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When you want to get an auto title loan, there are some things you must take into consideration. The followings are the things you need to know that will help to get answers to your questions. How do title loans work in California?
The major factor that’s needed to qualify for a car title loan is that you must be the owner of the vehicle that will be used as collateral. Whether you have a motorcycle, SUV, truck, RV or car, you can qualify for an auto title loan. Because this type of loan is based on the equity of your vehicle, you’ll be required to own your car outright. If you’re still paying off your car, then the title still belongs to the bank and you won’t be able to make use of it as collateral. Some other basic requirements you need to apply for title loans in California is that you must be at least 18 years old and reside within the state.
Unlike other types of loans, your bad credit should not affect your car title loans application. Car title loans usually do not require credit checks. They are designed for people that have bad credit from missing payments on their record.
To qualify for an auto title loan, you need to have a source of income. If you have low income, it might be hard to qualify, but you won’t be exempted because of it. Also, you must not be a debtor in a bankruptcy case and you must not intend to file for bankruptcy relief.
If you decide to get a title loan, you must be ready to offer your vehicle as collateral. This means that you allow a lender to place a lien on the title of your car and provide the hard copy of your car title in exchange for a loan amount. This is the best way for a later to have an assurance that the loan they offer you will give them some return on investment. Without the title of the car being on the line, it can be hard to find a short-term loan.
Your car’s value is the major factor in knowing how much you can get for a title loan. The title loan company like Car Title Loans California will determine the value of your car by evaluating the condition of your vehicle, its maker, model, age and mileage. The value of your car must not be less than $2000. In California loan amount normally range from $2,500-25,000.
If you’re still asking yourself about how do title loans works in California and you need more information. Give Car Title Loans California Company a call today and get answers to your questions.
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Trading Financial Credit, LLC may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. Trading Financial Credit, LLC does not offer or service student loans. California loans are made or arranged pursuant to a California Financing Law License : 603-8192. Arizona: Loans made pursuant to Arizona Department of Financial Institutions.
*Credit approval is subject to Trading Financial Credit, LLC credit criteria standards. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by applicant. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.
*Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 5PM PST on a business day.
*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.
California Finance Lenders Law License Number: 603-8192
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