Chat with us, powered by LiveChat
Need a Title Loan?
We can Help You!
How Much Cash Can I Get?

Thank You for applying! We will get to you shortly. If you have any questions regarding your application please call 1-888-744-8953.

If you would like you fill out a full application please go ahead and submit your information on our full form (click here)

General Terms and Conditions.


Click here to verify

Apply for Car Title Loans

Title Loans Value of My Car

By Jenny Williee | March 22 2019
Categories: Car Title Loans
220

Your car worth determines your title loan by a large percentage. For this reason, it is very important that you know the best ways to increase your car’s value before proceeding to get your loan.

We at Car Title Loans California work with a wide range of vehicles. When selecting vehicles we can work with, the age or the state of the vehicle does not hinder us from lending money to you. It only determines the sum we will be able to give out to you.

In order words, for your vehicle to get you more money with Car Title California, it should be in good condition with a clean car title. For example, a 2005 made car which has been slightly used and is in great shape will get more money when compared to a 1990 car which has been involved in a number of accidents. At Car Title Loans California, we strive to ensure that for each car you present, we give you a reasonable and fair amount. For this reason, we attend to each case specially.

How Much Can Much Money Can I Get For My Car On a Car Title Loan?

At Car Title Loans California, we carry out an evaluation on any car which comes to us in order to know the value of each car because we present our loans uniquely. There are a number of factors to consider when determining the value of a car. The factors we use in checking the value of a car will be discussed below.

  • Your car equity

A car must have equity in order for it to have a loan value. Without equity, you cannot get a title loan. In order to estimate the equity of your car, subtract the complete amount you owe with your car payments from the dollar amount the car is worth. Equity is important for loans because it shows that your car has more worth than the amount you are yet to pay on it. There are some special cases where we still give loans to people who are still yet to complete the payment of their car, considering the equity on it is sufficient. For cases like these, we complete payment on the existing loan and then add up that paid amount to the loan offer. Despite all of these, it is better if when going for a car title loan, you don’t owe anything on your car payment. With a completely paid off car, you can have very high equity. The higher the equity, the higher your chances of qualifying for the loan and getting a higher loan.

  • The condition of the car

When it comes to our car title loans, each case is addressed differently. The value attached to a car which was made in the same year is the same make and model as your car might not have the exact same value of your car. This is because to determine the value of your car; we look at your car’s condition, the mileage it covers and also the wear and tear. This is the reason that we request you to send us your car pictures.

title loans value of my car

Specific things we look at to determine the condition of your car include:

  1. The state of your car’s interior
  2. The exterior of your car, i.e. are there rusts, scratches or gouges
  3. The condition of the car’s tire
  4. The mileage on the odometer. The lesser the mileage, the more valuable the car is
  5. If the car has been involved in any accidents in the past and how often
  • Trade in value

A car’s value when it comes to getting a loan with car title looks very much like a car’s trade-in value – although it’s not exactly the same. It often is different when compared to an average value. It is also different from the ‘private party value’ or the street value, which is the sum you might get for the car if you sold it off to a person instead of a dealership, a car seller, a professionally used car purchaser or a company. Sometimes we base our offers off the percent of the Kelly Blue Book value, but it varies based on the particular case.

Car Title Loans: How To Prevent Repossession Of Your Car

Just like every other loan with collaterals, a car title loan presents a risk of repossession. In the car title loan industry, your car is the collateral which is used to get the loan. If you fail to pay up the loan in time, your car can be repossessed.

This fear of your vehicle getting repossessed often discourages a lot of people from borrowing. The truth though is that there are a number of ways to prevent your car’s repossession when taking a car title loan. With these steps, you can borrow some money and not lose your car in the process. Here we will give you more information on the repossession risk and give you a guide on how to avoid this when taking a title loan.

The risk of repossession

There are so many questions people ask concerning repossession in car title loans. Everyone wants to know the percentage of people who have ended up losing their cars to this industry.

For this purpose, it will be helpful to know that the majority of people do not face a car repossession after taking out a title loan. Research has shown that only 8% of people who take out car title loans get their cars repossessed while over 90% do not. It is also helpful to point out that car title loans are not as risky as other loans, e.g. home equity loans as it’s certainly better to risk losing a car than losing a home.

Avoiding a repossession

Knowing how to avoid a repossession before proceeding to take a car title loan can make the process more convenient for you. In order to avoid repossession, below are some steps you can take.

