Top Reasons to Opt For Car Title Loans Nanaimo

An auto collateral loan is a loan you may opt for whenever you find yourself in need of money for financial emergencies. There are a lot of advantages to getting a loan using your vehicle as security. This loan is also known as auto collateral loan. Instant Loans Canada car title loans are quick and hassle free. These loans can be used to look after your cash needs like tuition fees, medical bills, divorce settlements, overdue credit card bills etc. If you are looking for urgent cash help, Car Title Loans Nanaimo is the answer. 

Why You Should Apply For a Car Title Loan?

• Same Day Cash 

Once we verify all your documents and inspect your vehicle; we approve your loan request immediately and disburse the funds on the spot. Now it’s up to you how you want it, as cash, or through e-transfer or bank transfer. 

• No Proof of Income Needed

Generally, banks and other lenders ask for proof of income in order to approve the loan request. This gives them the assurance that the borrower is capable of repaying the money. But all this is not needed by us since the loan is backed by the clear title papers of the car. 

• Keep Your Car

When you go for a vehicle collateral loan there’s no need to surrender your vehicle. You can simply keep driving it while you pay the monthly installments as well.

• No Prepayment Penalties

Just in case you want to close the loan before the maturity of the loan tenure, you can do since our loans are open ended. You can make an early payout and there’ll be no prepayment penalty for it.   

• Borrow Up To $35,000 

Through our Car Title Loans Nanaimo, you can borrow up to $35,000 against your fully paid for car or truck or any other vehicle. The loan amount depends on the present market value of the vehicle. There are other factors too like the year, make and model of the car which help determine the amount you can obtain as loan. You can easily manage the loan through flexible monthly installments spread over 4 years.

Documents and Other Requirements

Unlike banks, we keep the paperwork minimal, as this helps to fasten the loan process. We don't let the customer go through hefty documentation. Below are the basic documents you need to submit, that too just for verification. 

• A fully paid for vehicle (no older than 10 years).
• A lien-free vehicle title 
• Proof of permanent residence (a piece of computer-generated mail)
• Vehicle registration papers in your name
• Vehicle insurance papers in your name (collision and comprehensive)
• A valid Canadian driver’s license
• A second set of keys to your vehicle
• Proof of legal age as per your province

Learn more about Car Title Loans Nanaimo by calling (Toll-free) 1-866-973-5214 or apply online.