How Pink Slip loans work?

A pink slip loan, also known as an auto title loan is a way for you to get cash in hurry. You can unlock the equity in a vehicle be it a car, suv or truck. True Financial is able to help you obtain a pink slip loan quickly and easily online..

How to Apply

This form of financing is often much quicker and easier than going to your bank. To apply to borrow for an auto pink slip loan you will need;

  • Title to your vehicle
  • Proof of income
  • ID or other information about yourself to show who you are such as a rent statement.

    The value of your vehicle is an important factor in how much you will be approved for. Why is this? Well the vehicle is used as collateral for the loan and, if approved, you will be lent a proportion of the value of the vehicles wholesale price or book value. This is typically 50-100% of the value. Loans are able to be arranged completely online with no inspection required.

    Why get a pink slip auto loan?

    Read up to educate yourself on how car title loans work. Not all lenders are the same, each often have their own criteria on who they lend to and how. Some title loan lendersoperate completely online where others require you to visit them at their shop with your pink slip in hand. True Financial is available and able to help with pink slip and equity loans on older vehicles, vintage cars, older trucks and high milage vehicles. The process can be completed the same day as many of our customers are looking for cash in a hurry.

    same day auto title loans

    We can conduct our loans completely online which can be a more convenient option if you are at work or its late at night. Or you can call us 24 hours a day 7 days a week.

    Pink Slip Loans Near Me for Bad Credit

    If you’re considering taking out a car collateral loan, or a car title loan, you’re probably thinking most about the possible risks involved with this type of high-interest secured loan. If you could, you might even consider taking out a less risky unsecured personal loan. Considering the fact that you are considering a car collateral loan, however, probably means that you don’t have good enough of a credit score to get approved for more traditional unsecured loans. Find a location nearby and come visit one of our locations.

    Having bad credit is a frustrating situation to find yourself in. Not only does it make it substantially more difficult to secure loans, credit cards, mortgages, new leases, and more, but not being able to borrow money in those traditional ways makes it harder for you to actually ever improve your credit score.

    Luckily, car collateral loans can be a useful source of funds. So what are car collateral loans, and how can they you improve your credit score? Continue reading to find out.

    Pinkslip Loans

    The basics of a car collateral or a pink slip loan are really quite simple. A pink slip loan is where the loan is secured against the title. If you have an older vehicle see more here about title loans for cars older than 10 years. In order to lake out a loan against your car, you need to have equity in your car. While some lenders do allow you to borrow on a car that you are still paying off, it is not the norm. The reason why it is called a car collateral loan or pink slip is because if you are unable to pay back your loan within the agreed upon payment term, the ownership of your car (via the cars pink slip) will transfer over from you to your lender.

    Once the value of your car has been established, the lender will decide how much they are willing to lend you. Car title loans typically range between $100 and $5,500. They can, however, go much high and depending on your car, you could qualify for a loan up to $50,000 depending on the lender and your state.

    The amount you can borrow is based on the equity that you have in your car and the value of that car, but you should not expect to get a loan that is equal to the actual worth of your car. Lenders want to make sure that they will be able to recoup their losses in the event that you default on your loan, so they will lend you only what they can quickly and easily get in many states including title loans in California in the event that you default on your loan. The vast majority of lenders will offer you a loan equal to the trade-in-value of your car, which is typically between 25 percent and 50 percent of your car’s actual value.

    Now that we know how they work, let’s go over what you need.

    What you’ll need to get car collateral loan.

    This depends slightly on which lending company you end up going with, but overall car collateral lenders are quite flexible when it comes to necessary documents. Overall, you can expect to be asked to provide this information:

    • You must be at least 18 years old.
    • You must be able to provide a government issued ID.
    • There must be no liens on the vehicle you are borrowing against.
    • You must own the vehicle outright.
    • You must have the original title or the pink slip of the vehicle in your hand, or if you have lost your pinks slip you can get a title loan still.
    • No Credit Check is needed. Read more here.

    If you think this information sounds like it should be very easy to provide, you’d be right. Car collateral loans are known to be quite easy to get, which is what makes them so popular, and also what makes them so dangerous.

    How car collateral loans impact your bad credit.

    If one of the primary reasons why you are considering taking out a car collateral loan is because you are looking for a real way to have a positive impact on your bad credit score, there are a few things to look out for.

    First of all, the reason why car collateral loans are a good option for people with bad credit is because most lenders don’t even looker at your credit score. They’re primary concern before they offer you a loan is to find out how much your car is worth hand how able you are to pay your loan back within the repayment term. In a way, car collateral lenders are more concerned with your financial present than your financial past.

    But how can car collateral loans impact your financial future? It’s actually super simple. If you are taking out a car collateral loan to improve your bad credit, just make sure that the lender you are borrowing from reports to the major credit report bureaus. If they do report to the major credit report bureaus, and you responsibly borrow and pay back your car collateral loan, you may see an improvement in your credit score depending if your lender reports credit or not. See more here about car title loans with no job.

    Things to Consider

    If you are considering taking out a online car pink slip loan, you are most likely trying to decide whether or not you want to borrower from an in-store lender, or borrow from an online lender. In the end, both types of lenders operate exactly the same in almost every way. There are some factors to consider, however, before you decide which option works best for you.

    If you are looking for ease, the easy answer is to certainly go with an online lender is certainly the way to go. You can search for a slew of companies, find which companies work best for you, apply, share your documents, see the value of your loan, and complete the transaction all from the comfort of your own home! With online loans, you can expect to have your loan transferred to the account of your choosing within 24 hours.

    It is also important to keep in mind that just because you are borrowing from an online lender does not mean they will be hard to reach. Many online lenders have extended hours and are available to reach seven days a week. While it can feel odd to borrow from an online lender, some of the most respectable lenders in the industry work exclusively online. They are definitely a good option to consider for an online pink slip loan for all types of borrowers.

    Now, if you are looking for the fastest loan that you can receive, you may want to consider heading to a brick and mortar establishment. While you can get the cash from an online title loan within 24 hours, you can typically expect to get your cash in hand from an in-store lender within an hour. That makes it probably one of the fastest amount of times that you can get qualify for a loan in the entire industry.

    Pink Slip Loan Refinances Made Easy & Online

    One other thing to consider when it comes to the differences between online pink sip loan lenders and in-store title lenders is that with online lenders, your lender will evaluate the value of your car based off of images. With in-store lenders, your lender will typically want to evaluate your car in person. Depending on the car, you may prefer one way or the other for your pink slip loan. Read more about refinances and companies that buy out title loans.

    In the end, a car title loan can be a great way to help you make ends meet, cover the costs of a medical emergency, or complete a large payment that you need to make for you family or business. Whether you choose to borrow from an online lender or an in-store lender is far less important than whether or not you feel you are ready for the responsibilities that come with a car title loan. Never forget that the money isn’t free. If you want to make your title loan work for you, rather than the other way around, make sure that you are keeping tabs on your expenses and make sure that you will be able to pay off your loan within the payment term you agree to.


    • A steady job or monthly income of $1500 or more.
    • Personal or professional references help establish who you are so you can be identified.
    • Any proof of other loans you have had and the repayment history on those loans. Such information will go a long way to showing to a lender that you are a good fit for a car title loan.

    True Financial has title loan shops available near your area in California and other states that can provide you with the money you need today. All you need is to fill in the application form to begin the process. Good Luck!