Are your bills becoming due and your paycheck is not coming on time or have you found yourself in an emergency situation but you do not have readily available cash in your account to sort it out? Well, when you have unexpected expenses, you are likely to get irritated, pressured and may not even know where to get the required help.
At this state of your life turning to car title loan is the best option that can help you out of your financial mess even if you do not have any saving, asset or a good credit rating. Car title loans gives a loan without checking your credit rating, all you need is to exchange the clear title for the fund you need.
Car title loans are gaining more popularity in today’s lending system because they offer quicker and simpler solutions in the case of severe financial emergencies. Getting a car title loan is quite easy as we have many lending companies that offer feasible and excellent services at very reasonable rates. However, it is of high importance you compare the different rates and features of different lending companies to get the best deal.
You also need to ensure that while you seek to get the loan you check out the website of the lending company to get the details of the services offered by the company. Visiting the testimonial page of the company also enables you to know if the company is reliable and meets the needs and requirements of their clients satisfactorily.
Once you make your decision on the company for applying the car title loan, you are expected to provide all the necessary documents that are needed to process the loan application. There are some basic requirements that are essential to be submitted before your loan can get approval.
The documents include: the title certificate of the car, a valid driver’s license, proof of residency, government issued ID card or any social security, an existing account detail with a current utility billing. Currently, this procedure will take at lest 20minutes to complete the processing.
The car title loan process is quick and you will get the cash within few minutes of application. It has no stressful formality and long process involved in traditional loans. The borrower should be minimum of 18years of age to qualify.
You need not bother about your account history to get your loan approved as you will get an instant response from the loan company. The limits of the loan given might vary from company to company and it solely depends on the wholesale value of your car, working condition and the age of the car.
Some companies also check if the car has a clear record and without issues. The borrower should have a solid payment plan before opting for a car title loan as he stands a risk of loosing his car of he does not pay up the loan as scheduled. This may further damage the credit rating of the borrower.