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How Much Can You Get From a Title Loan in 2024?

Almost 85 percent of Canadians own or lease a vehicle. However, most Canadians barely use their cars.

The good news is that you can put the care to use and secure funds when you need them. This is where a vehicle title loan comes in. If you’re in need of immediate cash and own a vehicle outright, a title loan could be a great solution.

Are you asking yourself, “How much can you get from a title loan?” Read on to learn more about the world of title loans, exploring the types available in the Greater Toronto Area.

How Vehicle Title Loans Work

Vehicle title loans, also known as auto title loans or simply title loans, are loans where the owner puts up their vehicle title as collateral.

Unlike traditional bank loans, title loans often offer a quicker application process with less strict criteria.

Types of Title Loans

In the GTA and surrounding areas, borrowers have access to various types of title loans tailored to their specific needs.

Are you wondering what they are?

Standard Title Loan Options

This is the most common type of title loan, where borrowers use their car, truck, or other vehicles as collateral to get a loan amount. The loan amount is usually based on the appraised value of the vehicle.

High-Value Vehicle Title Loans

For individuals with high-value vehicles, such as luxury cars or rare collectibles, specialized lenders may offer title loans with higher loan amounts to match the vehicle’s value.

Commercial Vehicle Title Loans

Business owners and anyone else with commercial vehicles may opt for commercial vehicle title loans. They can use their trucks, vans, or other commercial vehicles as collateral.

Motorcycle Title Loans

Motorcycle owners can also leverage their vehicles to secure title loans, providing them with a convenient borrowing option, especially if they require a smaller loan amount. Loans are also made against the equity in snowmoibles and watercraft. For motorcycles, snowmobiles and watercraft, they must be storeed with Fast Action Finance during the term of the loan.

How Much Can You Get From a Title Loan?

When considering taking on a loan in the GTA in 2024, it’s essential to explore your options and choose a respectable lender that offers positive terms.

Take a look at some key factors before applying for a loan.

Title Loan Amount

The exact amount you would receive from a title loan in 2024 depends on the appraised value of your vehicle. Lenders tend to offer loan amounts ranging from 25 percent to 50 percent of the vehicle’s appraised value. Amounts decrese for customers in remote areas and with older vehicles.

Some high-value vehicle title loans can reach into the tens of thousands.

Interest Rates and Repayment Terms

Borrowers can expect competitive rates and flexible repayment options from reputable title loan providers in the GTA.

Still, it’s essential to look over the terms of the loan agreement before moving forward.

Application Process

Title loan lenders in 2024 have streamlined the application process, making it quick and hassle-free for borrowers. Many lenders offer online applications, allowing borrowers to apply from their homes and receive approval within minutes.

Customer Service and Support

Choosing a lender with excellent customer service and support can make the borrowing experience smoother and more convenient. Look for lenders who focus on customer satisfaction.

Why Fast Action Finance Is the Best Solution

When it comes to getting a title loan in the Greater Toronto Area, Fast Action Finance stands out as the premier choice for borrowers.

Are you wondering why?

Generous Loan Amounts

With Fast Action Finance, borrowers can access loan amounts of up to $25,000, providing ample funds to address various financial needs. No matter why you need money, Fast Action Finance has you covered.

Retain Ownership and Use of Your Vehicle

One of the most significant advantages of choosing Fast Action Finance is that you retain ownership and the ability to drive your vehicle throughout the loan term.

Unlike some lenders who require the surrender of vehicle keys or installation of GPS tracking devices, Fast Action Finance ensures you maintain full control of your vehicle.

Flexible Approval Criteria

Fast Action Finance understands that financial challenges can arise, leading to less-than-perfect credit scores. That’s why they offer title loans with bad credit.

Regardless of your precise credit history, you can almost always qualify for a title loan with Fast Action Finance.

Speedy Approval Process

Time is of the essence when you’re in need of urgent financial assistance. Fast Action Finance excels in providing same-day approval and instant cash disbursement, ensuring that you receive the funds you need when you need them most.

Say goodbye to lengthy waiting periods and hello to immediate relief with Fast Action Finance.

Transparent and Fair Terms

Unlike lenders that impose upfront fees or hidden charges, Fast Action Finance prides itself on transparency and fairness.

There are no upfront fees with Fast Action Finance, allowing you to borrow with confidence, knowing that you won’t face unexpected costs along the way.

Established Reputation and Experience

With over 26 years of serving Ontario residents, Fast Action Finance has earned a stellar reputation for reliability, integrity, and exceptional customer service.

Borrowers can trust Fast Action Finance’s extensive experience and track record of delivering top-notch financial solutions.

Competitive Interest Rates

Fast Action Finance offers some of the best interest rates in the industry, ensuring that borrowers receive favourable terms and affordable repayment options.

With competitive rates, you can borrow without worrying about exorbitant interest charges.

High Approval Rate

Fast Action Finance boasts the highest approval rates for loans in the GTA, providing peace of mind to borrowers who may have faced rejection from other lenders.

Whether you’re a first-time borrower or have experienced difficulties securing a loan elsewhere, Fast Action Finance welcomes you with open arms.

It’s Time to Get the Title Loan You Deserve

Has someone asked you, “How much can you get from a title loan?” Now that you’ve learned about how title loans work, you can get the money you need with as little hassle as possible.

That’s where Fast Action Finance comes in. We’ve been in business since the late 90s and are proud to offer several types of loans, including title loans and collateral loans.

Apply now and get same-day approval. If you have any questions, don’t wait to touch base with a Fast Action Finance team member.