RV Title Loans
If you own an RV, it probably goes without saying that you treasure getting away from it all every now and then in order to kick back and relax somewhere along the open road.
Unfortunately, unanticipated money problems can quickly rob you of any tranquility whatsoever. It can be impossible to relax when you have looming financial obligations, especially when you don’t have the money to take care of them.
Fortunately, if this sounds familiar, your recreational vehicle may actually be the solution to your problems and, no, you don’t have to sell it.
Countless people have used their beloved vehicles to secure RV title loans for substantial sums, giving them the funds they need during an otherwise difficult time.
What Are RV Title Loans?
Simply put, RV title loans are a form of borrowing in which the owner of a recreational vehicle uses their title as collateral to secure the funds they need.
The amount you receive will depend on the estimated value of your RV. In the event that you cannot pay back your loan, the lender will have to take possession of the vehicle and sell it in order to recoup their funds.
As with any loan, RV title loans come with repayment terms, so you’re not expected to produce a lump sum as is often the case with cash advances. Once the amount is paid back in full, the title is restored to you.
Benefits of RV Title Loans
If you need fast cash and own an RV, here are six reasons to consider using your vehicle to secure the short-term loan you require.
1. Fast Cash and an Easy Process
As we just mentioned, RV title loans are used to secure fast cash, so if you don’t have time to waste on a long, drawn-out process, this is the ideal solution.
Though we’ll cover our specific process in detail momentarily, it couldn’t be simpler.
Again, you don’t have to fill out a lengthy application. Even the inspection of your vehicle only takes a few minutes.
2. Your Credit Score Doesn’t Matter
Again, we’ll delve into this in greater detail in just a moment, but suffice to say, your credit score really doesn’t matter much when applying for RV title loans. This comes as a huge relief to many people who otherwise can’t secure fast cash because they have bad credit (or their credit score is practically nonexistent).
Even if your credit isn’t terrible, many people still spend six months to a year trying to improve their score because of how big of a factor it is when it comes to the loan terms they’re offered. With RV loans, this isn’t the case, so there’s no need for this time-consuming planning phase.
3. You Still Get to Use Your RV
Although RV title loans require the vehicles as collateral, that doesn’t mean you have to give up use of it until you’ve paid what you owe.
In fact, you can continue taking your RV on road trips like you’ve always done. Nothing changes in that regard. As you still have complete position of your vehicle, no one else needs to know you’ve used it to secure a loan, either.
4. It’s More Affordable Than a Cash Advance
When many people immediately need money, they turn to cash advances. To be fair, they’re often the best solution available to them.
However, if you have an RV, you’ll be much better off by using it to secure an RV loan instead. Although it’s also a short-term loan, you’ll have the option of taking longer to pay it back and the terms are generally much more affordable because you’re using collateral.
5. A Predictable Repayment Schedule
RV title loans are easy to pay off because their repayment schedules are so straightforward. Before you actually take out the loan, you’ll know exactly what you owe and when you need to make your payments.
People who get their RV title loans through TFC loans also enjoy the benefit of no prepayment penalty. This means you can repay us as quickly as you like instead of enduring an unnecessarily prolonged process.
6. Use the Money for Whatever You Like
Of course, one of the biggest benefits of RV title loans is that you can spend the money you secure on anything you want. Many people use their loans to pay down their debt or take care of unexpected costs (e.g. medical emergencies).
How to Secure an RV Title Loan
If you’re ready to join the countless number of people who have relied on RV title loans to help them with their financial obligations, it’s time to learn about what’s required in order to secure one. The following step outline the entire process we use here at TFC loans.
1. Prepare the 6 Documents You Need for RV Title Loans
Just like with auto title loans, you’ll need to produce certain documents before you’re able to proceed with securing one for an RV.
- The original title for your RV
- A government-issued ID
- Proof of residence (e.g. a recent utility bill with your name on it)
- Proof of RV insurance
- Proof of income or proof of your ability to repay (e.g. pay stubs or, if you are paid in cash, a letter from your employer)
- Four references
- Pictures of the vehicle
While most people have no problem organizing these documents, please feel free to ask for help if you’re having any problems. For example, we can assist with helping you replace your original title if necessary.
2. Proof of Your Credit Score
Your credit score is always required when attempting to secure a loan.
That being said, they really don’t play a huge role in whether or not you qualify for RV title loans.
We can afford to function as bad credit finance lenders because our borrowers are using their RVs for collateral. So as long as the RV is securing the loan and we have proof you’ll be able to repay the loan, your credit score really isn’t a factor.
If you’ve been turned down for loans in the past because of your credit score or it only earned you extremely unfavorable loan terms, you’ll be excited to learn how much you can receive because of your RV. The vehicle is almost the entire deciding factor regarding what kind of loan amount you’ll be offered.
3. A Picture of the RV
You’ll also need to show picture of your RV. Lenders always need to ensure that vehicles actually exist and are in decent condition before they can provide the owners with title loans. After all, you could still have the title even though you had junked the vehicle long ago. Similarly, if the RV is clearly in terrible shape, it might not be worth much as collateral.
4. An In-Person Inspection
While the pictures of your RV are certainly important, we eventually need to inspect prospective borrowers’ RVs before can offer loans.
Fortunately, we have a number of conveniently located offices throughout the country. While our headquarters is in Los Angeles, you can also find us in the following cities:
- Garden Grove
- San Diego
- San Jose
However, just like applying online for car title loans is legal even if it will be originated in another state, you don’t necessarily need to live in CA, AZ, or NM to secure RV titles loans from us. For example, we’ve had customers from as far away as South Carolina receive fast cash from us as these loans are legal there.
Need Cash Fast?
Now that you better understand how RV title loans work and why they’ve become so popular, consider applying for one today.
It couldn’t be easier, but we are always more than happy to answer any questions you may have before proceeding.