Posts Tagged ‘lender’

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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Bad Credit Auto Loans – Go From Rejection to Instant Approval

The economy is facing the worst crises since 1930. Unemployment is close to 10%. People have no money to make payments. This is taking a toll on their credit scores and availing loans is getting very difficult.

But, a car is an absolute necessity. The distance between home and offices is constantly increasing and so is the congestion in public transport. You just cannot work without a car.

Are you finding it tough to avail car loans because of a bad credit score?

Well, you are not the only soul suffering from this problem. Almost every American is going through the same crisis and fighting the very same battle. There are quite a few who have been able to tackle it effectively.

All that matters is how you approach the problem. It’s time to take the bull by its horns. Here are few tips to deal with bad credit score. Follow them and you will soon be driving your very own car.

Determine Your Affordability

Have an idea of future, so you can spend your present accordingly.

Buying a car is a major investment. There are many things in addition to the cost of the car. You will also have to shell out money for finance, taxes and registration fees, car insurance, fuel, and maintenance. So, be wise and don’t spend your entire money on the cost of the car.

Decide how much you can spare for down payment. If you can come up with a higher down payment amount, your probability of getting loans will definitely increase. You will benefit more if you go for a trade-in.

Personal Finances

It is necessary to go through your account books before applying for the loan. Check for any unpaid bills of the last month. Every bill is going to affect your credit score, so pay them at the earliest.

It is also important to have a stable job with a consistent income. This will ensure the lenders of regular monthly payments.

Analyze Your Credit Report

It is necessary that you review your credit report every year. Don’t worry; your score will NOT drop if you run your own credit report. You can get a free report from the website The website is dependable as it operated by the three major credit reporting agencies – Equifax, Experian and TransUnion. These same companies calculate your credit score.

Check for any discrepancy, fraud or identity theft. Pay attention to unauthorized inquiries. If there are any, notify the credit bureau immediately. When you do so, you should include copies of documents which support your complaint. You must also make sure that you give your complete name and address.

Don’t apply for loans during the investigation, unless absolutely necessary. If you apply for any loan, then write to the lender about your situation and submit the same documents to him.

An Important Tip for Bad Credit Score Holders

You are having a bad FICO score, but your Auto Industry Option Score may be very good. This score gives more importance to loan payment history. If you have a great auto loan payment history, you will have a better chance of getting a lower interest rate. So, ask the lender to consider your Auto Industry Option Score.

Complete a Certified Driver Education

A driver education course makes you ready for driving on the road. It will reduce your chances of getting into accidents. You will be considered a low risk driver and hence, you will get a reduction in your interest rate.

Search for the Right Car

Your right car doesn’t mean the most lavish car. It depends on your needs.

There are quite a few car types available with you like Sedan, SUV, Convertible, Compact, Coupe, Minivan, etc. You can go for an old or a new one. Think logically and then decide. Remember that you have a bad credit score. If you go for an expensive car; you will have to pay even more.

It is advantageous that you go to a dealer at the end of the month. Dealers have to achieve their monthly sales targets, so they may offer you greater discounts.


It is important to ask someone to be a co-signer for your loan. It will eliminate risks from the lender’s mind. Ask your parents/ friends to co-sign as it is the best option available.

Explore for the Right Lender

Many lenders offer car loans for bad credit borrowers. But to get the best deal, you will have to work harder and smarter. This is possible with a comprehensive research only.

You can cover wide area within less time by using the web. Companies do provide online auto loans. All you need to do is fill a simple online form and hit the submit button. You will get free quotes instantly. Compare them and choose the one that suits your needs.

Just because you avail instant quotes, it doesn’t mean that you apply anywhere and everywhere.

The reason being too many pulls can make your credit look even worse than before.

Consider Car Loan Refinancing

If you think you have got a raw deal, then you can always go for car refinancing. Go for this alternative only when you have improved your credit position. You can substantially lower your interest rates with the help of a refinance loan.

Rome wasn’t built in a day.

Don’t lose your sleep over a bad credit score. Remember everything takes time to improve. Keep working meticulously and you will be able to improve it.

