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What Are Car Title Loans?
A car title loan is a type of secure loan, which you use your vehicle title to back a loan. In the case of a car title loan, you will borrow against the value of your car and you get to keep driving your car. This means if a lender determines that your car is worth $20,000, then you will be able to get a loan for $20,000 and keep driving your car
How Can I Get A Car Title Loans?
You can get a car title loan by applying online here. You’ll be able to see an estimate of the worth of you car and how much money you’d qualify to get. Car title loans are really good for people who have less than desirable credit scores. There are no pre-approvals and these loans are processed in 1 business day.
5 Benefits To Having A Car Title Loan
1. Quick Cash, Easy Process One of the large benefits of auto title loans is that they are very quick and convenient. The process is easy and quick and can be completed within ten minutes. Once you submit the form, you can receive the cash within the same day!
2. Credit Doesn’t Matter Auto title loans are known as no credit check loans. They are based off of collateral (your vehicle) so it makes it much easier to secure one even if you don’t have good credit. Most lenders provide auto title loans to people who own a car that is worth more than the loan and have a source of income. They may not even ask to see your line of credit.
3. If You Have A Vehicle You Can Qualify Whether you have a car, motorcycle, RV, SUV or truck, you can qualify for an auto title loan. These loans are not based on your credit. They are based on collateral by using your vehicle’s title. So if you have a vehicle, as well as a steady income, it is possible to get this loan.
4. You Can Still Use Your Car if you get a car title loan, you can still drive 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. Cheaper Than Cash Advances Because auto title loans use your vehicles as collateral, 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.