Tips To Get a Car Collateral Loan in Canada

car collateral loans canada


There comes a time in everyone’s life when savings are not enough and it can be quite difficult to obtain funds for the financial needs. Many people cannot handle such unexpected financial emergencies in their lives. 

Canada Car Cash is here to help you by offering a secure and reliable vehicle title loan where the lien-free title of your car is used as collateral. This way you can get the cash you need without losing anything. These loans are also known as vehicle equity loans or car collateral loans. 

You can borrow up to $30,000 with us depending on the equity value of your car. The equity value is calculated based on the market value and the working condition of your vehicle. You can easily get a Car Collateral Loan in Canada by following these easy steps. 

3 Easy Steps to Get Approval for Car Collateral Loans in Canada

We understand your situation and thus, our loan process is simple, streamlined, and convenient. Here are a few steps:

Step 1: Apply for the loan

You can apply for getting a loan in three simple ways:

  • You can call us (toll-free) 1-844-598-7631 and one of our loan agents will brief you about the details that need to be known and will help you throughout the process.
  • You can visit our office nearest to your location and apply there.
  • You can apply online by filling out the application form within the comfort of your home. This form will not ask you deeply personal questions, it only asks for your name, contact number, make and model, the year of purchase, and your email address. 

Step 2: Documentation & Inspection

In this step, you’ll have to submit a few documents and bring your car to our office nearby your home. This is so that the equity value will be calculated. Remember you will be eligible to get the loan if the vehicle you own is not older than ten years. Required documents are:
  • A lien-free vehicle in your name.
  • Proof of your legal age as per your respected province.
  • A valid Canadian driver’s license.
  • Car registration and insurance should be in your name.
  • You must provide proof of permanent residency.
  • The second set of keys to your vehicle. 
Step 3: Get the money you need

Once the paperwork is over and after inspection, you get the approval within minutes. Then you can collect the money you need and take your vehicle and enjoy. 

Thus, the entire process of getting a car collateral loan in Canada is fast and easy. If you are in need and are interested to get the loan, you can apply online or call us (toll-free) 1-844-598-7631.

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