Looking For Pawn Shops That Take Car Titles Near Me?
How Does Car Title Loans Work?
A car title loan is a specific type of secure loan, where you use your vehicle title to secure the loan. What this really means is that you are borrowing against the value of your vehicle. . Therefore, if a lender determines that your vehicle is valued at $15,000, then you’ll receive a loan up to the value of your vehicle.
How Can I Get A Car Title Loans?
You can get a car title loan by applying online here. When you apply you’d immediately see an estimate of the value of your car. To be eligible, you will need to own your vehicle, and the vehicle will need to be 15 years old or newer. The process takes 1 business day in most cases, and you get to keep driving your car.
Why You Should Get A Car Title Loan
1. If you are looking for quick cash. One of the biggest benefits of car title loans is that they are very quick and convenient. The process is easy and fast and can be completed within a few minutes. Once you submit your application, you can receive cash in the same day.
2. If you have bad or low credit. With car title loans, credit doesn’t matter. Car title loans are usually known to be no credit check loans. Becuase the loan is based on your vehicle title, you credit score doesn’t really matter to the lender. Most car title lender provide a loan to peopel whose car is worth a little more than the loan. They may not even ask to see your line of credit.
3. You get to keep driving your car. . The car title is used as collateral in case the borrower cannot pay the loan back, yet once you make your final payments, the title is returned back to you. So you don’t have to worry about getting around when you take out an auto title loan.
5. You want a loan that is cheaper than cash advances. Because auto title loans use your vehicles to secure the loan, they have a layer of protection, so they don’t have to charge as high of an interest rate. Because of this reduced interest rate, they are often less expensive than cash advances