Frequently Asked Questions
BAD CREDIT LOANS
Firstly, how does a vehicle title loans work? It’s simple; the lender uses your car as collateral. Your car is valued and you are loaned accordingly. In California, the minimum amount set by state law is $2,500. This is duly supervised by the DBO.
If that sounds like you, then YES, you can still get a title loan with a terrible credit history that is a thousand miles away from being impressive.
You most likely like many others out there have made poor financial decisions that have dented your credit score but it is 100% possible to still get a title loan
Your car is automatically the collateral for your auto title loan. Your car makes it easy to obtain the car title loan as the lenders have something to fall back on if you default on your loan repayment. Though bad credit may impede getting loans in some areas, this is entirely different for car title loans as your vehicle’s worth and ability to repay the loan is mainly the basis of receiving a loan not your credit score. This in no way implies that the lender does check your credit history, they will certainly need to know if you’re heavily defaulting on major payments alongside being unemployed.
But keep in mind that past bankruptcies hardly get in the way of getting a car title loan.
That said, your credit rating/score only represents your past.
The approval is not influenced in any major way by a bad credit rating. Car title loans are almost effortlessly secured because lenders are assured by the important asset in question which is your car and its value if unfortunately, you fall outline. This means, aside from your pledge to repay the loan the lender has something valuable to hold on to. In essence, auto title loans are somewhat a blessing for people with bad credit record and are finding it hard to get a loan elsewhere.
Also, your job will be your credit. So as long as you can show your proof of income, you will be able to get a pink slip loan.
Giving auto title loans to persons with bad credit history isn’t much of a big deal for lenders as bad credit will not stop you from getting a car title loan. The value of your vehicle and your ability to repay are the most important things. You can get from 60-80% of the car’s resale value. Other factors that could influence getting a title loan despite a bad credit score include:
- State of the vehicle
- Car mileage
- Car model
- Year of launch
- Your monthly income doesn’t necessarily have to be from an employment
- Formal references and some other factors.
The quick fact here: a vehicle with more than 200,000 miles in it will not qualify for a title loan in California, except it is a diesel truck.
Conclusively, your bad credit should not deter you from applying for a car title loan as it plays very little influencing most lenders decision to give you a loan.
LOAN PAYMENTS
One of the first things that people ask us here at Car Title Loans is “What is the maximum loan amount I can get?” Lenders use a wide variety of factors to assess and determine the value of your vehicle and the maximum loan amount they can give you. We will get you the maximum title loans every time you apply with us. Getting maximum title loans from us is easy because we have a higher advance rate than other lenders. However, not all lenders let you in on that process in the way that Car Title Loans California does.
We have crafted new ways of valuing your vehicle and determining a lend-able amount so that the process will be as easy as possible and you will be able to borrow as much money as you might need. We can usually give you a quote over the phone by knowing just a few simple facts about your vehicle. We go to all this trouble to make the process as quick and painless as possible because we are aware that you are probably in a hurry and need money quickly.
We have consistently made our customers our top priority which is why we care about transparency and consumer education. We want to help you understand each step of the lending processing before you make any commitments. To understand better how you can get the maximum loan amount then please continue reading this article. If you decide that your car has enough value in it or you would like to receive a free quote from us on your vehicle, then fill out our online application or give us a call today!
Determining the Value for your Car Title Loan
You can get an idea about the value of your car before even speaking with us if you wish to by checking out any number of various car value estimators. One long-standing online free estimator is the Kelley Blue Book, at https://www.kbb.com/. If you input your vehicle’s age, make, and model then you will be able to find out a ball-park estimate of the maximum loan amount of your car. That is usually the first step we take in determining the maximum loan amount. We run your vehicle through a more exact estimator to determine the trade-in value of it by using the year, make, model, style, mileage, and condition.
Most lenders go by the trade-in value of your car since that is what most dealerships would pay for it if you were to get rid of your car. To give you a free quote, we only require the basic facts. To get you a more solid quote with loan terms or equity loans, we require pictures of your vehicle to verify the mileage and the condition of your vehicle. Then when we pass over the money that you are borrowing we like to take a quick look at your vehicle in person so we can verify that the pictures were accurate and current.
Determining How Much We Can Lend for your Car Title Loan
Once we have determined a more exact picture of the trade-in value of your vehicle we can cut that down to the maximum loan amount for your title loan. We are usually able to offer UP TO 85% of the trade-in value price to qualified applicants. You can occasionally qualify for more than 50% or sometimes qualify for less. Whether you can get more or less than 50% is usually determined by the requirement to qualify. We cannot overextend our customers because of the high risk it poses to both us and them.
If you are left with any questions after learning about how we determine the value of your car or how to get a pink slip or how much you can get on a car title loan, then please give us a call. We would love to answer all your questions and give you a free quote on how much you may be able to borrow. However, if you have already decided that you would like to apply for a title loan with Car Title Loans California right away then go ahead and get started with our online application!
Learn more about Title Loans at https://en.wikipedia.org/wiki/Title_loan
We sometimes get into financial difficulties and yes, even the best of us. And to sort these issues, friends and family are occasionally great options.
Aside from them, getting a loan with your car as collateral is another possible way of getting cash real quick and easy.
