A Pink Slip Loan or Cash Advance against the certificate of title for your car is an easy way to get quick cash without hassle when you need it. At Car Title Loans California, we try to help you get through tough situations and emergencies by providing you with the financial prowess you need.
The option of a car title loan covers you in situations where your friends and family may be unable to help you out of tough financial situations and you don’t have the ability to secure a loan or financial help for other kinds of financial institutions.
Although car title loans are not the conventional or traditional financial solution, they are a reliable and stable option when you find yourself in a financial fix. This solution is known by different names. It is also called the cash advance pink slip after the different names for your car title. Some other names for this financial solution include vehicle collateral loan or alternatively, auto title loans.
The idea behind this type of loan is being able to secure cash using your pink slip also known as your car’s certificate of title. This is the legal document that shows you are the rightful owner of the car and gives you the authority to use it in a transaction. A car title loan is a financial risk we at Car Title Loans California are willing to take on your car, giving you a cash advance equal to the value of your car in equity while allowing you continue driving your car and pay back in a schedule that suits you.
So, let’s go into the detail of how these types of loans work – pink slip loans also called car title or auto title loans can help you get quick cash when you find yourself in an immediate financial emergency without the hardship of other financial institutions.
It seems so simple that the question of how always comes up.
Once you are the rightful owner of an eligible car, you will be able to benefit from the speed and ease of securing a car title loan. It does not even require you to have a great credit history or status before you can enjoy its numerous benefits.
In the face of emergencies, speed, efficiency and ease of procedure is expedient and that is something most financial institutions cannot offer when it comes to loans. Although your friends and family might be willing to give you the help you need, the truth is that no one prepares for such emergencies such that they have a huge wad of cash hanging around to help out with.
That’s where we come in. With our speedy and efficient process, we can give you a cash advance against your car title loan on the same day you apply so long as all the necessary information are provided and can be easily provided. It gives you not only access to the money but also lets you keep using your car while you try to pay out your loan as soon as is possible and following the agreed schedule.
Processing a cash advance goes anywhere from a few hours to 3 days but this is mostly dependent on you, the available documentation and how speedily the information is provided and can be verified.
Our approval process is super easy, efficient and convenient allowing you get your cash on the same day as your application once the required documents have been provided and you are on hand to give any necessary or outstanding documents.
These required documents may be referred to as stipulations – they give us the right information needed to make a decision. They show us exactly what your car is worth, that it meets the requirements.
The really great thing about this type of loan is that you really don’t need to have the best credit score, status or history. Of course, there are different requirements for the different lenders but for most car title loans, the main basis for securing the loan is the value of your car.
The risk in the loan is mostly determined by what the lender would get for the car in the event that you are unable to pay for the loan. So, although lenders might go ahead to check your credit, it is not a major requirement or determinant for securing the loan.
An important principle to understand is that the more value the lender can get for the car, the less of a financial risk it is to grant you a car title loan and so you will find that many will be willing to give you this based on your car’s value.
We at Car Title Loans California can give you a loan even if you have zero or poor credit where the other important factors are fully met. Your vehicle is the collateral for the loan and it gives both you and the lender all the security you need as you make this financial transaction. A lender would be willing to invest in you once your car’s value is high.
To be specific, you can qualify for a car title loan with a credit score of 500 and above. Just make sure you have a tight application with all the other necessary qualifying requirements met.
There are number of factors to consider when assessing what kind of car would qualify for this kind of loan and this includes the make, mileage and year of manufacture of your car. According to California state law, the lowest possible loan amount is $2500 and so, you need a car that when assessed will have up to this. You can find out just how much your car would be worth by filling out the form on our site where you can also chat with a representative.
There are a few exceptional cases where it is possible to qualify for what is called a low vehicle value loan or program but this is the exception and not the rule.
An important factor is the mileage on your car which must be less than 200,000 miles. It is, of course, assumed that you own the car and have the certificate of title to prove this. You should also be able to prove that the mileage falls within the expected boundaries or it would not qualify for a cash advance pink slip loan.
The other requirement apart from actually owning and possessing the title is making sure that it is a clean title. You will also need to provide and demonstrate what kind of make your car is and what year and model it is.
These are the most important requirements or factors in determining if your car can help you secure the much needed quick and efficient cash advance pink slip. To be sure, fill out the form on our site and we will let you know if your car qualifies and you can make an application that will thereafter be treated speedily and efficiently.
Of course, income is a huge factor in being able to secure this kind of loan as you need to demonstrate when taking it out that you can pay for it. You don’t just have to state your monthly income but also show verifiable proof which could be in form of pay stubs, unemployment or other benefits, canceled checks, or any other generally acceptable way to prove that you have relatively stable and regular income coming in each month. This will also help determine what kind of schedule you are on for repaying your loan and put you in the right category so you don’t end up defaulting on a loan and losing your car when it could be avoided. The least accepted amount of income for this kind of loan is $1,200. You need to show that you have a steady and stable way of making money either through a functional business or other forms of self-employment or being employed in a firm or company. The important thing is not what kind of occupation you have as it is demonstrating that you have the potential long-term capacity to pay back the loan from the very beginning.
It should not be mistaken. If you default on paying back this loan, you will likely lose your car so make sure that you fully understand what it means and what the requirements and parameters are. While this aims to be a simple and efficient process, it is no less severe than any other financial transaction with different kinds of financial institution and should be taken as such.
Another important factor is references and recommendations and being able to find people who can speak to your integrity and character to give the lender the assurance that you will pay back the loan. After all, it is one thing to demonstrate the capacity to do so and quite another to be the kind of person who would.
When you provide the requested information about your car, and yourself, they will be checked against a database to make sure that everything is real and it is really you trying to take out a cash advance against your car title.
Something that is also checked is the odometer on your car to ensure that it has not been tampered with or modified in any way. This proves that the mileage is exactly as it reads and what you say it is.
You might also be asked to share pictures of your car. This is to demonstrate that there is nothing wrong with it that can affect its worth or value and make it more of a financial risk then is obvious.
It is one thing for the car not to be damaged at the time you take out the loan but this does not stop it from ever getting damaged. To take out a loan like this, you would need full insurance that covers any future damage. This helps make us even more confident in lending you the money you need as there isn’t more of a financial risk.
As a lender against your car title, that’s a huge financial investment and interest in you that you must do your best to prove is worth it and won’t become a problem. While we want to help you, the onus is on you to make this possible for us.
The final note here is that this kind of loan is best as a short-term emergency financial solution and not a long-term or go to for every problem. To make the best of it, get a payment plan you can tie up quickly to prevent paying too much in interest. The interest rate can be fairly high since it is a huge risk, speedy and comes with less assurance and paperwork. You even don’t have to establish a good credit status. So, going short term is best.
You can check out our website, call our toll-free line 1-844-242-7467 or chat with us on the website depending on whichever one is most convenient for you. Do not forget that you can also fill out a web form on the site to instantly check out how much your car would qualify for. The only details you would need to give are your first and last name, contact details to help us reach you which are location, phone number and email and the important details of your car which are the year, make or model and the mileage it has on it.
It’s so simple that you wonder why most people don’t know about it or use it!