Since life is full of uncertainties, it is almost impossible to live the life of your dreams to the fullest without running into some financial challenges due to unexpected occurrences, especially when you are running a business or an employee.
The good news, however, is that when time go tough and you find yourself desperately in need of financial support, you have a way of quickly raising a significant amount of emergency cash as long as you have a car of your own.
A car title loan is the solution in such desperate times of urgent cash needs, and to get an auto title loan, you basically just have to walk up to any car title loan lending company near you to apply for a car title loan. You also have the liberty of doing a completely online title loan application or apply for an auto title loan over the phone, depending on which title loan application option you find most convenient.
Car title loans are the ideal cash support option for getting an emergency cash loan in the shortest possible time. By simply offering your car title or pink slip (which has to be in your name) as collateral, you have the opportunity of getting the instant funds you need, saving you from impending financial embarrassment and also help you settle in and grow your business.
Now, it’s not just about getting a car title loan. You need to understand all there is to know about car title loans and how title loans work.
There are also a few tips you need to know about car title loans before you decide to apply and below are 10 important things you should do when applying for a car title loan.
No doubts there are hundreds of auto title loan lenders available online and in almost every location in America. As these lenders differ in policies, so will the experience you get from them. This is why it is necessary you pick out the best car title loan lender near you. The sure way you can find the title loan lender that can offer you the best title loan experience is by conducting a thorough research on all the title loan lenders you can find.
Some title loan agencies have a reputation of offering the best title loan experience, some are known for their low and affordable interest rates, while others have amazing reviews from customer due to the quality title loan customer services they offer. Some title loan lenders have simple application process and get you approved without delay, while others offer more flexible payment plan.
When applying for a car title loan, it is important you pay close attention to these details and choose a 5-star title loan lender that has a perfect blend of all these great qualities and can still offer you a top quality car title loan that will suit your needs and also perfectly fit into your financial plans.
Based on how an auto title cash advance works, the car title loan application process is designed to be very simple and stress-free. Usually not more than 5 minutes if you choose to apply for the title loan online. A car title cash advance is also characterized by a fast approval rate, usually on the same day of application in an hour or less. This application process is however not the same with all title loan agencies, and you need to know how a title loan lender operates before you apply.
In getting a title loan, there are some simple requirements and documents that that you must meet and provide. While these title loan requirements are not complex, as compared to conventional loans from banks, you need to have a comprehensive knowledge of all the documents and paperwork that you will need when applying for a car title loan.
Getting a traditional personal loan from your bank ultimately requires that you have a decent credit before you can even qualify, but the car title loan is build to offer emergency money loans to people with all types of credit; good, poor or bad credit. for most title loan agencies, the terms and conditions differ across the different credit statuses. It is your duty to find out what your credit score is and inquire how the score will affect the car title loan you will get.
Not every detail of the title loan contract terms are written in fine prints. In fact, most lenders are smart enough hide vital information in the title loan agreement, and if you are not careful enough to calmly read through and digest the agreement terms, you could miss out on tiny details that would eventually leave you trapped, and even worst, leave you in a cycle of debts. Not paying attention to the information in the title loan agreement document could leave you facing difficulty in paying off the loan.
Information like; the title loan interest rate and how it is calculated, the terms and conditions binding the agreement, what will happen if peradventure you fail to meet up the monthly payment, charges/fees or penalties and how it could be incurred, the repossession policy, etc. knowledge of these details will properly guide and equip you when deciding to get a car title loan.
It is also important that you find out how you are to make the regular payments monthly.Just like conventional loans from banks or any other form of cash advance, how you are to pay up the loan and if the payment option will be convenient to you matters a lot. While there are several methods of making your title loan payments every month, some title loan lenders could be specific on which option you must adapt.
While some auto title loan agencies will prefer you make direct payments at their office, others might prefer the monthly sum deducted from your paycheck automatically. You must be sure that the payment option of your choice lender will not be of any inconvenience to you.
This is another vital thing you have to be aware of when applying for a car title loan. you must ask the question; is the loan duration long? Is it short? How many months do I have to repay the loan? Answers to these questions will shape your title loan decision.
Not forgetting that if the loan is to last for a longer period, the monthly payment will be lower, and if it is to last for only a short time, then you will pay more monthly. And since the title loan rate is also somehow a factor that determined by how long the loan will last, you need to be certain that your decision will put you further into more financial mess.
Don’t get too comfortable and carried away by how nice the title loan deal might be. Always do your best not to cut corners or make any decision that would leave you stranded under the hammer of the law. if you find any part of the title loan process a little unclear or confusing, ask questions. Get a lawyer if necessary. Do everything within your power to go through the title loan process hitch-free, keeping it 100% legit.
You wouldn’t want a situation where you discover after you might have signed off the title loan agreement, you realize that payment would be a problem for you, simply because you choose to act out of instinct without proper guidance or legal advice.
Some auto title loan companies are quiet selective of the type and age of cars or vehicle they accept. The reason is because, since you are borrowing based on the value of the car, your car must be worth something significant. While some car title loan companies are willing to get you funded with a car that is over 10 year old or a car whose mileage is north of 150,000, other lenders could choose to fund only newer models of cars.
Before you even begin to file a formal car title loan application, find out first if your car can qualify you based on its current market value.
The fact that you are in a financial fix and seek urgent cash assistance does not mean that you must lose your car and live life in discomfort. Don’t forget that with a car title loan, the collateral is not directly your car, but the paper that declares you as the owner of the car. Approach only title loan lenders that offer you a car title loan without letting you give up your car.
The beauty of a car title loan is the fact that you get that cash your urgently need for critical situations or to grow your business and still keep your car while you make payments to service the loan.
Getting a 100% title loan company might be farfetched, but getting a decent car title loan company with the best title loan package that will suit you is very easy. All you need to do is simple; be smart and choose wisely. Find a lender that can get you what you want, at an affordable rate, and also give room for further negotiation when necessary so that you get the perfect car title loan that will suit your specific financial situation.
With a car title loan, you can jump-start that business idea, take care of urgent financial necessities and also get your business running. While the benefits of getting a car title loan are quite overwhelming, remember these 10 important tips when applying for a car title loan and even before you decide to get the loan to avoid a classic case of misguided financial decision that could land you in deeper financial mess.
If you follow these 10 tips when applying for a car title loan, you would eventually find one title loan lender that can offer you the best quality title loan that will not only ease your way through that pressing financial challenge, but will also suit your specific financial situation.
TFC Title Loan is a premier car title loan company with locations conveniently situated in several states in the US, including; New Mexico, Florida, Texas and all the various counties of California. At TFC Title Loan, you will get a loan against the value you have in your car at an affordable interest rate and a conveniently longer period of about 24 to 36 months to pay off the loan.
Bad credit is never an issue when applying for a car title loan at TFC Title Loans. While having a good credit is okay, you will still get a car title loan with us even with a bad credit. We work with people with bad credit all the time, and we can definitely work with you – bad credit or not.
Our monthly payments are lower, affordable and flexible. We make paying off your title loan very easy and convenient with no hidden charges or prepayment penalties whatsoever. We also do not ask you for an extra pair of keys, rather, we let you continue to drive drive your car as you make the regular payments.
We are registered and authorized by the DBO with an easy-to-understand agreement contract. And if you find any part of the terms of agreement quite difficult to digest, we will assign one of our title loan reps to assist you all the way. So if you’re thinking about getting a car title loan, and want to apply for one, come to TFC Title Loans today.