Qualifying for a car title loan is pretty much easy, you get a loan based on the equity in your car. A car title loan gives vehicle owners access to a few thousand of dollars in a fast loan process. There is minimal credit requirement to get this loan and prominent among these requirements is that you have qualifying equity in your car. In simple terms, when you sign a loan agreement with a lending institution, you are clearly saying your lender can take full possession of your vehicle if you default on payment.
Title loans are delivered just within minutes to a few days of application and approval so it’s a viable option if you are seeking a quick loan.
Car title loans are typically short-term loans and many are due 24 to 36 months. Hence, repaying the loan and getting your title back should be a major concern immediately you get the loan. A good number of borrowers fail to understand that due dates are often in a few days, weeks or months so there are additional interest and late fees being applied to the title loan account.(with additional charges most times) and when borrowers default on repayment, title lenders repossess the car.
To avoid this, ensure you only take a car title loan if you are certain of paying back the loan or make your monthly payments on time. Sadly, some people take auto title loans without making repayment plans and some of loan takers have lost ownership of their vehicles in the process.
But if you stick to your end of the agreement, you could save yourself a lot of extra interest and fees by just paying on time and even more important the embarrassing repossession of your vehicle by your lender.
So how do you get your title back? Remember, you handed all ownership rights to your lender immediately you took the car title loan, therefore before you can get your vehicle back, you must repay the loan in full, this includes the initial loan amount, interests and late charges if repayment period was extended.
They may differ with states but generally, reclaiming a car title follows virtually the same procedure.
An auto title loan is filed right under secured creditors. Once you complete the payment plan, the lien holder notifies your state’s Department of Motor Vehicles (DMV). This could be done electronically or via submission of paperwork as proof of repayment.
Usually, there may be delays as checks have to be cleared and paperwork’s prepared to duly notify the state. Your title is mailed to you once the DMV is notified. It may work differently in some states as you might need to go in person to get back your title at the vehicle agency.
Most people come to us every day with this type of question sometimes tens and hundreds of them. Is there a pre-payment penalty? No, absolutely not!
Since the penalty is based on the remaining title loan balance’s percentage, this means that you’ll have to pay interest on the loan.
In most cases, a contract of a loan states that you’ll have to pay a penalty for the pre-payment of your title loan.
In our case, you won’t be asked to pay any kind of penalty or you won’t be charged if you make a decision to pay off your loan earlier than the end of the loan term
Many people don’t seem to understand what a “prepayment penalty” is, much to their own detriment months or years after signing mortgage loan documents.
This is especially true because it is often poorly explained, or not brought up altogether.
Instead, it’s buried in the paperwork and glossed over by borrowers who are eager to close on their mortgages and move on.
Unfortunately, this can be a costly mistake if you happen to break the rules, whether you realize it or not.
A prepayment penalty, also known as a “prepay” in the industry, is an agreement between a borrower and a bank or mortgage lender that regulates what the borrower is allowed to pay off and when.
Most mortgage lenders allow borrowers to pay off up to 20 percent of the loan balance each year.
At this point, you might be wondering why would anyone pay more than 20 percent of their loan off in one year?
Well, thinking outside the box a bit, paying off a mortgage early can happen in a variety of different ways.
Some customers want to pay the loan off earlier and that is GREAT because interest still is being charged while you have the loan out but once you stop, the interest stops as well.
This is extremely helpful because you could literally save thousands of dollars.And this will be to your own benefit
At Car Title Loans California, payment is due within 30 days.
On a multi-installment title loan, payments are due monthly. You can make a payment on your title loan as often as you would like to, and Car Title Loans California encourages it.
This flexibility helps our customers to fit their repayment into their own unique budget.
Car Title Loans California will never charge you a prepayment penalty. You can pay off your loan at any time.
Click here to make a payment on your loan.
Our goal is to become your personal banker that you can go to when you are in need of some quick cash.
We offer the best services on car title loans, specials for returning customers, and monthly giveaways for our valued clients.
If you are currently considering a title loan then you may be curious “how are title loans paid back?” Here, at Car Title Loans California, we want to detail all the ways in which you can pay title loans back so you can pick the one that is absolutely best for you.
We are strong believers in consumer education and lender transparency so we want to make it as easy for you as possible to get the information you need.
It is for this exact reason that we have been building out and expanding our website to include these resource articles to answer each and every question you could come up concerning title loans.
Car Title Loans California has been around for so many years now, making us one of the oldest if not the oldest title loan lender in the state of California.
We have so many years of experience under our belts and that has helped us to perfect the lending process along with the repayment process so it all goes as smoothly as possible.
We know that all of our customers have different unique circumstance that make certain payment methods unrealistic which is why we have been regularly coming up with new ways to pay down your auto title loan.
The most recent option that we have introduced is a new online automatic payment method.
With this new option, you will never make a late payment again.
This new option allows you to make payments via ACH.
All of our customers will be able to make payments through ACH via the phone with a representative or make a one-time payment as a guest online or enroll to be able to continue making regular/automatic payments online.
Simply visit our site to make a guest payment or enroll for automatic withdrawals. However, this is only the most recent addition.
There are still many other ways to pay off your title loan.
Ways to Pay Off Your Car Title Loan
There are numerous convenient ways for you to make payments on your title loan. We continue working on new enhancements to our payment structure so this list may continue getting longer over time. For now, these are the available options we have:
- Mail in your payments just like you do with your rent check or your utility check. That way you won’t forget.
- Online single or automatic payment through ACH.
- Pay over the phone with a card by talking with one of our friendly loan agents.
