Title Loans Requirements- What Do You Need to Get Approved For a Loan

Unexpected costs arise up all of a sudden in our life. But when they do, Loan Center Canada is here to assist you by providing secure, comfortable, and reliable title loans. If you’re not familiar about what a title loan is or what is required to apply, you’ll get all the knowledge about title loans and the application procedure in this article.

What is a title loan?

Before starting into title loan requirements, you might be questioning what a title loan is and how it varies from other types of loans. A title loan is a loan provided to you in exchange for the title of your vehicle. Unlike a traditional bank loan, applying for title loans is a simple and secure method that can take as little as 30 minutes.

Because title loans are different from other bank loans, they typically have few requirements.

What do you require to apply?

Before applying for a title loan, you’ll need the following items:

• Valid Canadian driver’s permit
• Vehicle title in your name
• Proof of vehicle insurance
• Proof of residence

Valid driver’s permit

A valid driver’s permit is needed to confirm your identity. In addition, the form of identification must match the name on the title of the vehicle in order to approve the loan.

Vehicle title in your name

Because the title loan is being assigned to you, your vehicle’s title must be in your name and clear (lien-free). A lien-free title means that you have full ownership of the vehicle—it’s totally paid off with no exceptional balances or loans against it. Showing that your vehicle is lien-free is necessary because the amount of cash you get from the loan depends on the estimation of your vehicle at the time of application.

Proof of Vehicle Insurance

At Loan Center Canada, they don’t solely rely on your credit records. You should have complete vehicle insurance in order to get the loan.

Proof of residence

For vehicle title loans, you should provide proof that you’re a current resident and have been an ongoing resident of Canada for the past two years. This is also used to check your identity.

So, Call “Loan Center Canada” now (toll-free) 1(844) 604-4143 and get your title loan today!