Auto title loans
If you need to get a title loan this has become a popular way for people who need to get some fast money, as long as you have a vehicle that has enough equity in it, you will be able to get the money that you need.
There are plenty of choices that are out there, but it is important for you to choose a company that is licensed to do title loans in your state.
Title loans are expensive, but some companies are more expensive than others, so make sure that you shop around for the best terms and the best rates.
Choose a company that has been established, and that is in compliance with the CFPB, so you know you can trust them.
Auto title loans
The equity value that you have in your car, is what will determine how much money you can get, make sure you find a title loan that has longer terms, you ideally want a title loan to have a term of at least 24 months, with no prepayment penalties.
If you need to get some fast cash using the equity that you have in your vehicle is an excellent way to get it, some title loan companies will offer same-day funding.
There are many title loan options, so it is important to choose wisely, it can be very easy for you to get a title loan, but if you get the wrong one, it can be difficult to get out of, and it can be very expensive.
There are plenty of car title loan companies all over, but again choose wisely because it is easy to get into a title loan, but if you choose the wrong company it can be difficult to get out of it.
When you are searching for your title loan choose a company that wants to make sure that you can afford the monthly payments, and will look at your monthly income to decide how much money you can qualify for.
Title loan process
Choose the best title loan
The process is very similar between most title loan companies, they will all have the same basic requirements, they will all need to know the year, make, and the model of your vehicle, they will need to know that you have enough equity in it and that it is free and clear.
You will need to provide proof of income, you want to get a title loan that you can afford, so the company will want to make sure that you can make the monthly payments.
Providing your proof of residence will help you to get approved, they will want to know that you have an established residence. They will also need to see your driver’s license.
No credit check title loans
No credit check title loans are available, but not every company will offer them, so if you need that you will need to look around.
With no credit check title loan, your vehicle is your credit, so your bad credit will not stand in your way of getting the money that you need.
With all title loans the most important qualifying factor is the equity that you have in your vehicle, as long as you have a vehicle with the required equity in it, you will be able to get the money that it qualifies for.
If you have great credit, but no equity in your vehicle, the companies will not be able to help you, so credit is not a qualifying factor.
Fast title loans
Getting your money once you have been approved is fast, most companies will fund you within one day, that is why title loans are very popular, as you can get the money that you need when you need it.
You can get same-day funding with some companies, so if that is what you need, make sure that you ask them if they provide same-day funding.
With the equity of your vehicle, and a few basic documents such as a title in your name, your proof of income, a utility bill in your name, going to your home address, detailed photos of your vehicle, all sides of the outside, and the interior too. You will also need to take photos of the VIN number and the odometer reading, with 5 personal references.
These are the basic requirements that all title loan companies will require, some may ask for a couple of different minor things, but as long as you can provide the above, you will be fine.
How much money can you get?
Your title loan amount will be determined by the equity that you have in your car, the company will use the NADAto look at the wholesale value of your vehicle, and then lend you a portion of the wholesale value.
Title loans can start as low as $200 and go up to $25,000, but the average amount is under $2000. So it will depend on the equity that you have in your car.
Choose the right car title loan company
Choosing the right company will make all the difference to you, if you choose the wrong company it can be expensive and difficult to get out of, but choosing the right company that is licensed in your state, and has positive reviews online, can make getting and paying for a title loan a good experience.
Choose the company that will get you the money that you need, at the lowest possible interest rate. Make sure that they have no prepayment penalties, so you can pay them off any time you want to.
Make sure that the terms that they are offering work for you, make sure that the monthly payments will fit into your monthly budget, and that they have a good online reputation.
Shop around, to make sure that you feel comfortable with the lender, and that you are comfortable with the terms, remember not all title loan companies are the same, so make sure you choose the right one for you.