- You can make your loan payment in person at one of our numerous locations with cash, card, or check!
- You can pay at a local MoneyGram center or use MoneyGram online. The standard fee for making a payment through MoneyGram is $9.95 and MoneyGram’s online service has a $600 limit per transaction.
- We also accept payments via Western Union to make it as convenient for you as possible.
So, you can see that at Car Title Loans California, making a payment is not as difficult as you think.
So take off your mind off those negative thoughts of being caught up while trying to make your payment because we will make it a seamless one!
PROCESS
Looking for fast access to cash for an emergency? There are a few alternatives, but Car Title loan California online car title loan offers you the most advantages. Car Title Loans California, one of the California most reputable consumer finance companies, offers borrowers who own a vehicle the ability to borrow money rather easily. How It Works;
STEP ONE – Fill Out the Application
The first thing is to fill out the application online with correct response in boxes provided and we will be glad to walk you through it. Either way, we just need a little information so we know who you are, a bit about you, some details about your car, quite easy, isn’t it?
STEP TWO – Provide A Few Documents
Here you will have to provide us with a clear title to the car for registration and In addition to that title document, we will need to see a couple of other items to help us know who you are and where you live as this will help determine the type of loan to be provided for you. Your Car Title Loans California representative will tell you exactly what we need, but it will be simple items like your driver’s license and a utility bill or two, no cause for alarm.
STEP THREE – Get Your Car Inspected Online
You have the option to stop by one of our multiple inspection stations in California so one of our associates can take a quick look at the car to make sure it matches the title you are presenting.
Car Title Loans California representative will help you find the one nearest you, to reduce stress, you can simply upload the picture of the sensitive required part while we inspect from here.
STEP FOUR – Pickup Your Money!
Once we approve the loan, you can pick up your cash at the MoneyGram location nearest you! There are thousands all across California.
That’s it! No loans based on credit checks. No stacks of paperwork. No waiting.
Car title loan is no doubt filled with lots of benefits. All conventional loans will require an examination of your credit history. But in this case, the vehicle will serve as collateral and in the event that a borrower does not repay, the lender can take possession.
The loan is not dependent upon a borrower’s payment history. If you have a poor credit history, it will not affect your ability to take out a car title loan.
Continue driving your vehicle. You may think you have to give up your vehicle to the lender while you repay the loan. That is not the case. You are able to keep driving your car or truck as you pay back the loan. You do give up the title to the vehicle until you make your last payment.
Car title loans offer reduced rates of interest when compared with other car title lenders. Since the title to the vehicle provides the lender with a layer of security, they can charge less in interest.
Are you looking to apply for a car title loan in California and you’re looking for a step by step process on how to go about this? Don’t sweat it as this post has all the information you’re looking for. After reading this article, you should be able to make an informed decision.
So, you’re looking to get a loan, and you’re running out of available options, well, have you thought about taking a car title loan?
Car title loans are one of the easiest loans you can apply for and guess what, the process isn’t as cumbersome as other loan options available outside or within California.
To apply for a car title loan in California, it’s important that you’re 18 years old.
This is one of the basic requirements. If you have fulfilled this condition, then you must also have a government ID to prove this.
That’s not all; you need to have a car with a lien-free title to your name or nearly paid off at your finance company, and yes, some source of regular income too. By source of steady income, anything from a regular salary, pension or disability benefits or even unemployment benefits as the case may be.
Once you have met all these requirements, you can proceed to either apply for a car title loan online or visit a location close to you.
The benefit of applying in a location close to you is that the value of your car can be immediately ascertained after inspection and the professional loan officer proceeds to make you an offer.
To put things in retrospect, here is a summary of how the lending process works in California, here is how you apply for a car title loan.
- First, you have to fill out an online application if you don’t want to do this; you can simply visit a location closest to you.
- A loan officer is assigned to contact you right away.
- You’re asked to bring your documents to verify if you qualify for the loan. Once this is met, you’ll receive cash instantly depending on the financial institute you’re dealing with.
- The exciting thing is you get to keep your car while you’re free to use the money loaned at your own discretion, easy right? I thought so too!!
But before you get excited, you should also know that there is a repayment plan you have to be responsible for.
This is quite important if you want to maintain a good credit score with us. Having granted your loan request, you’re presented with a repayment plan. It is important you know when exactly when the loan is due for repayments and what percentage you’re supposed to be paying.
Amazingly, you can either choose to pay back in cash or better still use your credit card depending on what you think works for you.
In summary, the lending process of obtaining a car title loan in California is easy, so, always do your due d the diligence, so you don’t get turned down.
Are you thinking of applying for a car title loan in California and you’re wondering how long it will take to get it approved so you can have access to the cash you urgently need?
Well, you need not worry as this article has all the information you need.
To get all the information you need about when you’ll be approved after applying for a car title loan in California, read on and you’ll find out in a bit.
Without mincing words, car title loan is one of the fastest loan options available to people who urgently need cash.
And unlike other forms of loans, there are little requirements needed to procure this loan.
For people who currently have a bad credit score, this is the loan for you. So long you have the necessary documents and of course meet their age requirements your loan request will be approved within the shortest possible time.
The time for approval depends on the issuer of the loan and how you applied for the loan in the process.
If you applied online, of course, you’ll know that there would be some form of physical assessment to determine the value of your car before your loan request is approved.
On the flip side, if you apply for a car title loan in a location that is close to you, you should get your loan approved within a day or more.
