How It Works
We are not a bank, which means we are not held down by legislative regulations. Everyone is welcome here, even if you have bad credit or no credit at all. Our goal is to help title owners like you get the cash you need when you need it. We pride ourselves on getting you cash fast.
Our financing methods are secured through the value of your vehicle, not by your credit history. This means, if you fully own any car, truck, motorcycle, boat, Semi, trailer and you have a clean title, we can give you cash within minutes!
You can borrow any amount between $500 and $5,000. The principal we loan is determined by the wholesale value of the vehicle. A few factors related to your vehicle that we take into consideration while estimating the loan amount that you are eligible to obtain from us are: the year, make, model, mileage, and condition of the vehicle you are looking to put up as collateral. Anyone who needs cash and has a car can approach us or get in touch with us at Sterling Title Loans for our services.
At Sterling Title Loans, we work from 9:30 am to 6 pm from Mondays to Thursdays and 10 am to 5 pm on Fridays. We are closed on all weekends and holidays.
All you need is:
There are no prepayment fees for early repayment of the loan.
- Failure to pay by the payment due date will result in having your vehicle brought to our storage lot. In which case you will have 21 days to pay your loan in full including principle, interest, recovery fees and storage fees to redeem your vehicle after which it will be forfeited for monies owed.
- We follow the guidelines set by Personal Property Securities Act (PPSA) British Columbia.
If you would like to know more about the process and the rates / fees, please contact one of our representatives and we will gladly take the time to explain everything.
The success of Sterling Title Loans rests in the ability of our staff to understand, empathize, and deal with each client's unique situation. We train our staff to treat every client, regardless of how they may treat us, with respect. We understand, and we want our staff to understand, that there are many reasons beyond our control that can lead to financial hardship. It could happen to any one of us, and it is not our job to judge, but rather to offer an emergency solution to what is hopefully a temporary financial problem.
The title loan business may be duplicated by others but the moment a potential client enters one of our stores, they can immediately see what differentiates us from our competitors. Our staff doesn't sit in a cage or behind a glass wall. Our decor isn't cold like a bank or dark like a pawn shop. Our clients are greeted with a smile and invited to sit on a leather couch at a coffee table in our "living room" complete with hardwood floors, deep coloured walls, and artwork.
Most clients are nervous about borrowing money from us. They've been to other places like pay day loan companies and been declined, yelled at, threatened, or treated with disdain. That will never happen with us. Our first order of business is to make them feel comfortable so that they can clearly understand what we are offering. We explain that we are meant as a short term solution and that they should never borrow:
1) More than what they need.
2) More than they can reasonably pay back.
- We clearly explain what their obligations are and the consequences of being in default.
Even still, we know that many clients will be late, they will make excuses, they will lie and, in some cases, borrow money with no intention of paying us back. Even still, everyone is treated with respect, and if they will cooperate with us, we will work with them to find a way for them to repay their debt. For us, repossessing someone's vehicle is a last resort, and we only do so if all other attempts at collection have failed. Often, after repossessing a vehicle, the client comes in, apologizes, pays out their loan, reclaims their vehicle, thanks us for treating them fairly, and then comes back later to borrow again.
We are positioning ourselves as offering them a helping hand when no one else will. We have found that taking a few extra minutes to listen to their problems, give them a chance to vent without judgement, and treat them with respect throughout is what has contributed to the unexpected demand for our services.
A title loan is like a pawn. You are using your vehicle title as your guarantee that you will pay the money you borrow. Unlike an item that you may take to a pawn shop the titled property is registered with a government registrar in your name so you can prove that you have the right to take a loan against it.
You can borrow up to 50% of the wholesale value of your vehicle. This site can give you an idea of what we will lend, www.vmrintl.com. We understand that your vehicle is precious to you but ultimately we lend on what it is worth to us.
USUALLY. If you have acceptable insurance coverage and adequate address verification. Come in and see us for further details.
Yes, we will loan against any type of vehicle that has a registered title but we retain the vehicle until the loan is paid off. The reason we do this is that motorcycles and boats are more easily damaged or destroyed, much easier to hide, can be used without being insured and can be sold to unsuspecting third parties who rarely check for liens on these types of used vehicles.
A lien is like a mortgage. It is a claim against the vehicle that is registered with the government registry. A lien is always paid first by insurance companies in the event that the vehicle is stolen or destroyed. Any prudent buyer will check for a lien against a vehicle before they buy it, which will be paid first with the balance of the sale price going to the owner.
You will forfeit your vehicle. Sterling Title Loans will work with you to make sure this does not happen. As long as you keep in contact with us we can usually work out a solution for you. If you don't call in, don't answer our calls and generally avoid dealing with your debt we have no other choice but to recover your vehicle. This is a very unpleasant experience for you and the fees incurred will be added to your existing debt.
If you are having difficulty paying off your loan, the vehicle may be stored with us for a (reasonable amount) time to “press pause” on late fees until you are able to get caught up.Remember if you don't pay your loan you have promised to give us your vehicle to cover the debt, if we have to recover it you will lose your vehicle and any equity you had in it. We recommend that you always work with us if you are unable to live up to your end of the deal.
Yes. You will receive notice informing you that you have 21 days from the date the vehicle was recovered to pay off your loan and all the associated recovery fees, storage charges and interest. Remember it is always best to avoid having your vehicle recovered in the first place. We will work with you if you work with us.