With today's lenders having more stringent criteria to qualify for a loan, it can be tough for consumers to get new credit. If you're fortunate enough to be approved, it may not even be enough for what you need or you may incur high fees. Car title loans are the ideal solution.
Car title loans are secured loans where you put up the title of your vehicle as collateral. It's easy to qualify for these types of loan, because the money already paid on the car is used to secure the loan. You can obtain more money on a secured loan versus an unsecured one. Poor credit scores and even a previous bankruptcy doesn't preempt you from obtaining a car title loan, as there are no set regulatory restrictions. Most of the car title loan companies understand that even the most financially conscious person can run into difficult times. An assigned rep at a car title company will review your financial standing. If you have enough income to make the monthly payments, it's likely that you will be approved. There are also no pre-payment penalties, and you get your car title back when the loan is paid.
Applying for a car title loan is easy and fast. Just keep in mind that your car needs to have a substantial wholesale value in order to qualify for a car title loan. These companies have online websites such as ours where you can fill out the application and then speak with a company representative. The application takes less than five minutes, and pre-approval takes under two minutes. The paperwork process, underwriting and money in hand can be as quick as the same day that you apply. Some car title loan companies even have mobile loan professionals who will arrange to meet with you at the office or at home. These reps will inspect the car and fill out the required paperwork. The whole process is streamlined for your convenience. If you're in need of cash, a car title loan is an excellent choice.