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WHAT HAPPENS WHEN I SECURE A CAR TITLE LOAN BY USING MY CAR AS COLLATERAL?

sbanderas

sbanderas

Total Posts: 181

Published Date: June 30, 2022
Categories: Car Title Loans,  Car Title Loans California Blog
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If there is any way that easy and fast to get cash loans, it is turning your car into cash. A car title loan is a short-term and secured loan that is gotten by borrowing against the equity in your car by using the car as collateral.

A car title loan can be gotten the same day as it is a type of loan that does not require much paperwork or credit checks like some other types of loans. However, to secure a car title loan, you need to own a car outright with the title of the car in your name.

What happens When I use my Car as Collateral?

The following are what happens when you use your car as collateral;

  • The amount of money depends on the equity you have in your car. you can get as much as 50% of what your car is worth when you apply.
  • A lien is added to your car title. This means that you will still have access to your car but you would have to leave your title with your lender who will place a lien on it. When you pay off the loan in full the lien is lifted off your car title.
  • The equity in your car is determined by the model, make, year, and mileage of your car.

A car title loan is a way of taking advantage of the equity you have in your car to secure quick cash loans. It can be a way out of your financial emergencies. The higher the equity in your car, the higher the loan amount you can get.

Get a Car Title Loan in Three Steps

  1. Apply: You can apply for a car title loan online or by visiting a loan store or by calling a loan agent to complete the process.
  2. Submit Documents: If you are applying online, you will be required to attach all the necessary documents after filling out the online loan application form. If you are applying in person, then you need to submit the required documents in person or physically. Your documents will be assessed and if they are in order, you would be approved for the loan and also be notified of the loan amount approved for you.
  3. Get Your Loan: After your loan application is approved, you would be contacted to know what means of funding you prefer. You can complete the entire process in a few hours and get the loan you need the same day. It is fast, easy, and simple to secure a car title loan.

With this type of loan, you don’t need to worry about having bad credit or lack of no credit history as long as you own your car outright. If you are experiencing difficult financial situations that require quick intervention, a car title loan is one way you can use it to get your finances back on track.

Trading Financial Credit, LLC may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. Trading Financial Credit, LLC does not offer or service student loans. California loans are made or arranged pursuant to a California Financing Law License : 603-8192. Arizona: Loans made pursuant to Arizona Department of Financial Institutions.

New Mexico: Loans made pursuant to New Mexico Regulation and Licensing Department Financial Institutions Division Small Loan Company License. Small Loan License 02069

*Credit approval is subject to Trading Financial Credit, LLC credit criteria standards. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by applicant. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.

*Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 5PM PST on a business day.

*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.