Auto Title Loan Shops Near You
Thursday 13th August, 2015
An auto title loan is an easy and fast way for some people who own a car or motorcycle and have a lien-free and clean title to get money fast. For the loan, the vehicle is collateral to get the cash needed. It could be a truck, suv or car that can be used as security to obtain the loan. Auto Title loan companies such as True Financial help customers with refinances of title loans too. We accept all credit types so those with bad credit are eligible for title loans too. If you own a car, you qualify for a title loan with our California title loan company.
With a title loan, a lender such as True Financial issues car title loans for a small amount of money over either a short period or for a longer period of time. The borrowers will obtain car title loans when they give the title of their vehicle (can obtain from your state’s DMV) as collateral for the loan. The borrower will agree to pay a specific fee for the loan. Once the title loan is paid in full, the title is returned to the vehicle owner. A benefit of these loans is that they can be paid out at any time.
Applying for a title loan is easy whether online or by calling True Financial. The lender will require a few documents such as a photo ID, the title of the vehicle, an application and other information. Most lenders will allow for a loan of up to 60% of the wholesale value of the vehicle. Once the title loan is approved, the loan applicant will receive the cash and will retain the use of their vehicle during the duration of the loan. Once the loan balance is paid back, the title is returned. It’s that simple!
Fast Approval for Auto Title Loans Near Me
True Financial offers all types of credit and can approve someone for a title loan with or without good credit. Often applicants are looking for a loan the same day, which is where we can help connect you with an auto title loan shop near me. Those without credit at all can even apply. Applicants must be 18 years of age, have a car or motorcycle that is paid off (or almost paid off), a lien-free title, a government-issued ID and proper documentation. The loan applicant must be listed as the legal owner of the vehicle in order to be eligible for the title loan.
True Financial doesn’t require you to be currently employed, but you must show some type of income whether retirement income, unemployment or disability to be eligible. We offer a fast, flexible, secure and easy way to obtain cash via an auto title loan. In order to be eligible, you must have a valid Driver’s License, proof of income, proof of residency, personal references, proof of automobile insurance and a copy of the title and registration to the vehicle that is being used as collateral for the title loan.
There is a $15 late fee for payments and other fees if you fall behind. However we aim to work with you to get you back on your feet. We do not charge a processing fee for any payments made on the phone or online as we want you to pay on time and in a convenient way. You do not need a bank account to get approved. If you are self-employed, we may ask to see your bank statement, that’s it.
The minimum for a title loan in California is $2,510, and we have funded loans in excess of $20,000. We are proudly serving California and other surrounding areas. Find out today what your options are to obtain cash in a hurry. Call our experienced team today to begin your title loan process at 877-572-8783 (TRUE).
Are Car Title Loans a Good Idea?
If you are in a financial jam and do not have the credit score to qualify for a traditional personal loan, you may be wondering what your options are. As you may already know, one option for people no matter their credit score is a car title loan, as long as you own your car and have a lien-free title. But what are car title loans, and are they a good idea? Keep reading to find out.
Basically, a car title loan is just like any secured loan, which means that the value of your loan is tied to the value of something you are using as collateral. In this case, it is the value of your car. To get a car title loan, you have to apply either online or in person at a store, offer proof of your car, your title, your income, and several other documents in order to qualify. It is very quick and very easy. In fact, many applicants can get their loan approved and have their cash in hand within an hour of applying. Once you take out your loan, you will have a set amount of time – known as a payment term – to pay back your loan and all the other costs that come with it such as your interest rate and any addition fees.
Car title loans can either be a real financial blessing, or a real financial burden. It all depends on you.
Here are some questions to ask yourself if you are wondering whether or not a car title loan is a good idea.
- What will I use my loan for? If you have come across an unexpected financial emergency, such as a medical emergency, and you have no other way to make necessary payments, a car title loan could be a good way to help ease the burden. Similarly, if you run a small business and have an opportunity to make one large payment on something that will reap financial benefits down the line, a car title loan could help you make that purchase. If, on the other hand, you are considering a car title loan just to make some indulgent purchases that you want, but do not need, you should probably look elsewhere for the money.
- Will you be able to afford the interest rates? This is a question you should ask when you are considering taking out any kind of loan. Interest loans can get really expensive, especially if you have trouble paying on time. Take a look at your finances, and take a look at the interest rates offered to you to get a better idea of whether or not you will actually be able to pay off your loan.
- Can you survive without your car? Because car title loans are secured loans borrowed against the value of your car, that means that if you default on your loan, you run the risk of getting your car repossessed. In fact, approximately 20 percent of people who take out car title loans end up getting their cars repossessed. So, before you take out a loan, you have to weigh the ultimate risk. If you know that you simply could not survive without your car, you probably want to hold off on taking out a car title loan.