Frequently Asked Questions

Below are answers to the most Frequently Asked Questions (FAQ). If you do not find an answer to your question please contact us and one of our loan professionals will be happy to help you.

Do I have to come in to get the loan, can I do it by fax or email?

In many cases there is no need for you to come to our office to get a loan. The whole process can be done electronically through an eLoan. When we approve your application for a loan you must send us the items listed below. We will then need ten minutes go over the application with you, send you the loan documents by email or by fax to sign and once we get them back will either email the money to you or deposit into your bank account. This is a very quick and secure process and if we get the necessary items this can always be done very quickly.

Below is a list of exactly what we need emailed to us at info@fastaction.ca. Simply take pictures of your vehicle and of the required documents with your smart phone and email to us.

Call 1-877-346-2274 or 416-239-2906 for further explanation.

1. Your driver’s license
2. Any TWO (2) of the following pieces of identification

SIN Card
Birth Certificate
Passport
Health Card
Permanent Resident Card
Citizenship Card
Fire Arms Acquisition Card
Any Other Acceptable Government Issued ID

3. Ownership (front & back)
4. Insurance
5. Pay stub (if applicable)
6. Utility bill (anyone’s name – must have address and a current date)
7. Void cheque or pre-authorized payment form
8.EIGHT (8) pictures of vehicle as shown below

Left Side
Right Side
Front
Back (ensure license plate can be read, no need for close up of plate)
Odometer showing KMs. (Ensure not showing trip meter)
Front Interior
Back Interior
Door VIN

If I do come in to your office, what do I need to bring with me to get a Title Loan?

Vehicle
Driver’s License
Original Ownership (and articles of incorporation if vehicle in company’s name)
Insurance
Pay stub (if applicable)
Proof of address (Utility bill or any official mail with address and current date)
Void cheque (or pre-authorized payment form)
Spare key (if available)

How much can I borrow using my vehicle?

Using your vehicle as collateral you can borrow up to 50% of the Black Book rough value to $25,000.

How do I apply for a loan?

You can apply online or call one of our loan professionals at 416-239-2906 or 1-877-346-2274 who will help you with the application process.

Once I have been approved how long does it take me to get the money?

When you have been approved you can either send us the required documents and pictures electronically or make an appointment to come to our office at a time that is convenient for you. Either way you can get the money in an hour if all goes well.

How quickly will I get the loan?

If we have received all the required information and you meet our criteria you can receive the loan on the same day that we receive your application.

Can I use my vehicle as collateral in a Title Loan if it has a lien against it?

The quick answer is no, however, there are limited cases where we can. Please also see the section on Repair Loans, where we can lend for certain repairs to your vehicle even if it is leased or financed.

Will a co-signer help me get a loan?

Yes, a co-signer will help you get a loan if you do not have a vehicle to use for a Title Loan, however, the co-signor must own a vehicle that they will use that meets the criteria for a Title Loan. Also, your co-signor can help you get loan if they have other collateral to use as security.

What if the vehicle is in my company’s name?

We can still give a Title Loan using a vehicle registered in your company’s name if you own the company and you can prove it.

My credit is bad, if I apply can I get a loan?

Fast Action Finance believes that everybody deserves a second chance. Whether you have bad credit, are in a bankruptcy or consumer’s proposal we will still lend against the equity in your vehicle or asset.

What is a Vehicle Title Loan?

A Vehicle Title Loan is a loan using a debt free vehicle as collateral. The vehicle must be paid in full (no money owed on it) and cannot be leased.

How long can I expect to wait for a reply to my online application?

We will contact you on the same day you send in your application provided that we receive it during normal business hours. After hours and weekend applications will be responded to on the first business day following the application. We will contact you on the phone numbers and/or email address that you provide in your application.

What type of vehicle qualifies to be used for a Title Loan?

A vehicle acceptable to use as collateral for a Title Loan must be debt free (no money owed on it), not be leased, be nine years old or newer and have less than 200,000 KMs. There are some exceptions to this so please call if unsure.

What if the vehicle is not in my name?

If the vehicle is not in your name we can still lend if the person whom the vehicle is registered to co-signs the loan with you. If the vehicle is in your name and another person’s we can still lend if that person gives you written permission to pledge the vehicle as collateral. The “vehicle portion” of the registration determines whose name the vehicle is registered to.

Do I qualify if I am undischarged from bankruptcy?

Yes, we lend to those undischarged from bankruptcy and in a consumer’s proposal. Even if you went bankrupt yesterday, we can even lend to you today, provided you have a debt free vehicle or other asset with value.

What if I am currently in a Consumers Proposal?

Yes, we lend to those in a Consumers Proposal if they have a vehicle that would qualify for a Title Loan.

What is a Motorcycle Storage Loan?

