Get Instant Cash With Car Title Loansby Malini Somra Blogger
Car title loans are one of the fastest ways to receive cash when you need funds urgently. A situation may pop up when you need funds as soon as possible. Then a car title loan that guarantees a 24 hours loan processing and fund disbursal is one of the best things you may avail. And these loans are so smooth to avail that much of the hassle of the application process is taken off through online processing.
How to apply for a car title loan
The application to cash in hand process is extremely simplified here.
- You apply for the loan online
- While application you state your car’s details with photos for evaluation of its current value, and you also tell your cash necessity.
- Approval is sent to you via mail upon seeing your income, the car’s state, and your loan requirement.
- On receiving approval you visit the nearest center of the car title loan company to receive the cash in hand, before which your Id proof and car documents are instantly verified.
The process is as simple as that, and you get paid the cash on the same day.
What to ensure to get a car title loan
Here are some of the factors that decide if you would get a loan or not:
- You must show an income proof of minimum $1200 to get the loan. This much of earning assures the lender that you have sound income to pay back the loan on time.
- You must agree to pay back the loan within a fixed tenure of 24 months.
- The car you are using as collateral must be owned by you.
- You will have to ensure that you pay back the loan on time.
- You would need a government Id proof and he car ownership papers
- Sometimes the company may ask you for car insurance papers too
A Car title loan is safe
A car title loan is one of the safest ways to get some instant loan when you don’t want to mortgage other valuables. The car stays with you and you use it freely as you always had. Only the equity of the car is used to get you the money. And you get a full 24 months to pay back the loan is EMIs. A great feature of car title loans is that you are not penalized on prepaying and closing the loan before time. Hence when you have accumulated enough money you may choose to close the loan too.
Another very interesting fact that makes many people choose a car title loan is that, these loans are approved irrespective of your credit history. Whether you defaulted or missed old EMIs of other loans, or whatever the problem was with your credit rating earlier would not interfere with the processing and approval of this loan. Also if you have no credit record at all, then also you can get instant cash by this loan.
Created on May 3rd 2018 05:15. Viewed 146 times.