What is Automobile Title Loan?

Automobile title loans, also known as pink slip loans, is a lending facility that provides instant cash to borrowers who meet certain criteria. Automobile title loans are safe, fast and secure. A borrower only needs to present a clear title of his vehicle with a net value of no less than $4,000 to qualify for an auto equity loan. Automobile title loans would also require your valid driver’s license, proof of stable employment and residence and your car’s full insurance coverage.

Automobile title loans are also very convenient because you could apply online and present your documents through fax or email. With pink slip loans, you do not need to wait for days or months to get an approval. In fact, if you have all your documents in order, you could get your approval for an automobile title loan in as short as one hour.Upon approval, your auto equity loan is released to you within the day.

Payment scheme for automobile title loans is also borrower-friendly. You could choose to pay up to three years or prepayment with no penalties. That is why pink slip loans are preferred by borrowers who are faced with emergency expenses.

Automobile title loans do not do strict credit checking. This means that even if you have a history of tax liens, bad credit and have been denied many times by other lending facilities, you could still be approved for a pink slip loan.

Title loans staff could also help you out in resolving DMV issues such as payment of parking tickets, securing insurance for your vehicle and other concerns for you to be able to comply with state regulations.

Unlike pawnshop collateral loans, you get to keep your car with automobile title loans and the pink slip or the car title serves as the loan collateral.

And unlike bank loans, you don’t have to wait for a long time to get approved or to get your cash because pink slip loans could give you the funds that you need within 24 hours.

And because automobile title loans undergo oversight and auditing by the Department of Corporations, you could be sure that it is safe and secure and that all information pertaining to the borrower are held in strict confidentiality.

That is why, more and more people in need of immediate cash go to automobile title loans to solve their cash problems quick and easy.