Motorcycle Storage Loans are loans where the borrower stores their paid in full Motorcycle, Snowmobile or Watercraft with us for the term of the loan. The motorcycle, etc. must be valued at an amount higher than the amount being borrowed. The motorcycle, etc. will be stored in our very secure warehouse. We also lend against any classic cars or portable machinery that can be left in our warehouse during the term of the loan. We invite any potential customer to come and inspect our storage facility beforehand. For peace of mind we allow borrowers to visit and inspect their motorcycle, etc. at any reasonable time while it is in our possession. We do not do credit checks and lend no matter what your current financial or employment status is. The whole process takes less than 1/2 hour and you leave with the cash in your hand.

How do I get a Motorcycle Storage Loan?

Call us at 416-239-2906 or 1-877-346-2274 or complete the application form here: https://www.fastaction.ca/loans-storage

You will need to visit our Toronto office and when you visit you must bring your motorcycle (or snowmobile or watercraft), ownership, and drivers license.

If you need to have it transported to us we can arrange it and put the cost of transportation on the loan.

Can I borrow by storing something other than a motorcycle?

Yes, we also accept Snowmobiles, Watercraft, Classic Cars, and Portable Machinery that can be stored in our warehouse for collateral during the term of the loan. If you are unsure about your collateral please call to inquire. We invite any potential customer to come and inspect our storage facility beforehand. For peace of mind we allow borrowers to visit and inspect their collateral at any reasonable time while it is in our possession.

What is a Collateral Loan?

A Collateral Loan is when an asset is pledged to secure money lent to you. We would hold the asset during the term of the loan. We lend $25,000 plus for a term of 4 months or longer. We accept hard collateral ranging from motorcycles to classic cars to machinery. We also lend against an irrevocable pay order from your lawyer if you have sold your house and there is a firm closing date. Call us at 416-239-2906 or 1-877-346-2274 for details.

How do I get a Collateral Loan?

Call us during business hours at either 1-877-346-2274 or 416-239-2906, or complete the application form here: https://www.fastaction.ca/loans-collateral Be prepared to provide details of your asset and how much you think it is worth. We will need to speak first and if approved you will need to visit us at our Toronto office.

What is a Repair Loan?

A Repair Loan is where we lend you money to repair your vehicle. Unlike a Title Loan, the vehicle CAN be leased or financed. The repairs must be towards necessities of the vehicle. We cannot finance repairs that are for customization of the vehicle nor the purchase of accessories such as audio equipment, stylized rims, aftermarket exhausts, trick engine modifications, etc. The repairs must be done by a licensed repair shop and we pay this repair shop directly for the repairs.

How do I get a Repair Loan?

Call us at 416-239-2906 or 1-877-346-2274 or complete the application form here: https://www.fastaction.ca/loans-repair/ Be prepared to provide details of the estimated costs of the repairs, who is doing the repairs, and if you owe money on the vehicle how much is owed and to who – for example if your vehicle is leased or financed what is the amount owing and what bank or finance company is the loan with.

What is a Vehicle Purchase Loan?

A Vehicle Purchase Loan is where we finance your purchase of a vehicle. The purchase can be from a private seller or dealer. We lend up to 50% of the Black Book rough value to a maximum of $10,000.

If I apply online will my personal information be kept private and secure?

We have a secure system that offers the highest level of encryption, confidentiality and security. In addition we do not sell or give any information to outside sources.

What are Referral Fees?

Referral Fees are what we pay to customers, brokers or anyone who sends us a referral that results in a loan. We protect broker’s commissions and pay quickly for all successful leads.

What are your office hours?

Our office hours are Monday to Friday, 9:00am to 5:00pm. Earlier and later hours can be arranged upon request.

Tell me about Fast Action Finance, who are you?

Fast Action Finance, started in 1997, is one of the longest established Title Loan companies serving Ontario with the highest loan approval rate in the industry. We do more than just Title Loans, we also provide Collateral Loans, Motorcycle Storage Loans, and Repair Loans to customers who either need the funds very quickly or are not acceptable to the traditional lenders. For Title Loans the whole loan process is very quick, and the customer will typically walk out of our office within 30 minutes with cash in hand. If you live outside the GTA, or are unable to come to our office, then you can complete the whole loan process from the comfort of your own home/work through email or fax. All you have to do is take pictures of your vehicle and the basic documents, such as your driver’s license, insurance, ownership, etc. and send them to us. A smart phone (iPhone, Android, Blackberry, etc.) can be used to take pictures of the documents. Loans done electronically can typically be completed within the hour. No credit checks are performed as we lend against the equity in your vehicle or asset. Therefore, it does not matter if you are in bankruptcy, a consumer proposal or credit counseling, you can still be eligible for a loan. Also, there are no job requirements to be approved for a loan from us. Whether you have bad credit, no credit, are unemployed, on benefits or retired, give us a call or fill out our no obligation online application and we will do our best to see how we can help you. We consider ourselves a very entrepreneurial loan company and look at lending from a different angle than other lenders and try our best to give you the loan that you need. We have been in Southern Etobicoke for over 23 years and have helped many consumers get loans that they could not get from other lending sources.

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Thank you for contacting Fast Action Finance.