Articles

Why You Should Choose Car Title Loans Only

by Malini Somra Blogger

We all know how tough it is to get a loan approved. Not to mention the long and hectic loan process that can make sweat even the most confident loan applicant. There is nothing wrong in traditional bank’s approach because they never leave any stone unturned to check whether the loan applicant is capable of repaying the loan or not. Even if the bank has slightest of doubt about the repaying capability of the borrower the loan application is mostly declined. Also banks have fixed protocols which they have to follow in order to make sure that the loan doesn’t turn into a bad loan. These are some of the reasons why banks adhere to long list of checks before sanctioning the loan. 

There is nothing wrong in banks following their strict procedure because they are just sticking to their norms but this long duration in sanctioning the loan can prove to be the toughest hurdle for people who are looking for a quick cash to tackle emergency situation. There are times when people fall into troublesome situation and require quick cash all of a sudden to get out of it. But for banks the circumstances doesn’t matter and this makes them unfit to apply for the loan. Now arises the question which many of the people don’t know the answer of. If not banks then where to apply for the loan? Which medium can provide quick cash in emergency, if not banks?

Well the answer is very simple and there is nothing much to think about. Auto title loan is the answer that is helping people from more than four decades to get quick cash in emergency situation. The whole loan process of the car title loans los angeles is so simple that if all the details provided by the borrower is correct then the loan is sanctioned the same day. 

Some of the features of auto title loans that clearly describes why you should apply for this loan type only in emergency situation: 

Easy to apply: The borrower just have to fill in the details in the form about the make and model, odometer reading, insurance detail, car title detail, personal details like address, income stub, government issued identity and name of some references. There is no additional information required other than these. 

Quick loan approval process: If all the details furnished by the loan applicant then the loan is sanctioned the same day. Because the loan is dependent on the title of the vehicle which is kept as collateral by the lender there is no rigorous check done by the lender. 

No need of credit score: Even if the borrower has bad credit then also he/she can apply for the car title loan. This is because the auto title loan is only related to the title of the vehicle that is kept as collateral by the lender. If the borrower fails to pay the loan on time the lender puts the vehicle on sale and recovers the loan amount.  So there is no need for the credit check of the borrower. 

Good loan amount: The loan amount is dependent on the condition of the vehicle and if the vehicle condition is excellent the borrower can get the maximum loan amount of up to $50,000. This loan amount is quite enough to tackle any kind of cash crunch situation.

Beside this the borrower can drive the car like before because the lender doesn’t possesses the vehicle.


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About Malini Somra Innovator   Blogger

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Joined APSense since, January 18th, 2017, From Delhi, India.

Created on Oct 3rd 2018 02:34. Viewed 373 times.

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