Car title loan are just what the name implies: A loan taken out against the value of your vehicle. They are fairly easy to obtain; loan brokers don’t usually require a credit history and the loan amount is secured by the vehicle itself. A title loan can usually be obtained in less than an hour and they can be a viable short-term solution if you need cash for an emergency. There are several advantages for this type of loan and some things the consumer should be careful of when considering a title loan.

A car title loan is pretty cut and dried. there are usually any number of companies that do title loans in your town and many now do business online with a brick and mortar stores conveniently located to pick up the loan check. You simply go in and fill out a short loan application. The title loan company will need:

• Your name, address, and phone number

• The make, model, and year of the vehicle

• Mileage

• Proof of insurance coverage

• Employment information for the borrower

The loan amount can be as little as $100 in some places and run as high as 75 percent of the KBB resale value of the vehicle in good condition. There can be no outstanding liens or outstanding loans on your vehicle and you may have to surrender your title until the loan is paid off. These are meant to be short-term loans and a typical loan duration is 90 days.

There are several benefits to this type of financing, if the borrower doesn’t abuse the option.:

• They’re fast. Loan approval can take as little as 15 minutes.

• They’re convenient. You can walk in with your title and get your cash with a minimal amount of hassle, and most towns have multiple lenders to choose from.

• They don’t require a down-payment or a credit check.

• As long as you pay them back within the original loan term, they are a safe and affordable emergency option.

There are many ways to get credit these days however the use of your car/vehicle is the easiest and the most convenient way. The reason for that is that as long as you own your car/vehicle generally you get the loan approved and the cash you need the same day. This allows you to use the cash for emergency purposes, like hospital bills, helping family and paying bills.

What determines how much you can get?

Generally consumers have many questions when applying for the loan one of the question that comes up the most is how much can I get? There are many factors that that determine the value such as the make, model, mileage and the trim of the car/truck. After which we evaluate the vehicle for its road worthiness and then our experienced specialist work with you to get the most amount up front.

What happens when you can’t pay up?

It is our pleasure to serve you and we understand that bad things happen to good people. Once you figure out that you may end up missing the payment, it is very important for you to contact us and let one our specialists work with you. We are here to help you and be there when you need us the most.

The vehicle financing process can be a complicated web of confusion for most, we commonly receive a lot of questions on how loan process works. So we’ve created a wonderful roadmap showing the steps in our loan process.