While some financial institution claims to approve this loan within minutes, others would take 24 to 48 hours to verify that your documents are legitimate and that you have met all of their other loan requirements but we are Car Title Loan California takes just minutes to approve your car title loan.
Let me give you a cheat sheet on how to go about applying for a car title loan and how to get approved easily.
Before applying for any car title loan in California, you should do your own research and do business with an organization that lives up to its promises.
To be on the safer side, always read through the TOS of every organization you’re dealing with. Many of them state quite clearly how long it would take to grant your loan request. If you really need the cash urgently, it would not be smart to go with a provider that gets your loan approved in a day or two. We will be able to fund you the same day you apply with us.
To ensure you don’t get anything wrong that may get your car title loan request denied, you should double check to make sure you have met every requirement set out by the loan provider, more so, you should ensure all your documents are complete and up to date.
If you share a car title with a third party, ensure you let your loan provider know so they can reach out to the third party for approval.
If you have all this in place, you should get your loan request approved in 15 minutes when you visit Car Title Loans California.
Do you have a comment or question about car title loans in California you’ll like us to clarify, please feel free to leave us a message, and we will give a response a soon as possible.
Getting a car title loan in California
Applying for a car title loan in California is made easy with us. If you are a resident of California, then this is probably the car title loan you are looking for.
All you have to do is follow these 3 quick and easy steps:
Step1: Click, Call or Visit.
It is totally free to apply and takes just a few minutes. We’ll give you a free quote with no strings attached. If you have any questions, our loan specialists are here to help. Kindly call us on phone, or log into our website or visit us directly.
Step 2: Submit your Documents
You will need a few things to be sent. But don’t worry, it won’t cost you to climb mountains and cross seven seas. Just a few papers that you probably already have with you is all that’s to be tendered. The list is short and you can complete this part in under an hour. All you have to do is fax, email, or text us pictures using your smartphone, we will get to work it out right away
Documents to be submitted:
- A car title to a qualifying car in your name
- A government-issued photo ID like your driver’s license
- Evidence of Income (like paycheck stubs, invoices or bank account statements) showing your ability to repay the loan
- Proof of residence (a piece of recent mail like a utility bill will work)
Car Title Loan California agents are readily available if you’ll need help submitting these documents. You can fax or email them right from your office, or use your smartphone or tablet’s camera to snap pictures of the documents to send from wherever you are.
Step 3: Get Your Money
After screening your paperwork, the team will contact you to talk about what your options are. After signing, you can choose how you get paid — electronically, with a check or by visiting one of the participating store locations in your neighborhood. In some cases, you can even go to your Walmart money center and pick up the funds through MoneyGram.
BENEFITS
Car title loans with Car Title Loan California have many benefits that will help get customers the money that they need in as little one day! Here are some benefits tend to be enjoyed with car title loan California.
With reference to the interest rate, California does not have limits on finance charges for personal, household or family loans. The rates are largely determined by the lender and borrower and should be outlined before the contract is signed.
Car Title Loan California offers their car title loans to those with any credit history.
We get that sometimes life isn’t always the fairest, and that is in no way your fault. With this in mind, Car Title Loan California will take a brief look at your credit history, but the score is never a major deciding factor as to whether you will qualify.
Car Title Loan California high approval rates show that we’re excited to work with you and have you join our Car Title Loan California family.
So, what are you waiting for? Car Title Loan California has been a trusted lender and leader for over 20 years now, adjusting to fit your schedule and evolving with our ever-changing world. Get your life on the fast-track to financial support today!
When you have unexpected expenses or need money to cover utilities or other bills, pawning your car title could be an easy way to get cash without going through the process and uncertainty of applying for a traditional loan. It allows you to take out your car’s equity, while keeping the use of your vehicle.
Once you’ve pawned the title to your car, you will be required to make monthly payments on the value of the title until you’ve paid back the amount of the pawn, often with additional interest.
If you’ve decided to follow this route and are wondering, “How do I pawn my car or motorcycle title?” here is a short, general outline of the process to pawn a car title.
The requirements for pawning your car or motorcycle title vary slightly from state to state, but the overall process is simple. To pawn your car or motorcycle title, you’ll generally need these things:
- Your car or motorcycle
- The lien-free auto title to your vehicle that lists you as the owner
- Government-issued identification, like a driver’s license or state ID
- Proof of income
Many car title loan companies require that you own your car outright, without other liens or title loans. Proof of income may be employment, Social Security, pension, or another dedicated source of income.
This is to be sure you have a means of paying back the value of the pawn. They may also ask for supporting documents, such as a utility bill to verify your address. Once you’ve gathered all of your documents, take them and your car title loan company. Car Title Loans California has multiple locations around the state. We also give you the option of applying for your loan online to save you time and gas.
At the car title pawn location, your car will be inspected by a sales associate. The make, model, year, and condition will be assessed and used to determine the value of your pawn.
When you take your car to Car Title Loans California, one of our friendly, trained associates, will give your car an appraisal in as little as 5 minutes. Your loan amount will be determined based on your specific cash needs and the value of your vehicle.
After the amount has been decided and you’ve agreed to the terms of the car title pawn, you’ll receive the full amount of the pawn, usually in the form of a check. Car Title Loans California will give you your cash, and you get to drive away with your vehicle.
