Did you know it’s possible to use your car’s value as collateral to receive a loan? Car Title Loans are becoming more popular, especially because they allow consumers to take out a loan against a vehicle’s current value, so long as the person has proof of ownership. It’s a way to get the cash you need while keeping your car.
For several reasons, title loans are available for consumers in financial trouble who might not qualify for other loans. Knowing there are ways to avoid losing your vehicle due to a loan default is good. Canadian Equity Loans can help you get the cash you need while keeping your vehicle. We understand that you might have financial needs currently, leaving you without enough money to live on.
What Can You Use Car Title Loans Money For?
1. Paying for Medical Bills
Car Title Loans are great for medical emergencies because they can be paid off in a few months or up to 6 years. After being approved, the loan amount is deposited directly into your bank account, so you can use it to pay off your medical bills. It also gives you extra time to create more money to repay your loan.
2. Paying Bills on Time
Another great use for a car title loan is paying bills on time. If you’ve been struggling to pay your bills and are about to lose power or water, a title loan may be your solution. It lets you pay your bill before being disconnected, and you can also use the cash to pay other piled-up loans or bills.
3. Emergency Car Repairs
Car title loans in Vancouver are great for repairs because you don’t have to worry about losing your car. They’re also convenient because they’re usually deposited directly into your bank account, so you can keep driving while the repair is done.
4. Paying off Debts with a Title Loan
Do you have any outstanding debts that have been difficult to pay regularly? A title loan can be used to pay them off. It allows you to use your vehicle title as collateral to eliminate some of your debt in one payment. Even better, getting approved without a credit check is easy– it only takes a few minutes to fill in the online application.
5. Getting Your Car Repaired
Using the funds from a title loan to repair your car is another great way to use the money. You can get repairs like a new transmission, brakes, or engine replacement. These repairs don’t have to be expensive; they can help you avoid having your car towed if you run into mechanical problems.
6. Paying off Credit Cards
If your credit cards are coming up short in payments, Car Title Loans may be the solution you need to start paying them off. It’s easy to apply for a loan, and you can have the money deposited directly into your bank account so you can pay the credit card.
7. Paying Rent
If you have a strict budget and can’t afford to pay your Rent in the short term, a title loan might be the ticket to getting it done. It’s good because it allows you to get all your Rent paid up and keep your vehicle. Plus, you know an emergency fund is available if anything happens, and you’ll have a little extra coverage.
8. Paying off Student Loans
Do you have a student loan that you can’t pay off? A title loan might be the answer to that problem. You can use a title loan to pay off your student loans, and you won’t have to worry about losing your car or home. Car Title Loans in British Columbia are great for emergencies, like paying medical bills or repairing an old car falling apart.
These are some of the most popular uses for car title loans. You can use your vehicle title as collateral to get approved, and you’ll have the funds to pay for your situation. These loans can help in an emergency but are also convenient if you need extra cash.
We at Canadian Equity Loans can provide you with $100,000 depending on your vehicle’s condition and current market value. Please fill out the application on our website, and one of our professional representatives will contact you about the loan process. To speak with us, call today at our toll-free number: tel:1-844-586-6311.