If you want to get the money you need to pay off your credit card or car bills, or any other debt, but you don’t have the time to wait in lines at the bank or fill out long application forms, consider applying for a car title loan.
The best part about car title loans is that they’re incredibly easy to get and you can have the money in as little as one business day once you’ve completed your application!
Here are five simple steps to get a car loan that will lead you toward getting your own car title loan in no time!
1. Understand What Car Title Loans Are
The first step is to understand what car title loans are. Car title loans are small, short-term loans that are secured by your car. You can use your car as collateral for the loan and get money as soon as the next business day.
The amount you can borrow is based on your monthly income and credit score. In general, you’ll be able to borrow between $500 and $25,000 with a car title loan.
2. Research and Compare Lenders
Car title loans are oftentimes the best solution for people that need money fast but have no other options. However, when you find yourself in this situation, it’s essential that you do your research and compare lenders before you make any decisions.
This will help ensure that you not only get the lowest rates possible but also that the terms of the loan are fair and reasonable to your needs. You’ll need to compare rates, APRs, fees, and other terms offered by different lenders to find the best deal.
For example, does the lender provide title loans without a credit check? Your lender will ask for information about your vehicle and your income in order to make an assessment.
3. Gather the Required Documents
Gather the required documents you will need in order to apply for your car title loan. This should include your driver’s license, social security card, and vehicle registration.
You will also need proof of residence, like a utility bill, mortgage statement, or property tax statement. Be prepared with all documents necessary to complete the application process so you don’t waste time later on waiting on them.
4. Complete the Application Steps to Get a Car Loan
The application process for a car title loan is pretty straightforward. Just fill out the necessary information on the application form, provide your vehicle’s title, proof of insurance and your ID, and then get your credit checked. Approval usually takes less than 24 hours if you meet the lender’s criteria.
5. Receive Your Loan on the Same Day
Finally, you’ll receive your loan in full on the same business day with no credit check or collateral required! Your funds will be deposited into your checking account (or mailed by cashier’s check).
If you need additional money, you can always repeat this process as many times as you need after you’ve cleared your pending loan. You can also use this service to consolidate other high-interest debt such as credit cards and personal loans.
At Quick Title Loan, We Walk You Through The Entire Steps to Get a Car Loan
If you’re not sure whether or not you’re eligible for a car title loan, just contact Quick Title Loan and we’ll help walk you through it!