At Car Title Loans California we understand that life happens. Medical emergencies, unforeseen home repairs, unemployment… all these things can play havoc with your finances and leave you feeling stressed.
Poor credit history is a roadblock when applying for a traditional loan from a bank, and approval can take time you don’t have. Stop dying in silence, come to us today and we will make you smile again.
QUALIFICATIONS
Excessive worries can lead to anxiety, affect your relationships and even make you sick. Let me guess, you’re probably going through a terrible job loss, a barely steady job but the immediate needs just keep piling up mercilessly.
Chances are that you own a car and you are already thinking of getting a car title loan to offset most of the financial obligations but then, you wonder, can I get a title loan without a real job?
Definitely YES, you can get a title loan without a job at least from most title loan lenders.
With these loans, you can get funds to settle most pressing commitments. The fact remains, however, most lenders want proof of a job before giving you a loan but it shouldn’t put you off as you can still work your way around getting a loan if you look in the right places.
While we often hope for the best at all times. Cars, like every other property, frequently utilized could face susceptible to some of the ugliest unforeseen circumstances like an accident or a seemingly innocent mechanical failure can quickly plummet your car value and this is where a proof of income comes handy, a paying job/income ensures you are able to make up the difference in the event of such occurrence.
While some title lenders may be eager to hand you the loan without necessarily demanding for a proof of income, some states have laws against it.
This is done to protect you from legal issues that may arise as per your inability to repay such loan.
Though this article intends to enlighten you on getting loans without proof of regular income, it is best you have some source of regular income before applying for a title loan.
The income can be anything from a pension, disability, and alimony to regular employment or unemployment benefits.
Taking out loans without proof of income
On getting a loan without a job, many lenders allow you to take out car title loans without verifying your income provided a cosigner is presented on the loan agreement form.
The cosigner claims joint responsibility of repaying the loan if the borrower is unable to cover completely the deficits. However, different lenders come up with their lending policies concerning your cosigner, but one thing they all often have in common is making sure your cosigner is someone with a sound financial reputation.
A piece of advice here; ensure you work hand in hand with your cosigner so they get clear details of their part in the deal even if such is a close friend or family member (you certainly do not want to muddy your relationship with that person).
The awesome part of taking a car title loan is that the money is yours to use how you want and this could range from paying up the rent, keeping your cable running or the power on.
Once you find lenders willing to accept your car title loan application without any proof of employment, you are halfway done as all you need do is simply filling out the application form online and if you’re able to convince them of your repaying ability, you get approval pretty fast.
One of the big questions for those who have filed bankruptcy is related to loans. Can a person who has a bankruptcy still borrow money? The short answer is yes, but it does depend on the type of loan.
We will need to gather some information as well in order to help yourself obtain a loan.
First of all, you should know your credit score. You can easily obtain a free copy of your credit report once each year from all three credit bureaus.
Filing for bankruptcy can be devastating to your financial future, especially if you need to take out a loan.
While it will provide you with a fresh start, you will be limited to the things that you can do as far as your finances are concerned.
Getting a loan after bankruptcy can be very difficult, especially if you are dealing with a bank or other major financial institution.
If you are in the middle of your bankruptcy filing and need some extra cash for an unexpected emergency, there may be ways to get access to small loans that will help you out until you are able to get back on your feet.
When you need a small personal loan, most banks and other lending companies will not even attempt to let you apply if you have recently filed for bankruptcy.
It can be very difficult to get your financial reputation back on track, but fortunately, it is not impossible to obtain loans after bankruptcy.
It is very common for individuals to seek out a car loan after filing for bankruptcy; however, if you need one before your case is completed, getting a loan can sometimes be a little more difficult. The chapter of bankruptcy that you file can have an impact on whether or not you can get a car loan
Car Title Loans California
Car Title Loans California has been involved in the auto title loan industry for over 20 years.
We have experienced representatives on staff who can help you learn more about the title loan process.
Getting involved with a title loan company can be a scary experience, especially if you are just getting out of a recent financial struggle.
We want our customers to be assured that they can count on Car Title Loans California in their time of need and that we will work with you to make paying back your loan easy and hassle-free.
To find out more about how Car title Loans California has remained a respectable leader in the world of title loans, visit us online at www.CarTitleLoansCalifornia .com.
At Car Title Loan California we will work with you to provide you with the best possible options for obtaining personal loans after bankruptcy.
Unlike many other car title loan companies or pawn outlets, we charge a competitive interest rate that could help make it much easier for you to pay off your loan fast.
To find out more about how we could help you get a personal title loan after bankruptcy, call, click, or visit one of our convenient locations today and speak with a knowledgeable representative for details on the title loan services we have available.
Of course, you can get a title loan. A car title loan is basically a secured type of loan where borrowers can use their vehicle title as collateral.
The lender automatically places a lien on your car and the hardcopy of the vehicle title is submitted in exchange for the loan.
The lien is removed when you repay the loan and the car title is returned to you.
The process of getting a car title loan in California or any other state is pretty simple. That is, anyone can apply for a loan without so much effort if faced with financial difficulties. How easy? Very easy.
Breakdown
- Own a lien-free vehicle in your name.
- ii. A regular income source/proof of employment (some lenders can let you have a loan without this.
iii. Be 18years and above and prove this with a government-issued identity card.
Meet these requirements and you can easily apply either in person at the title loan office or online with your preferred lender. Your vehicle is inspected and valued.