  • Find an honest lender

The first step to avoid repossession is to find a lender you can trust. Make sure you carry out internet research on the lenders. You can go to CarTitleLoansCalifornia.com to perform the search. Carrying this research will help you make sure you are working with a company more focused on providing you with a fair car title loan and not on repossessing your car. 

  • Be timely with your installment payment

Ensure you carry out your payments at the right time. Paying up your installments on time will help keep the interest payment low hence giving the lenders no opportunity to repossess your car.

  • Renew your loan

Life is hardly predictable. Despite how prepared you are to efficiently meet your payments, along the line anything can come up and disrupt your plans. If this happens, you can renew your loan. To renew your loan though, you need to pay an extra interest so only consider this if the situation does not call for it. Also, do not take a car title loan if you know the only way you can pay up is by renewing it.

  • Pay ahead of schedule whenever possible

Your major aim should be to pay up your installments at the right time but then when you get the chance to pay it up ahead of time, do so. Paying ahead of time will help you cover the installments on time, therefore preventing your car from repossession. Before paying your installments in advance though, ensure that your lender is fine with it.

  • Take only as much money as you need

Ensure you take out only the amount you are in need of. The fact that you qualify for a loan of $5,000 does not mean you should take all of it if you don’t really need it. For example, if you qualify for a loan of $10,000 but you only need $3000, avoid taking all $10,000 but the $3000 you need.

Bottom Line

Getting a car title loan is a personal decision you make after considering the risks. The risk of your car getting repossessed is quite low, and you can avoid this if you take the right steps. By making use of the guidelines listed above, you can make the most of your car title loan.

Address Your Financial Issues With Car Title Loans

Are you in a financial fix? Have you run out of options and sources to get money? Well, there is one other way, and it is within your car. With your car, you can get a title loan which can help you fix your financial problems.

How it works

Firstly, getting a car title loan is much easier when you have completed the payment on your car. With this, you can deliver your car’s title to the lender and get some money in return.

You can find a number of lenders and auto financing companies who offer loan approvals on the internet. These lenders and companies use the internet to reach out to a large number of clients. Some lenders also design mobile applications which help you see the loan sum you can get for your car’s title.

Car title loans have high-interest rates as they are short term loans. When it comes to car title loans, lenders put your car value into consideration instead of looking at your credit score. Some car lenders also ask for your car’s insurance. The loan sum offer you get can depend on:

  1. The value of your car
  2. Your ability to pay off the loan
  3. And how much you need

The Difference Between Car Title Loans And Auto Pawn Loan

For an auto pawn loan, you will be required to give not only your car title but also your car as collateral for the loan. The car will be kept by the lender as a security for the loan. With an auto pawn loan though, you will get more money as the car, and the title will both be in custody of the lender.

Reasons Why You Should Get a Car Title Loan

In the past, so many people would go to banks for assistance when they find themselves in a financial fix. They would mortgage their properties such as their car and house in order to get some money. In this recent time though, this has changed because of the present state of the economy. Banks and other credit companies are not as available to meet their financial needs anymore.

People with bad credit or financial problems also have a very low chance of getting loans and credit history is now one of the major factors used to determine whether a person would get a loan approved or not. Over time the number of people in need of financial help without good jobs or credit history keep increasing.

In order to bring people of their financial misery, car title loans came into existence. You no longer have to bother about your credit history when seeking a loan. All you need to get the loan is a car. Lending companies ask for your car title as collateral to ensure that you can pay up the loan at the agreed time. Note that with a car title loan, you will not be giving your car to the lender but the title, so you can still make use of the car during the loan period.

The process for taking out a car title loan is also known to be very fast. If you need for money is urgent, then you should definitely go for a car title loan. The loan application will be approved within 1 or 2 days. You can even get it approved in a matter of minutes, getting the money you require in some hours. With this, you can cover your bills and any other financial need in no time.

Car title loans have also provided a fast alternative to financial institutions like credit card companies and banks. With car title loans, as long as you have a car, a loan is easily within your reach.

If you don’t want a lengthy and stressful loan application process, a car title loan is the best way to go. This loan process only includes the submission of a few, simple requirements. These requirements include proof of ownership of the car, a family member reference with names, phone numbers and addresses, a driver’s license for identification, proof of loan repayment and a proof a residency.

Conclusion

Car title loans are important as it can help you get money any time you are in dire need of it. Simply create a plan in advance to ensure you meet up with the installment payment. The moment you have a plan, you can get your loan and avoid a car repossession.