Collateral Loans

Everyday Niagara residents come to Cash Depot for help so that they can pay unforeseen bills such as Car and Home repairs, Emergencies,
Groceries, Gas, Utilities, etc.  Whatever your reason, we have a quick and easy solution for you.   

For smaller and/or shorter term solutions check out our payday loan option.

For larger longer term solutions, or vehicle title loan or our collateral loans might be the best solution.

Collateral Loans are typically done over 12 months, but can be done over as short as 3 to 6 months, or up to 15 to 18 months depending on the amount of the loan and other requirements. *

The process from when you bring in the required information to when you get approved is generally 2 to 3 business days.

To find out if the items you have can be used as collateral, simple give one of our stores a call and they can help you out.  Some things that can sometimes be used as collateral might include, Motorcycles, Scooters, Jewelry, certain household items, etc.    In many cases we may need to hold the collateral but that will be determined during the verification process.

The details of what are required are below:

 Getting a Collateral Loan is as simple as 1-2-3.

Step 1

Gather up the documents you will need to get the vehicle title loan:

• Updated Bank Statement  - Showing Last 2 Months Of Transactions Up To The Current Date
               - When we review the bank statement we need to be able to see 
               your source of income being direct deposited.  We are also looking
               to see if there is a history of NSF Cheques or Stopped Payments, or 
               if there are any dealings with other loan stores.
• Government Issued Photo Identification (ie. Drivers license or other government issued photo ID)
• A recent utility bill  - ie. Cable, Phone, Hydro, Gas, or other utility bill
               - The bill must be current and confirm your current address
• Proof of your phone number  - bring in your home or cell phone bill
• A list of items to use as collateral (speak to an associate first to determine if they can be used) including:
  • Make, Model #, SIN# (where applicable) of the item
  • Date Purchased and original purchase amount
  • Your ownership (where applicable, and upon getting the loan you will need to leave your signed ownership with us
    and will be given a copy for your records)
  • A spare set of keys (where applicable.  This won't be needed until the loan is finalized, but they will need to be left
    and will be tested. Make sure that there is both a key for your door and also for the ignition)
  • A used vehicle package (where applicable.  This will cost you $20.00 and as a result we don't require this until you
    have been approved upon us obtaining a copy of the used vehicle package.)
• A Pre-Authorized Debit Form - You can get through online banking or from the bank

 If you have any questions, or want to have an idea of how much you might qualify for, please call your closest Cash Depot location. Click here for the phone #'s

Step 2

Stop by one of our locations with all of the documents listed above and speak to one of our customer service representatives. We look forward to seeing you and we will get you in and out of our store as quick as possible.   Usually you will need to visit our store once with all of the information above, and then a second time once the loan has been approved.

While you are in though help your self to a cup of coffee on us.

Step 3

Once you have been approved come on in and walk away with your loan amount.*

* OAC.  Ask a customer service representative for details as some conditions may apply.