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Can I get a Title Loan? What is Required to be approved

Of course, you can get a title loan. A car title loan is basically a secured type of loan where borrowers can use their vehicle title as collateral.

The lender automatically places a lien on your car and the hardcopy of the vehicle title is submitted in exchange for the loan.

The lien is removed when you repay the loan and the car title is returned to you.

The process of getting a car title loan in California or any other state is pretty simple. That is, anyone can apply for a loan without so much effort if faced with financial difficulties. How easy? Very easy.

 

Breakdown

 

  1. Own a lien-free vehicle in your name.

 

  1. ii. A regular income source/proof of employment (some lenders can let you have a loan without this.

 

iii.              Be 18years and above and prove this with a government-issued identity card.

 

Meet these requirements and you can easily apply either in person at the title loan office or online with your preferred lender. Your vehicle is inspected and valued.

Now, more may be required depending on the amount of loan you may be borrowing.

Some lenders may request to see an official proof of residency in some cases.

Just as elsewhere, the first step in getting a title loan in California is simply to apply once you meet the stated requirements.

You will be asked by your loan agent to verify the information presented in the application form by providing supporting documents.

The agent guides you through this while answering any question you may have about the loan. This is done to determine how qualified you are for the said loan and ensure your records match all stated information.

After signing the car title loan agreement, your loan is made available and this usually ranges from $2,500 to $50,000 depending greatly on your vehicle value and your ability to repay the loan on time each month amid some other factors.

After you get your required fund, you can continue using your vehicle as long as you make the required monthly payments and follow outlined terms and conditions of the agreement.

Like every other loan agreement, interest rates apply.

In summary, if you are sure of not defaulting on the loan repayment, then auto title loans are likely your best bet for getting easily processed loans as they are some of the most legitimate, easy and fast means of getting funds real quick in emergency situations. The approval rates are unbelievably fast, at least when compared to other credit sources. With auto title loans, it is possible to walk out with the money just within minutes of application and verifications. What could be better?

 

Key Benefits

  • Same Day Cash
  • Quick Approval
  • All Credit Accepted
  • Keep Driving Your Vehicle
  • Competitive Rates