Now, more may be required depending on the amount of loan you may be borrowing.
Some lenders may request to see an official proof of residency in some cases.
Just as elsewhere, the first step in getting a title loan in California is simply to apply once you meet the stated requirements.
You will be asked by your loan agent to verify the information presented in the application form by providing supporting documents.
The agent guides you through this while answering any question you may have about the loan. This is done to determine how qualified you are for the said loan and ensure your records match all stated information.
After signing the car title loan agreement, your loan is made available and this usually ranges from $2,500 to $50,000 depending greatly on your vehicle value and your ability to repay the loan on time each month amid some other factors.
After you get your required fund, you can continue using your vehicle as long as you make the required monthly payments and follow outlined terms and conditions of the agreement.
Like every other loan agreement, interest rates apply.
In summary, if you are sure of not defaulting on the loan repayment, then auto title loans are likely your best bet for getting easily processed loans as they are some of the most legitimate, easy and fast means of getting funds real quick in emergency situations. The approval rates are unbelievably fast, at least when compared to other credit sources. With auto title loans, it is possible to walk out with the money just within minutes of application and verifications. What could be better?
Many people ask us, “What do you need to get approved for a title loan?” The answer is simple.
You need to be at least 18 years of age or older and be able to prove this by showing a government-issued ID.
You must also have a car with a lien-free car title in your name and some source of regular income, or your car has to be nearly paid off.
The latter can be anything from a pension or disability, to a regular salary or unemployment benefits.
If you meet all of the requirements and have what you need for a title loan, you can apply either in person at a location near you or online.
The benefit of applying at one of our branches is that they’ll immediately inspect your car.
After determining the value of the vehicle, the loan professional will be able to make an offer.
We don’t waste time and we will make the process as less difficult as possible. Don’t just sit there and contemplate on whether you will come or not, make that move today and you will be liberated form your financial stagnation.
In summary, if you meet up with the following requirement below, then you don’t need to ask how do you know if you will be approved because with these requirements there is nothing that can stop you from obtaining a title loan from us.
Identification Documents
You must provide the title loan company with your driver’s license and Social Security number so it can verify your identity. If you own a vehicle but are not licensed to drive, lenders will accept a valid state-issued ID card, military identification or passport.
Residency Documents
Title loans are not available in all states, so you must prove that you live in a locality that allows them. Residency documents also help verify your identity. Lenders need to see a recent utility or phone bill, along with your house deed, lease or a statement from your landlord.
Financial Documents
Although you are providing collateral for the loan, you must still prove that you can afford the monthly payments. Title loan companies require one to four weeks of pay stubs from wage earners. Self-employed borrowers must provide one to three years of tax records, business financial documents and bank statements. Unemployed borrowers who rely on public assistance or Social Security must provide statements from the department of social services or the Social Security Administration. Retired borrowers can provide pension, SSA or retirement account statements.
Vehicle Documents
To prove you are the rightful owner of the car and that there are no current liens, you must furnish the vehicle title and registration. Title loan companies also require proof of insurance so they are protected against loss if the car is damaged or stolen. If the car was under a previous lien that was recently released, you must provide the lien release paperwork from the previous lienholder.
Many people come to us every day with this question and it’s making some people to back off from obtaining a loan.
If you are among those that have been in this situation, then this article is for you. At Car Title Loans California, your car title does not need to be in your name to qualify for a loan. Some company will not give you the loan you are looking for if the car title is not in your name. If your car title is not in your name, don’t worry! We can still help you because we are different from others
Instances where your name may not be on the car title include:
- When buying a vehicle
- When inheriting a vehicle
- When paying off a loan
- When receiving a gifted vehicle
- If your name appears but so does someone else’s name.
- You might have an “and”, “and/or” and possibly just “or”. Example: Gabriel Smith and Juliet Smith verses Julie Smith or Joe Smith.
- When the title says “and/or” or just “or” between the names, this means that either party can use the title for a title loan. If the work “and” is between the names, then the title loan must be in both party’s names.
If your name DOES NOT appear on your car title, Car Title Loan California can help you to change your name on the car title through the Department of Motor Vehicles ( DMV).
Car Title Loans California can assist you to go through the process with ease. When you complete the process of changing your name with the DMV you will be able to use your car title to apply for a title loan. This is how to get the process started:
- Notify the Social Security Administration (SSA) before contacting the DMV.
- Visit your DMV to update the name in person. Unlike submitting address changes, this should not be completed online or through postal mail.
- Go to the department with authentic identification confirming your previous name. You will be required to have an acceptable ID. You can check with your DMV’s website for a list of valid forms of proof.
- Present your existing car title or car registration.
- Bring the required payment amount to cover any duplicate title or registration fees.
- If applicable, bring your marriage certificate, divorce documents or court papers issued in the U.S proving you name change.
These are 3 reasons why changing your name on the title is easy:
- Car Title Loans California is committed to provide car title loans to customers from all walks of life. If your car title is not in your name, we can help you to get it in your name before your loan is processed.
- Keep in mind that DMV requires a change of name notice. You will be only be required to submit a name change for your driver’s license. Then, the DMV will automatically update all of your records.
- The DMV does not only change your name but it also modifies the DMV’s record which will assist you in avoiding any legal confusion. The process of changing your name with the DMV using Car Title Loan is painless and fast.
