But if you miss enough payments, the agency can resort to lawful action and legally seize any assets you are entitled to.

A car title loan is not the only option for your financial troubles. Before choosing a title loan, you may want to consider some alternatives, such as:

  1. Ask friends and family
  2. Get a second job or side gig
  3. Work longer hours at your current job