What Credit Score Do I Need To Get Approved For A Car Title Loan?

While applying for any type of loan, one of the most troubling moments is when you are denied a loan for not having a stable credit score. This happens for almost all traditional loans, in addition to having to wait for weeks to be approved for a loan. So, it puts you in a very dicey situation when you have been putting your stakes on the loan and have to return empty handed. This is one of the most prominent reasons why car title loans are so popular these days. These require only the least of formalities and you can get approved for a loan within 24 hours. But what about the credit score requirement? Here is a brief.

What Is A Car Title Loan?

When you keep the title of your car as collateral for getting a cash loan, such a loan is called an auto title loan. You can borrow such a loan from a private lender like us, Canadian Equity Loans, that specializes in such car loans. The process of getting a pawn loan is easy. You just have to fill in a short application form, get your documents and vehicle inspected and if all the things are good, you will be approved for the loan within 24 hours itself. It is one of the fastest loans and it also is very accessible and easy to get.



Do I Need A Stable Credit Score For Getting A Car Title Loan?

One of the prime features of a car title loan is that it does not require a stable credit score. The reason behind this being, the value of the car whose title you are using backs your loan and not your individual credit score. So, even if you have a poor credit score, you are eligible for getting a loan as long as your car has positive equity. This saves you from having troubles while getting a loan. Infact, there are no credit checks conducted for an auto title loan, which makes it approachable to all. So, you don’t have to worry about this requirement.

Does Getting Such A Loan Affect My Credit Score?

Unlike many other loans, getting a car pawn loan does not directly have any effect on your credit score, as accepted in the Canadian state. However, it can help you improve your credit score indirectly. Since you can use the loan for any purpose, you can pay off your monthly bills and installment obligations using the money you receive on this loan. It will help you improve your credit score in the long run.

Canadian Equity Loans

We here at Canadian Equity Loans help you get through your financial troubles without hassles through our easy to get car title loan. We offer such a loan at convenient terms and conditions and you can also decide your own repayment schedule. All you have to do is visit our website and fill out the application form. You can also get in touch with us at (toll-free) 18445866311.


Location: 5R4Q6WC8+3X

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