TITLE LOANS
Buying a used car can be a tricky proposition. It requires a diligent search, test drives, and plenty of legwork to find the right car. One step that should never be overlooked is the search for any liens on the title. If you make a mistake and the vehicle has a lien on it, you may wake up to find your new car repossessed with very little that you can do about it. One should always know how to get a title loan with a lien.
The difference between a car registration and a car title is that the title relates to the ownership of the car, informs the state who actually owns the vehicle, and lists any liens on the vehicle. The registration, on the other hand, relates to the license plates on the car. License plates provide revenue to the state and are usually paid to the state DMV.
A title will not typically contain information regarding the registration or the license plate and should be kept in a safe place at all times. A registration, on the other hand, should be kept in the vehicle if you are wondering how to get a title loan with a lien.
Let’s now go to what a car Lien is. A car lien is a right that a loan company, bank or other party has to the vehicle in exchange for their assistance in paying for the vehicle. A good example of how to get a title loan with a lien: in exchange for the money to buy the vehicle, the bank puts a lien on the vehicle, which acts as “security” for the bank that you will repay the loan.
If you fail to repay the loan, the bank has a legal right to the vehicle, which they will repossess and sell to satisfy your debt.
When you finance a car (take out a loan to help pay for it) you are giving the lender (bank, credit union, etc.) partial ownership in the car until the debt is repaid. That is called a lien and they are the lienholder. (This also gives them the right to repossess (“repo”) the car should you fail to make payments on the loan.)
Once you repay the loan they will send you a release of lien and you should use this to apply for a new, “clean” title, in other words, one free from lien. Having a title with a lien on it will make it difficult to resell.
There are reasons a car may have a lien on the title, perhaps the owner used it as collateral on a title loan, or they owe the government some money or something else.
Liens can be applied to a vehicle by institutions other than banks or finance companies. If vehicle taxes or fees are not paid, the local government may put a lien on the vehicle.
Unfortunately, liens can pass to a new owner if the car is sold, so before buying a used vehicle it is important to know how to get a title loan with a lien.
Also, there is a type of lien called Electronic Lien. The Electronic Lien and Title Program (ELT) is a method by which lending institutions (lienholders) can exchange vehicle and title information electronically.
A car title loan is a type of secured loan where borrowers can use their vehicle title as collateral.
Are you in need of money as soon as possible? You may then consider offering your car as collateral for a short-term loan. After agreement to such a loan, the lender will place a lien on the car’s title, allowing him to repossess it if you stop making your payments. Mind you, every car title loan have their own pros and cons.
PROS
Car title loans are an excellent option for borrowers who need their money immediately. As soon as you and the lender agree to the loan amount and terms, you can receive your cash quickly. In many cases, you can walk out of the lender’s office with the money in hand on the day you apply for the loan.
Apart from other types of financing, car title loans don’t have a complicated or lengthy approval process. Since you are offering a form of collateral, car loans are relatively easy to qualify for, even if you don’t have the best credit score. Many lenders will, in fact, provide car title loans without even with a bad credit score or report. As long as you can show that you have a reliable source of income and a car worth more than the loan you are requesting, the lender will typically approve your loan application.
If the lender places a lien on the car’s title but doesn’t keep the vehicle itself, you can continue to use the vehicle while making payments on the loan. There is certainty of losing the use of the vehicle only if you default on the loan by not making your monthly payments and the lender repossess the car.
CONS
Car title loans often carry high-interest rates. These rates are significantly higher than credit cards rates and may even exceed 100 percent in some cases while a few states have laws that prohibit such exorbitant interest rates, many do not.
Car title loans are also short-term loans, which means that they must be within 24 to 48 months. If you are unable to make your payments, late fees raise the balance even higher, and the lender will eventually repossess your vehicle, which leads to a host of other problems.
TIPS FOR BORROWERS
Additionally, carrying title loans can be sure to pose problems, especially if the interest rate is quite high. Before taking out a car title loan, consider less expensive options. Research on other consumer loans, credit cards, cash advances and even loans from family and friends.
If you must take out a car title loan, make sure that you understand the terms completely. Ask about the APR, as well as any fees that accompany the loan. Finally, make sure that you always make your payments on or before the due date to avoid paying additional fees to the balance, and you may even lose possession of your car.
In a more volatile economy, borrowing is inevitable. A job layoff or a medical emergency can happen anytime and, when you are short of funds, a loan is often the only solution to your financial woes.
Car title loans are fairly easy to obtain but before you do so, make sure that you take the time to gather as much information as possible to make the best decision for you and your family. There are numerous car title loan firms available.
Finding the right one can be tricky. You can help yourself by doing the following when looking for a title loan lender.
To start with, make your list of title loan companies. Begin some research on each firm to make sure they are legitimate. You can easily find out if the company is licensed to operate in your state and you may want to verify that any information you gather is, in fact, true.
Experience, Trust, and Reputation
Think about it: who would you rather work with? A company that has been in business for a month or one that has been dealing with vehicle title loans for over 20 years?
In California, for example, Car Title Loan California, a licensed consumer finance company, has been specializing in car title loans since 1994. A lender that has been in the industry for a while with a solid reputation for helping its customers is one that you can trust.
Read Testimonials
Most reputable lenders will publish testimonials from customers that have used the lender’s services. You should take the time to read through several of them to get an idea of other borrower’s experiences with the company.
Find out if any of your friends or family has ever borrowed money using a car title as collateral.
