How Can I Get Financed With No Credit History?

There are times when you find yourself stuck and in a situation where you find yourself helpless because of your credit history. It plays a vital role when it comes to getting a loan from banks and other money lending institutions. There are people who do not have a credit history and want some financial help. In such cases, it becomes difficult for the creditors to lend the loans as they do not have a background and terms on which they can decide if they should lend the loan or not.

Well, there are several loans that you can get even without a credit score. Secured loans like car title loans and others where one needs to keep assets or property as collateral are accessible without a credit score. You must be wondering how is that possible and how can one get this loan with no credit history. Let us have a look at the same. 

How to get a loan with no credit history

When you have no credit history then it becomes hard for the lender to judge you and decide if they should lend you the loan or not. Well, with secured loans the creditor feels secured lending you the loan in return for keeping the asset or property as collateral with them. Let us have a look at how you can apply for this loan i.e. a secured loan. 

Steps to apply for car title loans

1. You will be required to fill an online application form available on the website in order to get the loan. Make sure that you fill the application form appropriately in order to get approval for the loan. 

2. After filling the online application form you will be required to submit a list of documents. The list of documents is minimal and includes the following.

• A lien-free vehicle.

• The second set of keys to your car.

• The title of your car.

• The vehicle should not be older than ten years.

• Registration and insurance of the vehicle under your name.

• Proof of your permanent residency in Canada.

• Proof of your legal age according to your province.

• A valid Canadian driving license.

These are the documents that you will be required to present in order to get this loan i.e. a secured loan. 

3. After submitting the list of documents, you will receive a call from our experts to decide the loan amount and approve the loan for you. The amount of loan will depend on the condition of the vehicle and also the market value of the vehicle will be kept in mind. 

Thus, these are the steps that you will have to follow in order to get a loan with no credit history. Well, there are several reasons why people opt for this loan when they are looking for the options to get financial help. Let us have a look at the reasons for the same. 

Why do people opt for car title loans?

This option is considered suitable for several reasons. Let us have a look at each reason.

1. You do not require to have a credit score in order to get this loan. This is one of the foremost reasons why people opt for this loan. Your credit score will have nothing to do with the loan and thus even if you do not have a credit history you can apply for the loan and get approved for the same easily. Your credit score or history will have nothing to do with the loan.

2. The loan has low interest rates. Our interest rates are something that attracts our customers back to us no matter what. With the low-interest rates, it becomes easier for the lender to pay back the loan amount with ease while meeting the financial emergency. 

3. The loan tenure period is up to four years which gives the lender enough time to collect the funds for the loan and pay back the loan amount. 

4. The borrower gets to keep the collateral with himself for the loan tenure period. Thus, he can meet the financial expenses with ease and also meet his day-to-day routine with the asset. 

These are the various reasons why people opt for this loan instead of any other kind of loan when they have no credit history. Not only you will get financial help with the help of this loan but also you will have enough time to collect the funds for the loan and pay back the loan amount with ease. 

Thus, if you are certain about getting financial help when you do not have a credit history then you can consider getting car title loans grande prairie from Car Title Loans Canada. For more information, you can call at toll-free 1-877-804-2742 and clear all your doubts and queries with us.