Posts Tagged ‘car title loans’

Why worry about Cash when you can get approval on Car Title Loans

A car is a magical treasure. If you have one, you can easily use it to cover other expenses. Sounds implausible? It’s a reality with car title loans. This amazing auto financing program provides you ready cash without taking your car away from you. You can fix the home or spend the money on your dream wedding. The lender won’t be concerned about the way of your spending. Sounds great, isn’t it? Well, let’s understand title loans so that you can begin the process of opting it.

Car Title Loans – Benefit of Car and Cash

A title loan is simply a collateral loan. The lender gives you money on the basis of the value of your car. You just need to submit your title to him. Once you pay off the loan, the lender will give you the title after removing lien. It’s better than auto pawn loans which make it compulsory to pawn your vehicle. With these loans, you don’t need to keep your car with the lender.

You can drive it wherever you want, whenever you desire!

Generally, a car title loan is available for a small amount of money and for a shorter period of time. But, don’t worry if you cannot repay the loan at the end of loan period. You can simply roll over the remaining amount into a new loan.

The best thing about it is that the lender won’t ask for your credit score. So, don’t worry if you have bad credit or bankruptcy in past. You can definitely fulfill your immediate financial requirements without taking tension of your credit history.

What is the process of Car Title Loans?

Auto title loans are simple and do not require you to take any painstaking measure. You just need to fill loan application form. Once you meet the simple approval criteria, the lender will ascertain the market value of your car. Most lenders use Kelley Blue Book value and offer loans in the range of 30% to 50% of the car’s worth.

Criteria for getting a Car Title Loan

Although requirements vary from one lender to another, few criteria remain common. If you fulfill the below mentioned requirements, almost any lender will approve your loan application.

1. You shouldn’t owe any amount on the car.
2. The title must be clear when you present it to the lender.
3. The car should not be older than 1999.
4. The car should be driven for less than 150,000 miles.
5. You will have to provide the lender with the copies of Driver’s License and your recent pay stubs. If you are self-employed, monthly statements of last 3 months are required.

When you are approved for the loan, the lender will simply write you check. No credit check, no stressful talks, just quick results, that’s what car title loans offer!

It’s time to keep your car while getting cash for it!

Be the first to comment - What do you think?  Posted by cartitleloans - June 25, 2013 at 10:45 am

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Understand the Working of Car Title Loans

Car title loans can be handy during the times of financial crisis. If you have an emergency need for cash, car title loans are the best way to meet your expenses. However, in this case, the lenders will not lend an amount higher than 50% of the value of the car. It explains the fact that car title loans are highly secured. The borrowers have to pay the entire principal amount plus interest fees in one go. So make sure you will be able to repay this lump sum amount at the end of the period. If you cannot do this, give a second thought before you apply for such a loan. The time period given will not be more than one month in most of the cases.

If the borrower is not able to repay the loan in the stipulated period of time, they can pay a onetime interest fee and roll over the loan amount to the next month. If the borrower fails to do this, the lender will come and take away the car and try to make a sale. Hence, the borrowers have to be very careful while applying for auto title loans.


- Proof of car insurance, license

- You must be a salaried person.

- There should not be any liens against the vehicle.

- You must be the owner of vehicle.

- The VIN details are required at the time of processing loan.

These are just 4 simple requirements which can be processed at ease. People need not be bothered about their credit rating. Car loans offered at such short time intervals do not require credit rate checking. However, the loan is highly secured. The lenders will have a free lending hand when it comes to terms and conditions. A car title loan is treated as a collateral for your personal loans. When you already have an auto loan, things become real hard to process the title loan.

How Does It Work?

After the paper works are completed, the borrower is expected to hand over the car title and a set of keys to the lender. There are absolutely very minimal amount of paper works involved which can be completed in 5 minutes of time. It sounds easy right!! Wait. Just hold on to your breath. The annual interest rates will run in to triple digits. Hence, make sure that you will be in a better position to repay the loan amount promptly. This seems to be ridiculous.

For a $1000 loan, you could end up paying about $250 per month as interest charges. On the other hand, some will decide to do the balloon payment at the end of loan’s tenure. There are certain limits available on the roll over chances. Once when you reach the limit, you have to pay the amount at once or forfeit the car at once. There are many pros and cons involved in this kind of loan. It is up to the borrower to decide with the loan options. It is better to think twice before you leap.

Be the first to comment - What do you think?  Posted by cartitleloans - November 5, 2011 at 7:43 am

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Car Title Loans – How to Get Cash Loan on Title of Your Car?

There is not a single individual who would probably expect an uncertain condition in the near future. However, it happens with many individuals. Many are left with no option but to take loans to meet the emergency requirements. People might even have a bad credit score but that cannot stop them from getting new loans. In this situation car title loans can be savior. There loans also known as auto pawn loan or pink slip loans are offered on the title of your car which can get you quick cash immediately. The good news is that borrowers need not tell the reason to obtain such a loan to the lenders. If you have a car, then all your emergency requirements can be easily dealt with it.

Even an individual with bad credit can secure a car cash loan easily as all that matter is the car title. If you have a free and clear title the entire process is hassle free and loans can be easily obtained in minutes. A single click on the mouse is adequate to get the loans. The online application forms have to be filled in as the first procedure. Once the loan gets processed, the borrowers can avail the loan in less than 24 hours. The lender will usually demand some documents for the completion of the process. The borrowers are requested to have their proof of income and the insurance proof ready. A driver’s license is a mandatory requirement along with a phone bill or any other utility bills. The documents of the car have to be kept ready. The auto financing lenders usually do not demand your vehicle as collateral. However, the documents have to be submitted.

The amount borrowed and the interest rate is highly dependent on the current market value of the vehicle. The borrower should have a valid checking account being a citizen of US. It is important to read the fine print before inking the deal. The borrowers have to be careful about the rate of interest which should not go beyond 3% per month. This amounts to 36% annual interest rate beyond which is tough to repay.

The borrower must be aware of the late payment charges and other fees to be paid while processing the loans. The first job is to make a good amount of research on the internet about the lenders. Pick out the top 3 or 4 lenders from your list. You can then proceed to fill out their online application form. You must make sure that the lenders do not charge for filling out the form and asking for a quote. Upon doing this, you will be contacted by the lenders who will discuss the financial requirements. Make sure that you get the deal that fits your requirements in all ways. Getting a car loan for car title is a good way to meet all the emergency requirements.

Be the first to comment - What do you think?  Posted by rapidcarloans - July 13, 2010 at 6:12 am

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