If so, ask about their experience and, if favorable, request a name and phone number so that you may call them. Lenders that do not offer any testimonials should raise some suspicion. Smart lenders publish lots of testimonials because they know that they are one of their best sources of advertising.
Watch Out For Hidden Fees
A vehicle title loan is pretty straightforward. You fill out your application, prove your identity and residency, and present a clear title to the lender. The lender makes sure the car matches the title and then assesses its value. A loan schedule is drawn up with terms and rates. Unlike other types of loans, there should be no extra fees when taking out a title loan.
Compare Interest Rates
As you would with any type of loan, shop around and compare the interest rates and terms of a variety of car title loans. The interest rate is what it will cost for you to borrow the money from the lender. The higher the rate, the more you pay. There are many title loan companies online these days making it much easier to compare rates. Take the time to do so and find the best deal
Finally, after taking your time to draft an understudy. You are now rest assured to choose the company that meets your needs and goals
Applying for a car title loan in California is not just a stroll in the park, but a breath of fresh air as the process is easy with less hassle common with applying for all other forms of loan. Depending on the loan expert you’re dealing with, the process of applying for a title loan differ from organizations to organizations. But we are unique.
Thanks to the advancement in technology, people can now apply for a car title loan right from the comfort of their homes with the click or swipe of their fingers. If you’re one of those people who doesn’t like going through the stress of physically applying for a car title loans at locations, you can simply apply for your car title loans online. But while this may be desirable for a lot of people especially those with busy schedules; it comes with its own disadvantage especially if you need the cash quickly.
For people who apply for car title loans, after your online application, there is a need to bring your car for physical inspection so the loan professional can determine its value before your loan request is granted.
On the other hand, you can also apply for a title loan at any of our locations. The advantage that comes with this is that your loan approval process is quite faster than applying online.
- This is because the loan expert can easily access your car, determine its worth and proceed to make you an offer.
- However, this may not be a perfect option for people with a busy schedule.
- So, before applying for a car title loan, it will make a lot of sense to go with a process that works just for you.
- If you think you have all the time in the world, nothing stops you from applying for a car title loan at our locations.
- On the flip side, if you think you have a lot on your plate and don’t have all the time in the world to apply for a title loan in our locations, nothing stops you from applying online.
Just know that whatever decision you make has its own advantages and disadvantages especially if you really need the cash as quickly as possible.
Remember, before applying for a car title loan, ensure you have double checked all documents needed. Also, make sure they are up to date.
This can contribute to whether your car title loan request is approved or not. We are sure you wouldn’t want to be turned down especially if you really need to use the cash urgently, so it would be smart to ensure you fulfill all car title loan requirements before applying for one.
For those who need cash urgently, applying for a title loan at our locations will be your best bet, because the value of your car can be accessed on the spot, with your loan professional proceeding to give you an offer he thinks is fair.
In a daily basis, we receive so many of such questions regarding this question.
So many people are confused about this and it makes them sick? Most thinks that there is no way you can get a Car Title Loan with no credit check. Well, it’s not easy to come across a company offering such services.
Car Title Loans California is here to help you out. It is possible to get a Car Title Loan with no credit check when you come to Car Title Loan California, no we will check your credit.
Car Title Loan In California are secured, which means if you own a car, motorcycle, truck or RV – we can get you the cash you need. With traditional banks your credit history determines your loan amount.
It’s not uncommon for most people to have credit that is bad or credit that is nonexistent, that’s why if you need money using your vehicle title as collateral is a fast and easy way to get extra money. Emergencies like car repairs and plumbing repairs just can’t wait till the next paycheck. We’ve been in the title lending business for over 20 years, and we enjoy helping folks to get the money they need now.
We’ve also designed an amazing loan process, which helps more people to qualify in record time without hassles.If you’re struggling financially or dealing with an emergency, we can provide quick funds to get your life back on track.
You also don’t have to worry about qualifying with bad credit because we offer title loans with bad credit. Yes, that’s right; it’s possible to qualify with bad credit. You see, our loans are secured using the car title to your vehicle. Car titles secure the loan, so credit scores aren’t important and are never used for qualifying.
Because we work with bad credit, we are able to process loans quickly and efficiently. If you need cash now, we can fund your loan within 24 hours of applying. Discover more about the advantages of title loans with bad credit and how you could benefit today. Most auto and mortgage lenders always pull hard inquiries, which automatically lowers your score by a few points.
But we pull credit scores , you don’t have to be concerned about further damage to your credit score at the main credit bureaus from a hard inquiry.
So all those looking for a place to get a car title loan with bad credit, you have come to the right place because we are dedicated to make sure that we solve your financial problems. We know that you have been facing financial challenges and so there’s no needto worry about your bad credit with us.
We are a direct lender – there is no middleman! Get your cash today and keep driving your car. When you use your car title as collateral, your car is your credit! So visit us today either by going to our physical office or by going to our website and your financial problems will be solved!
The highest title loan you can get is around $50,000 but it totally depends on what your car is valued depending on various factors and accordingly you are loaned. In California, the minimum amount set by state law is $2,500 that is duly supervised by the DBO.
No, there is no pre-payment penalty on the title loans provided by us.
It is car title loans, where the car itself is the asset to put up as collateral. Car Title loans are usually taken on by individuals in need of fast/instant cash or in financial difficulties.
Yes, you can get a loan on bad credit or no credit. Moreover, you can get an instant loan without waiting for days to get approval.