How Does A Specialized Car Equity Loan Work?

Getting financial help can become a little difficult when a lot of unexpected expenses line up. No one wants a stressful life, we all want to live a good life and provide the best for our family. It’s not easy for all, sometimes such situations arise where one is in need of instant cash. It could be anything like an overdue credit card bill, a huge medical bill, piled up utility bills, a divorce settlement, or even a simple home repair. A shortage of funds at any point in life can lead to disheartening events. To get over such scenarios a specialized car equity loan can be of great help. You can easily get this loan from Approve Loan Now. We ensure a hassle-free loan experience to our clients that too without any credit checks.

What Is A Car Equity Loan and How Does It Work?

An auto equity loan lets you borrow money against the title papers of your vehicle by using them as collateral. Depending on the make, model, and kilometres of your car you can borrow up to $50,000 from us. A lien is placed on your vehicle only for the duration of the loan term. We also temporarily keep the title papers with us too. But that’s the only thing that you need to surrender because you get to keep your vehicle and continue to drive it for the duration of the loan term. The equity value in your vehicle is considered when calculating the loan value.

This loan comes with many benefits. We want the best for our clients, and keeping this in mind, we’ve made our loan process easy. Not only is it quick but also comes with multiple benefits.
No Credit Check
Since you are using your vehicle as collateral to get the loan amount, you don’t need to worry about your credit score. This type of loan helps you borrow money even with a bad credit score. We don’t check your credit score to qualify you for the loan. So even if your credit is below 574 points we’ll still provide you a loan to help you during your tough time.
Get Your Loan Quickly
Approve Loan Now helps you to get instant cash in the easiest possible way. Unlike banks, we don’t bother you with unnecessary paperwork. Minimal documentation means quick processing time and even quicker loan disbursal.
Keep Your Car
Don’t worry about losing your vehicle because you get to keep it during the loan term. You can stay stress-free as long as you keep making your monthly payments. We know the importance of a vehicle in today’s life, that is why we don’t take or store your vehicle. We simply just keep the title papers of your car for the duration of your loan term.
No Employment Details Needed
If you are in between jobs, we will still approve a specialized car equity loan request for you. You can still apply for a collateral loan even when you are looking for a job since your employment is not a factor for approving the loan request.

There are many benefits that our auto collateral loan can offer. We provide longer loan terms that make it easy for you to pay monthly installments. As compared to other lending institutions, our interest rates are low. Our monthly loan payments are also pocket friendly too. Approve Loan Now focuses on providing cash instantly on the same day so that you can deal with your money issues immediately.

What Is Required To Get Approved For An Auto Title Loan?

Here are the following requirements to get your auto title loan:

  • A vehicle that is no older than ten years
  • A clear title to your vehicle
  • The vehicle must be registered and insured in your name
  • A valid Canadian driver’s license
  • Proof of permanent residency
  • The second set of keys to your car
  • A proof of your legal age as per your province

5 Simple Steps to Help you Get Approved Quickly With Us:

Fill out an online application form by visiting our website or call us (toll-free) at 1.844.452.4125.

  • Get a rough quote based on your vehicle details.
  • Submit the required documents for verification.
  • Get your cash after the vehicle inspection.
  • Keep your vehicle and drive away with your loan money.

Apply online today and get your vehicle evaluated. Call (toll-free) 1.844.452.4125 now.