About lender
Sometimes creditworthiness problems make it difficult to obtain financing on reasonable terms and interest rates. Expensive but accessible cash is tempting as an easy solution but can lead to more problems than your initial situation.
Instant Loans Canada was created to provide a good solution for such cases. With Car Title Loans, you can get between $1,000 and $35,000 for up to 5 years to solve your financial problem and keep driving your car.
The loan amount depends on the wholesale value of the car. Using a car as collateral reduces the lender's risk and allows customers better credit terms.
Features
Instant Loans Canada is a reputable lending institution that can help you solve your financial problems and offers you a much more extended repayment than other rapid loan providers. In addition, the lender promises fast decision-making so that you can get cash within an hour. The loan amount is based on the value of your car that is acting as collateral.
The lender has a straightforward evaluation process to approve a fair loan amount.
Pros and Cons
If you intend to relieve yourself financially, it pays to get details about your potential lender and the loan terms. If your situation is as urgent as a headache, it is even more important than you think and makes the right decision instead of rushing to get money.
Instant Loans Canada has several positive aspects for potential borrowers.
Pros
the company has a good reputation in the financial services market;
the possible loan amount you can borrow from the lender is up to $35,000, and the repayment period is up to 5 years;
different methods of loan application (online application, phone call);
possibility to receive cash within 1 hour;
transparent information about fees and loan terms;
the company claims to offer comparatively low-interest rates;
even if the lender provides title loans, you can continue to drive your car; from this point of view, nothing changes for you if you repay the loan on time;
no job requirements;
no credit check;
multiple office locations across Canada;
ability to repay early with no penalties;
minimal paperwork;
the lender arranges for an expert to evaluate the car;
the most important factors considered in deciding the potential loan amount are not your credit history but the year, condition, mileage, and model of your vehicle;
сontact options are available around the clock, Monday through Sunday. So if you need money, the lender is there for you.
Instant Loans Canada has a number of advantages as a lender, but some things could be considered disadvantages. Therefore, we suggest you consider the following list before applying for a loan.
Cons
you must be the owner of the vehicle and repay it in total if you bought it with a car loan;
vehicles older than eight years are not accepted by lenders for title loans;
you must purchase two types of insurance for your car: collision and fully comprehensive. It is not described in detail, but probably both insurances must be in place throughout the loan period until full repayment;
the interest and the total cost of the loan are not made clear, and you must ask them directly to the lender;
it is not entirely clear how you should repay the loan to the lender, whether in cash, by direct debit, or in another way agreed by Instant Loans Canada.
there is no credit calculator on the lender's website;
it is not clear whether the lender works with debt collectors and can sell bad debts to third parties;
