advantages of a car title loan

Advantages Of A Car Title Loan

From time to time, life throws us a curveball, unmanageable financial problems pop up, and we need cash now. Don’t worry; you don’t have to face these problems alone. Unexpected expenses are a fact of life, and if other means of getting cash isn’t possible, you can have peace of mind knowing that Quick Title Loans is here to help with a car title loan in Los Angeles. There are a couple of advantages to getting a car title loan and a few things to know before getting one. Let’s deep dive into this for today’s blog post.

What is a car title loan?

A car title loan is a secured loan that lets you, the borrower, use your car as collateral. Since your car guarantees the loan repayment, the lender can repossess your car if you don’t repay the loan on time. They are usually short-term, high-interest loans that have few restrictions.

How do car title loans work?

You can apply for a car title loan through a lender, like Quick Title Loans, which offers the loan as long as you own your vehicle outright and have a lien-free car title. If approved, you’ll hand over your car’s title in exchange for the loan. While the lender determines the terms of the loan, car title loans usually have terms of 30 days. With a car title loan in South Gate CA from our team, most terms are written for a term of 36 – 48 months, but you can repay earlier without a pre-payment penalty.

Advantages of a car title loan include

  • Car title loans are perfect if you have bad credit. A bank likely won’t give you the ten grand you need for your debt or doctor bills, but if you have a car, a car title loan will get you what you need.
  • No credit check – Quick Title Loans will not check your credit. Our decision is solely based on your ability to repay your loan and your car’s value.
  • With Quick Title Loans, the car title loan application process is quick and easy.
  • Quick Title Loans has high approval rates because there is very little for the lenders.  
  • Quick approval process and access to funds – If qualified, you can have your cash in as little as 30 minutes, and you get to keep your car. On the other hand, if you can qualify, other loan possibilities include home refinancing options or applying for a bank loan which can take a long time and requires a lot of work.

In order to begin the application process, it requires that you are at least 18 years old, have proof of income, proof of residence, and the submission of any other documents that are needed.

You Will Need

  • Certificate of Title (Pink Slip)
  • Car registration (if available)
  • Proof of Insurance
  • A Government Issued ID – Like a valid driver’s license
  • Proof of income
  • Proof of Address

There are three things you should know before applying for and getting a car title loan in Los Angeles CA.

  • To get a car title loan, you need to own or have equity in your car. Car title loans can range from $100 to $5,500.
  • Car title loans have high fees and interest rates. When you get a car title loan, the lender must tell you the Annual Percentage Rate (APR) and the total cost of the loan.
  • If you can’t repay a car title loan, you could lose your car.

Quick Title Loans has a $2,500 minimum loan amount for a car title loan; however, clients often apply for higher amounts.

What Does The Amount Of The Loan Depend On?

  • The age of the car
  • The mileage of the car
  • The overall condition of the car
  • Your ability to repay the loan amount

Getting A Car Title Loan In South Gate CA

The reviews are in, and Quick Title Loans clients are raving about their fast and easy process, their staff’s professionalism, their friendly, thorough explanations, and excellent customer service. If you find yourself in a bind and need money fast, Quick Title Loans can help with a car title loan in South Gate, CA.

We aim to please. Our friendly associates will be happy to answer all of your questions. Contact us today to start the process!