Thousands of borrowers across the United States choose auto title loans as a borrowing option to get the fast cash they need! Loan options like ChoiceCash Title Loans can get the money in your hands in as little as one business day.1
When you’re searching for the right places that do title loans, there are many different options out there both in-person and online. So, what makes a title loan place the right one to go to?
The right option can offer:
- Competitive Interest Rates
- Longer Loan Terms
- And Fast Cash!
Before signing your loan, it is important to choose a loan option that is beneficial for your finances now, and in the future.
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What is an Auto Title Loan?
When you’re in the middle of a financial crisis, you need a loan that is designed to be an emergency solution.
Auto title loans were created to be an alternative loan option for borrowers stuck in a financial emergency and who need fast cash. Title loans can allow borrowers to access secure funding through their vehicle’s title instead of their credit history. With a title loan, you are essentially borrowing off your vehicle’s available equity and turning it into the fast cash you need!
Equity is just the difference between what you owe on the car and what the car’s market value is. The more equity your vehicle has, the more there is to borrow from. Since collateral is used to secure the loan, the entire approval process becomes flexible and streamlined for borrowers like you in an emergency.1
A car title loan can allow you to keep your car while you make your loan payments! While you are using your vehicle’s title to secure the loan, if you keep your loan account in good standing, you may keep your keys and drive your car while it is business as usual.1
How Do I Find the Right Places that Do Title Loans?
Not all title loan options are created equal. Take a look at some of the red flags to watch out for when searching for a title loan online:
- Years in the Business: Often, crooked lenders will reopen their business down the street with a different address once they have been reprimanded for shady business practices. Look at how long your loan option has been in business before applying!
- Interest Rates: Interest is the most important part of the loan. Interest is the cost of borrowing money, and high-interest rates can make the repayment process difficult or even keep you in a cycle of debt. Look for places that do title loans with competitive interest rates that won’t be hard on your wallet or financial future.
- Length of the Loan: Some title loans may only offer short-term loans, which are typically anywhere between 30-90 days. For borrowers that are trying to get back on their feet, this is often not enough time.
Luckily, loan options like ChoiceCash Title Loans can offer a longer repayment period and competitive interest rates for qualified borrowers that need it!1 It can be easier than you think to find a loan option with the right features of a loan and years of experience helping people get the cash they need.1
Will My Vehicle Qualify for Most Places that Do Title Loans?
Your vehicle is the most important part of the approval process. To qualify for a title loan, your car must have enough equity, and the vehicle title must be in your name.
But if you are like most borrowers, you likely do not know what your vehicle’s equity is off the top of your head. Fortunately, ChoiceCash Title Loans has an online title loan calculator that can give you both an estimate of your vehicle’s equity and a free title loan quote all at once!1
To use the online title loan calculator, you will simply need to answer a few questions about your car. These questions include this information about your vehicle:
- The Make, Model, and Year of the Car
- The Style of the Car
- The Mileage on the Odometer
- The Current Condition of the Vehicle
- The Vin #
This information can help a loan agent determine what your vehicle’s equity is, and how much you will be able to potentially borrow through a title loan! The best part is that it can take just a few minutes to do, and you could get your cash in as little as one business day.1
Do I Need Perfect Credit to Apply for a Car Title Loan?
If your credit is less than perfect, it can be difficult to apply for many types of bank loans or personal loans. You’ve likely been turned down for cash from a bank before if you have applied for a traditional loan without the best credit history.
A title loan, however, does not require a borrower to have perfect credit. While your credit history may be considered during the approval process, the value of your car and your income will matter the most.
Title loans were created to be an alternative loan option for borrowers from all different kinds of financial backgrounds, including credit histories. Poor credit history may not prevent you from qualifying for the cash you need!1
Title loans are a secured personal loan that requires collateral to qualify. The collateral will lessen the risk to lend to you if your credit history is not up to par. Even if you are not confident with your credit, you may still be able to qualify for a car title loan.1
What is the Approval Process Like for Most Places That Do Title Loans?
When you think of applying for a loan, you may think of what a hassle it is to get the cash you’re looking for. A title loan with ChoiceCash Title Loans can be anything but a hassle, however!1
With ChoiceCash Title Loans, the approval process has been streamlined to assist borrowers in a financial emergency.1 Take advantage of the fast, three-step process when you apply for funds today:
- Submit a Loan Inquiry: Borrowers can choose to do this online, or over the phone with a representative at (855) 914-2945. To get started, a borrower will simply need to answer a few questions about their income, car, and personal information. It can take just a few minutes to complete this quick form!1
- Send in a Few Documents: A couple of documents are needed when you apply for a title loan online. These documents can help verify your information and speed the approval process along! For your convenience, these can be submitted online via email or even fax. You will need to have these documents handy:
- Proof of Income: Your income is crucial for several aspects of the loan! It can determine what your loan amount is and is used to help determine your monthly payment. While alternative income is accepted, many borrowers use their pay stubs or bank statements to prove their income.
- Proof of Address: The easiest documents to prove your address are often a recent credit card statement/ utility bill, but a rental agreement or house deed can also be used.
- Car Title: To be submitted, the car title must be in your name.
- Photos of the Car: Did you know you can skip an in-person inspection by simply submitting a few photos of your car? ChoiceCash Title Loans can allow borrowers to skip the hassle of an in-person inspection by simply submitting a few photos of their car and odometer.
- Photo ID: Your passport, driver’s license, or other government/state-issued photo ID can be used.
- Get Approved and Get Your Cash:1Once a loan agent has checked out your documents and verified your information, the last step is to see if you qualify!Qualified borrowers can get their cash with ChoiceCash Title Loans in as little as one business day once they have signed their loan agreement.1
With just these three steps, you can easily find out if you and your vehicle qualify for cash today!1
Where Can I Apply for a Car Title Loan Online?
Ready to find the right places that do title loans? ChoiceCash Title Loans has your back when you are tired of living paycheck to paycheck and need to solve your financial woes.1 Get started on your loan today by filling out a short inquiry form online. Or feel free to get a personalized approval process when you call a loan representative today at (855) 914-2945.