Loan FAQ

Loan FAQ

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.
  • Vehicle
  • Driver’s License
  • Original Ownership (and articles of incorporation if vehicle in company’s name)
  • Insurance
  • Pay stub (if applicable)
  • Utility bill (anyone’s name – must have address on it and be current dated)
  • Void cheque (or pre-authorized payment form)
  • Spare key

If you live in the GTA, for your first loan you must come to our office to sign the loan documents. For the second and subsequent loans there are cases where we will allow you to sign the loan documents and transmit by fax or scan and email. For those living in areas far from Toronto, but in Ontario, there are cases where we will grant a loan without you having to come to our office. These are done on an individual case by case basis. Please call us on our toll free number, 1-877-346-2274, to see if this applies to your situation.

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

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.

When you have been approved, an appointment time will be set up for you to come in at a time that is convenient for you. Our office hours are Monday to Friday, 9:00am to 5:00pm. Earlier and later hours can be arranged to suit your needs. Once you are at our office it can take as little as 30 minutes for you to get the money.

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.

Fast Action Finance is one of the longest established Title Loan companies serving the GTA and south west Ontario. We do more than just Title Loans. We also provide Collateral Loans, Motorcycle Storage Loans, and Repair Loans to customers who need and deserve a second chance. We are an entrepreneurial company and will work with you to get you the help that you need.

Fast Action Finance believes that everybody deserves a second chance. Whether you are in a bankruptcy or consumers proposal we lend against the equity in your vehicle.

Yes, we lend to those undischarged from bankruptcy. If you went bankrupt yesterday we can even lend to you today.

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.

You can get this type of loan with any vehicle that belongs to you, is a 2009 or newer model year (some exceptions apply), has no more than 200,000 KMs, is not seriously damaged, is currently plated, is registered in Ontario and is fully insured.

Using your vehicle as collateral you can borrow up to 50% of the Black Book rough value to a maximum of $5,000.

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.

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 or gives you written permission to pledge the vehicle as collateral. The “vehicle portion” of the registration determines whose name the vehicle is registered to.

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.

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 up to $25,000 for a term no longer than 4 months. 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 for details.

A Repair Loan is where we lend you money to repair your vehicle. Unlike a Title Loan, the vehicle MAY 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.

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 at our office in a 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.

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.

A Vehicle Purchase Loan is where we finance your purchase of a vehicle. The purchase can be from a private seller, a dealer or from us. We lend up to 50% of the Black Book rough value to a maximum of $5,000.

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.

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.

Yes, a co-signer will help you get a loan if you do not have a vehicle to use for a Title Loan. The co-signor must meet the criteria for a Title Loan.

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