Many people believe that a car title loan is a loan for the purpose of purchasing a vehicle, but this is not the case. A car title loan or a vehicle title loan is a way to use your car as collateral to get a loan of up to $10 000. Vehicle title loans can be approved almost immediately and you will have access to your emergency loan funds within 24 hours.
Usually, a lender will only consider the condition and value of the car that is used to borrow money and your credit rating will not be a factor in the loan. In order to qualify for a car title loan, you must completely own your vehicle, with no financing or liens. Loan repayment terms may vary, and if the borrower is unable to make payment, the lender of the car title loan may take possession of the vehicle. Some of the items you may require when applying for a car title loan are your vehicle title, car insurance documents, photo ID and proof of employment.
A car title loan is an excellent option for those looking for a loan because there are far less qualifications than other types of loans. Car title loans require no credit check, involve no hidden fees, and are available to anyone who has a vehicle that is fully paid off. This means that even if you have bad credit, loans based on your vehicle title are still available to you. Most importantly, you get to keep your vehicle! If you rely on your car to take you to and from work, you will still have full use of your vehicle for the entire term of the loan.
If you have unexpected short-term expenses, a car title loan is a fast and simple way to get the loan you need now. Borrowing against your vehicle will get money in your hands much more quickly than any other types of loans because you will not have to wait for the results of a credit check. A short term car title loan can help you get back on top of your finances quickly and easily.
Fast Access Finance can help you get a vehicle title loan within 24 hours. You may be able to borrow up to 50% of the equity available in your car! A car title loan is a good alternative to selling your car in your time of financial need. Complete our online car title loan application to find out if you are eligible to borrow against your vehicle.