Do you need money for an unexpected expense? Are you unsure how you will be able to pay for an unanticipated bill? Maybe you need to add capital to your small business or need to pay for your tuition. If so, you can get the help you need by unlocking the equity in your car. Taking out a title loan is an ideal solution to meet any of these obligations.
Title Loan Qualifications
To qualify for a title loan, you must be at least 19 years of age and your vehicle must not be older than eight years old. If you don’t own a car, don’t panic because other vehicles that can be used for title loans include trucks, vans, motorcycles and SUVs.
When you take out car title loans in Vancouver, you are never responsible for any hidden or upfront charges, nor do you have to undergo any type of credit check. That’s because your car is your collateral!
No Prepayment Penalties
In addition, you do not need to provide any income or employment information. Lenders of title loans in Vancouver make it easy to secure a loan as they offer flexible payment plans with no prepayment penalties. So, if you have an emergency you need to take care of, all you need to do is to use the equity you have in your car.
Your vehicle needs to be registered in BC in your name and have collision and comprehensive coverage. You will need to have clear title to the vehicle – this means that you own the vehicle outright.