Wondering how to get a signature loan? Also referred to as personal loans, signature loans are unsecured in that they don’t require any form of collateral such as home equity or a car title. Essentially, the bank will loan you the money with just your signature Depending on the type of lending institution or bank, signature loans are generally available for amounts ranging from $500 to $20,000.
Consumers typically use signature loans for home improvements, unexpected expenses, vacations and holidays, major purchases, and debt consolidation, and most signature loans have fixed rates and fixed terms which vary widely depending on the lending institution. Keep in mind that if you have poor credit or no credit, you might need to find a co-borrower or co-signer. If you default on the loan and fail to make payments, the co-signer will also be held responsible for repaying the loan.
There are a lot of loan options available from title pawns, home loans, auto loans, etc. Google each loan to see the requirements and find alternatives to costly payday loans (see https://loans.usnews.com/alternatives-to-costly-payday-loans). Once you’ve made the decision to get a signature loan, it’s time to start shopping around. Credit unions and banks offer loans, and those should be your first stop. Start by calling your own bank as some institutions offer better rates for members. You can also find out their terms so you have a ballpark idea of what to expect from other banks and credit unions.
Keep in mind that you should never put in an application until you’ve decided on a lender. While you will not be able to get an exact rate until you apply, when you do so, the lender will check your credit score, and each inquiry could result in a lower FICO credit score. While the credit bureaus do allow for 30 days of “shopping” for rates, the next bank might see that lowering your credit score, and so on. The result? The lower your score, the worse the rates are that you will see.
Your vehicle is the major requirement, the vehicle along with its equity will be assessed by our expert staff to determine if it qualified to stand as collateral for the amount you requested for. The resale value of your car will determine how much you can get from us. However, you won’t need to park your car with us. Once we’ve determined the amount you qualify for and finalize the loan deal immediately, you can drive away your car.
Our offices are located in different cities in many states in the United State, you must ensure that your car is registered in the city where you are applying for the loan, the car must be free from any lien and you must have completed the payment of the car.
Proof of Identity
To prove that you are resident of the city where you are applying for the loan, you must provide your full address, contacting number, utility bill of the house as well as your identity card issued by the government such identity card include passport, driver’s license.
Proof of Auto Insurance
Since we are not requesting that you should park your car with us, we should at least be sure that we are secured during the loan period. Proof to show that you insured your vehicle is enough to put our mind at rest should the car involve in an accident during the loan period or in case of theft or other issues.
Proof of Income
Your source of income is important to us before we give you any loan, we must be sure that you are capable of refunding the money without any hassle. We don’t save you from a mess to put you into another mess so; we consider your source of income while determining your repayment option. For instance, if your income is $100 per month and we ask you to refund $150 per month, this might be difficult for you to do and you might end up losing your collateral.
How to get a Signature Loan Without a Bank Account
You don’t need a bank account to be approved for an auto title loan with TFC Title Loans. However, on a few occasions, you may be asked to provide your account information but we only as such is when you don’t have any other way to prove your income. In some cases when you’re self-employed or don’t have a traditional source of income, a bank account verifies that you do receive an income. We plan your repayment plan taking into consideration your source of income. Obviously, you will understand better why we need to be ascertained of your income flow. If you have pay stubs or checks from your employment, then you don’t need to worry about providing a bank account.
A bank account isn’t required to receive your funds or pay your loan. When you are approved and have signed your loan agreement, TFC will provide you your money in your hand or you can pick it up at Western Union or Money Gram.
When you have to make your monthly payment for your loan, there are many different ways to pay your balance. If you prefer to pay with prepaid cards or cash, you can:
Maybe you once tried or probably you are fed up with some bank charges or bank hours seems to be inconvenient for you or you don’t trust banks after the Recession or don’t want others to know how much you have. A bank account is arguably essential in our time. Apart from the fact that your money being considered safe in the bank backed by the FDIC, it makes managing your finances a lot easier and also assists you in creating a viable budget as you can easily have access to what you have in your bank statement. Just one bank account can enhance your money’s safety because you don’t have to receive your payment by hand and you grow a very small interest.
As technology advance, numerous are the benefits of operating bank accounts, we can mention all but we will like to touch a few of the advantages. It includes:
How to Apply Without a Bank Account
As long as you have a vehicle with a clear and free title, you can apply for an auto title loan. By using the title of your car as collateral, your credit score or bank account access does not matter to TFC. It doesn’t affect your qualification or loan amount. We base your loan and the approval on your car value and your ability to repay the loan. You could get anywhere from $2,500 to $50,000 with the title of your car. Then, you can have anywhere from 24 to 36 months to pay off your loan.
With our application, you could have your funds in as little as one business day. To start, all you have to do is apply online or call TFC to have a representative help you. Once you’ve submitted the application, a TFC representative will call you to discuss your loan amount, the terms, and to collect all your required documents. After your documents have been received and approved, you head over to the nearest TFC store or signing location to sign your loan agreement and collect your money.
To prepare you for the documents you will need, we’ve provided a list for you. Then, you’ll be prepared for the call from your representative and you can get your money as quick as possible. As earlier mentioned, the following documents will be needed to approve your loan:
The aim of every business person is profit but TFC Title Loans belongs to the categories of few companies that put humanity first before profit. TFC Title Loans isn’t just a loan company established for just profit sake; our core intention is to help as many people as we can in their difficult time. Our popularity in the loan business can be accredited to our low-interest rates, flexible loan, simple application process, unbeatable terms, great customer service, and long-term repayment plans.
Great Customer Service
Great customer service is one of the reasons why we are rated far above our competitors. Our staff is well trained and they render the best of services to our clients. They are always available in person and on phone to answer your calls. They treat each customer as personable Furthermore, they are always discreet about customers’ information and they treated them confidentially as much as they can. Customer satisfaction is our utmost priority. We evaluate every situation and will make the best recommendation to make sure our customers don’t put themselves in a position to lose their collateral.
How much you can get through a car title loan depends on the value of your car, however, most lenders will try as much as possible to be on a safer side so most of them will borrow you 30 to 50% of your car resale value. At TFC Title Loans, we are completely different; we usually take a high financial risk to satisfy our customers. We will offer you up to 85% of your car value as oppose 30-50% offered by other companies and you can get up to $50,000 depending on the value of your car.
Keep and Drive Your Vehicle
While your car is used as collateral for a loan, you are still in possession of it and can use it without any restriction. TFC Title Loans offers you a loan without creating any havoc to your lifestyle.
No Hidden Fees, No Prepayment Penalties
We don’t take advantage of our customers; we work in accordance with the law that guides car title loan in every state where our offices exist. We make sure our customers read and understand what they are signing before signing any loan contract with us. Every detail of the loan will be included in the drafted loan deal and no additional payment will be requested outside what they signed as long as they keep to the loan terms and conditions which majorly repayment at the appropriate time.
You Only Pay the Interest for The Time the Money Is Borrowed
This is one of the reasons why we are different. If you are able to return all the money in a time lesser than the agreed time, you only pay the interest for the time the money is borrowed.
Now, you can try and apply and see if you qualify for a title loan!