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14 Mar 2019   /   0 comments

10 Tips on Getting a Car Title Loan


pencil shavinAre you in need of money? Of course, you will probably answer yes. Who doesn’t need money, especially when we all have an unexpected expense that pops up here and there. In such a situation and you are short of cash, borrowing money can be your next option. Do you think you have relatives around? What if they can’t lend you money? If you have a bad credit score, a loan from the bank may not be an option. In a situation like this, fret no more as you can easily have access to secure cash using your car title for getting a car title loan.

Are you new to this? If yes, then this article is for you. You can get a lot of facts about the TFC Title Loans, as well as some of the answers to our most commonly asked questions about getting a car title loan.

1. Use Your Vehicle Title as Collateral

Ever heard of the using an item as collateral for a loan? This is precisely how it works. But in this case, the title of your vehicle will be used as a guarantee, and you will be able to borrow an amount of money from TFC Title Loans based on the value of your car. You will get your car title back once the loan is paid off. Until then, TFC Title Loans will become the lien holder of your car.

We don’t take your car when the car title is used as collateral. You will still drive and use it as usual for the duration of the loan. The title will just be with us until the loan balance is paid off in full.

Moreover, TFC Title Loans has not restricted to cars alone, as you can make use of any other vehicles such as SUVs, motorcycles, and motor homes as collateral.

Are you still paying for your car? Or, have you used the car as collateral in another company? No problem! You can still use the car title to borrow from our company as long as there is enough equity in your car. In fact, TFC Title Loans is willing to accommodate you even if you have a title loan with another lender or company. TFC knows that each borrower has a unique situation. Just let us know at TFC Title Loans what your problem is, and we will know how to handle your case.

2. Better Interest Rates with TFC Title Loans

Different auto title loan lenders have different interest rates for auto title-backed loans. At TFC Title Loans, we will give you a monthly interest rate and an APR, just like in any other type of loans. We personalize every interest rate for the needs and lifestyle of our customers.

3. TFC Title Loans Can Give You $2,500 to $50,000

The amount of money you can borrow will depend on the value of your car and your ability to pay back the loan. At TFC Title Loans, we will first assess your car and value it.

We will offer up to 50% of the wholesale value of your vehicle, and we can offer more or less depending on your ability to pay back the loan every month. We will try to give you the most amount for your vehicle, and we will offer you the most competitive rates. Looking on the Kelley Blue Book for reference can be a great place to start in order to estimate how much money you’ll get from TFC Title Loans.

If you own a vehicle with a wholesale value of $4,000 (CA Residents), $2,000 (AZ & NM Residents), you already qualify for a car title loan. All you have to do is use your vehicle’s title (pink slip) as collateral. Customers can receive funding starting from $2,500 (in CA), $1,000 (in AZ) and up to $50,000. We have flexible payback terms ranging from 24 to 36 months, which allows you enough time to pay back your loan.

4. Longer Loan Terms with TFC

Getting a car title loan ranges from 24 months to 36 months depending on the year, make, and model of your car. All of our title loans have no prepayment penalties so that you can pay off your title loan as early as you’d like.

5. Don’t Worry About Your Credit Score

Here at TFC Title Loans, we do require credit checks, but we only use it to ensure you aren’t actively going through bankruptcy or credit counseling. What is important to us is that you can show that you can repay your loan with us. We will not put you into a loan that your income does not support. Even if your car will qualify for a more substantial amount, but your income will not help it, we will not give you the amount that you are unable to pay getting a car title loan.

6. Communication is Key

Our account servicing team is here to help you make your payments on time. If you need to make additional arrangements or need more time to make your payment, we are here to work with you and help you.

We encourage all of our clients to make the payments on time because you will pay more interest and late fees the later your payment is received by us.

If you are unable to pay, we will try to make arrangements to find another lender or to trade your car in so that you do not have to give the car back to us.

Repossessions do happen, and we always try to work with our clients once the car has been picked up to try and get them back in the deal or to see if another company will purchase the car or do another loan. Repossessing a car is the last option in the book for TFC.

7. Applying with TFC is Fast

Get in touch with us here and let us know that you are interested in using the title of your vehicle for getting a car title loan. You may be asked to fill out an online form or have an appointment with us. Appraisal of your vehicle follows.

We will later make an offer based on our assessment of your vehicle. With your agreement of our terms and signing the contract, we will either issue you a check or transfer the money to your bank account.

We will give you a copy of the contract containing all the necessary information about the loan. Details in the contract will include the loan amount and duration, interest rate, additional fees, and penalties you could receive if your loan is paid late. Make sure you understand the fine print before signing on the deal.

Customers have three different ways of getting a car title loan: via our online submission form, through the phone when you call our toll-free number or by going into a TFC Title Loan location nearest to you. Once we receive your application, we will contact you to ask for documentation to verify your information and finalize your loan. Finally, you can pick up your funds at the nearest location to you. Find out more on our page on how title loans work.

8. Pay Off Before the Due Date

Yes, of course, you can. With no prepayment penalties, it allows you to pay off your title loan whenever you have the money. We always encourage our clients to pay off their title loan as soon as they can, or if they can make principal payments that will also lower the amount owed. It’s all in the fine print, so make sure that you read and understand the terms before signing the agreement with us. If any areas are not clear to you, don’t hesitate to clarify them with us.

9. Pros are Greater than Cons

A loan that’s backed by the title of your vehicle is fast, comfortable, and convenient. Getting a car title loan is best for you if you need cash immediately. The only risk involved in this kind of loan is losing your car if you fail to make your payments. With TFC, you can be sure that we work with you as much as we can to prevent any consequences from occurring.

10. TFC is a Great Lender

Getting a car title loan is all about doing a lot of research and being observant. First, find out how established a company is and if they have a good reputation or not. Second, be vigilant on how they interact with you. Are they genuinely concerned about providing a solution for you? Yes, you need the money, and they’re in the business to earn, but a right lender should be more inclined to help you out. TFC cares about their customers and puts the effort into them to get them the money they need. We pride ourselves on our services, and with TFC, you know you’ll be in the right hands. We’ve been in the car title loan business for over 20 years!

TFC Title Loans has the experience to help you get the emergency money that you need. Our corporate headquarters are based in downtown Los Angeles, but we have many locations throughout California, Arizona, and New Mexico.

We understand that when you need your emergency money, it can be a very stressful process. If your car has been impounded or is in the body shop, or you have an emergency debt bill or a home repair bill, we will help you with whatever your situation may be. With our skilled sales team, we can help you through this stressful time and schedule an appointment at your nearest location.

Our funding process is fast and efficient, so we can get you your money in as little as one business day. We can get you approved over the phone or online instantly. Our title loan process does not only do speedy funding, but we also offer you no prepayment penalties. So, you can get the loan today, and you can pay it off tomorrow, and you will only be charged the interest discussed at your originally signing of the contract. No gimmicks or hassles!

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