Be in charge of your finances today and ensure a better tomorrow!

Be the first to comment - What do you think?  Posted by badcreditcarloans - December 21, 2011 at 7:33 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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Bad Credit Car Refinance – Get A Better Replacement of Your Loan

Everyone is dealing with credit issues. Lenders, who once financed all and sundry, have become so selective that an average credit score is not enough for them. So, a bad credit score is absolutely out of question.

Stringent lending norms and a bad credit score made you a sitting duck for dealers. But, this doesn’t mean you are stuck with high interest rates for the rest of life. The 43rd US President said that America is land of second chance. And, it surely is.

You can have your second chance by refinancing your auto loan. Remember, that your bad credit record is just a history and nothing more. There are still few lenders who are interested in giving you that second chance.

You have the opportunity of paying off your loan with a new low interest loan. A bad credit score sure compelled you to opt for higher interest rates, but things can change now. Bad credit car refinancing can free you from the vicious circle of high interest rates – high payments. It is a simple process and has the potential to save loads of money.

The loan term is also a bit longer so that it becomes easier for you to make payments. With bad credit car loans available, you are no longer required to avail an expensive personal loan for making payments.

There is another important benefit associated with refinancing. As the new lender will need few days to process you loan, you will actually get to skip your payment. Isn’t it great?

Now, Why Are Lenders Interested In You?

Does it sound too good to be true?

Well, lenders have a reason for it. They know that you are crazy for your car and won’t let it repoed. But at the same time, it is becoming extremely difficult for you to make such high payments. They know that you just need a low-interest loan. Lenders are assured that they will not lose money if they decide to refinance you.

When Someone Is Ready To Refinance You, Why Wait?

It is a misconception that you must at least wait for a year to look for refinancing options. There is no minimum waiting period or lock in period on auto loans. You can refinance your loan anytime you want it. The earlier you do, the better it is. An auto loan is designed in such a way that your early payments are directed towards the interest amount and so your principal amount won’t reduce considerably. So there is no point in waiting, is it?

Also, a car is a depreciating asset. So if you refinance it early, there are lesser chances of an upside-down loan.


Unlike mortgage refinancing, car loan refinancing is less concerned with appraisals. There are no stringent inspections.

You will just have to specify the car’s year of manufacture and its mileage. Also a clean title is a condition. If you want to have a shorter loan term, the lender may even accept an eight year old car.

It doesn’t matter for the lender if you have had a bankruptcy or tax liens in past. A continuous employment with the same employer and regular payments will definitely improve your chances of approval.

Web – The Best Place

From pin to plane, internet is the best place to find everything. Use it to search for bad credit lenders. They also go by the name of sub-prime lenders. Fill in the simple application form and you will be able to generate several free car loan quotes.

Now, you must remember that you get the best deal only when you compare. A lower interest rate with a longer loan term is almost same as higher interest rate with a shorter term.

So, calculate the APR (Annual Percentage Rate). It will express the exact interest rate for a whole year instead of monthly payments and will be an effective tool for comparison. Take help of the online loan calculator to compute the exact benefit.

Once you find that flawless loan, don’t wait for long. Grab the opportunity and get going. Sign the dotted after scrutinizing the contract.

As you complete the documentation process, the new lender will pay off your loan and you will be able to make affordable monthly payments.

What Should Be Your Long Term Strategy?

Kudos to you!

You now have a low-interest loan. But don’t be satisfied with it. It is essential that you constantly work and improve your credit score. If you do so, you will be able to get that elite 0% financing.

A high credit score will solve almost all your financial problems. So, take initiatives to re-build it. Avoid unnecessary use of credit card. You must also restrict the number of needless inquiries on your credit report. Make payments on time and slowly your score will improve.

But, the immediate course of action is to hit the web and search for subprime auto lenders. Once you refinance your auto loan, you must concentrate on your credit score.

Smart car owners know that refinancing can help them in a big way, but smarter owners know the importance of credit score as well.

All the best!

Be the first to comment - What do you think?  Posted by carloanrefinancing - October 25, 2011 at 4:40 am

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