Where Can I Get A Car Title Loan?
You have many options when it comes to getting funding for a title loan. That wasn’t the case just a few years ago. Back then you had to physically go and meet with a local lender that provided equity loans. This meant that many consumers in rural areas have little to no chance of getting cash for their pink slip.
In some neighborhoods, there is a title loan company or payday lender on every block. Many of us know these services are widely available in the local area and online. That leads some people to take advantage of quick money loans to meet the expense of an unexpected bill. Online title loans are convenient and provide a quick solution to money problems. Take our site for example. You can simply access Premier Title Loans and get a quote for your vehicle’s equity in less than 10 minutes. That’s an efficient time to get cash and it makes your life simpler. However, there is a downside when it comes to taking out a car title loan. Like credit cards, or payday loans, a title loan when used responsibly can be a huge lifesaver. On the flip side, if the loan is not repaid by the due date, the penalties and finance charges are costly. That’s why you need to evaluate your financial and budgetary situation to determine if this type of funding is in your best interest.
We all know that cash advance loans are quick personal loans. The only difference is that cash advance loans are not approved by a bank. The same is true with a pink slip loan. In this situation, a title lender will determine your loan amount based on your vehicle’s equity. Most online companies issue these loans on a short-term basis to persons experiencing cash flow problems. While most banks and other financial institutions will allow repayment of a loan over a course of several months, cash advance or payday loan companies require full repayment within two weeks. Some loan companies allow 30-day loans. For this matter, fast money loans are ideal during emergencies. Nonetheless, applicants must be a position to repay the full balance plus fees within a short time frame.
Most people are attracted to title loans because of the easy approvals. Applying for a personal loan from a bank is frustrating, and usually results in a loan denial. Why? For starters, banks are cautious when it comes to lending money. Even if you have an excellent credit rating and sizable income, it may be extremely hard to acquire a bank loan. On the other hand, cash advance loan companies approve loans minus the headache. There are no credit checks, and collateral is not necessary. Applicants who meet a few basic requirements can have funds within 24-hours. The title lender will want to verify some employment information. They may request and review pictures of your vehicle and sent a notary out to verify the car in person. The money is deposited directly into a bank account. Unfortunately, nothing in life is free. This includes payday loans and car title loans. Prior to applying for a short-term personal loan, inquire about loan fees. Furthermore, it may be in your best interest to research different companies, and choose the lender with fewer fees. Cash advance fees are based on the amount borrowed. Typically, loan companies charge $10 – $30 for every $100 an applicant obtains. If choosing a 30-day loan, the fees are doubled. Avoid excessive fees by borrowing as little money as possible. Additionally, pay back the money promptly. Cash loan companies do not tolerate late payments. Once the payment is late, additional interests and late fees will incur.
Should I work with an online company or local title lender?
Applying for a quick money loan is easy. There are two options available to loan applicants. Some prefer local title lenders. Bring a copy of your most recent paycheck stubs, banking statement, and driver’s license. Complete a loan application, and wait for a quick response. Applications are usually approved on-the-spot after a quick vehicle inspection. Another option is to apply with an online title company. This process is equally simple. However, you will likely need access to a fax machine. This is necessary for providing documentations to the loan company. Once application is received and approved, funds are received. On average deposits take up to 24 hours after the vehicle inspection. However, some lenders offer one-hour or same day cash advance loans.