What exactly are Car Title Loans?
A car title loan is a type of personal loan that lets you borrow cash against your vehicle as collateral. Your credit score doesn’t matter, either — all you need to qualify is a current registration and license plate for your automobile. You can borrow the money you need to cover whatever expenses you might have, such as medical bills, home repairs, and so on. Financial stress is one of those burdens that are not easy to talk about, but everyone is too prevalent in society today. And with a car title loan, you can finally free yourself from it. Read on to find out what a car title loan is and how it can give you the financial relief you deserve.
What makes car title loans so great is that they offer quick and easy cash in a pinch. The application process is very simple and once approved, you receive your loan in just a few days — no more waiting for weeks at a time like with other types of loans.
How much do Car Title Loans cost?
On average, car title loans cost between 8-14% APR. While that’s not the lowest rate on the market, it’s still very affordable and gives you the ease of mind knowing you can get fast cash with no credit checks or bankruptcy filings.
What are the requirements for car title loans?
There are just three key elements for a car title loan. First, you need to have a car that’s basically in good working order. Second, you must be able to prove ownership of your vehicle. Finally, you need to be at least 18 years old with verifiable identification.
Can I get car title loans on used cars?
Whether you’re worried about the cost of buying a car, having an unreliable car, or simply want to get rid of your old vehicle, it’s totally feasible to get a title loan for used cars. Though the interest rates are slightly lower than for brand-new cars, nothing can stop you from getting your cash when you need it!
How do I apply for a Car Title Loan?
Applying for a car title loan is also very easy. All you have to do is complete the online application process. You’ll be able to find it by just going to the home page of this site and clicking the big green button that says “APPLY NOW”.
The process to apply for the loan is below-
-
Fill in the online application form.
-
Submit the list of documents required to get the car title loan. The list of documents includes the following-
- Lien free vehicle
- Proof of permanent residency in Canada
- Proof of legal age
- Valid Canadian driving license
- Proof of registration and insurance of the vehicle under your name
- The second set of keys to your car required at the time of inspection
- A fully paid vehicle, not older than 10 years.
- After filling the application form and submitting the list of documents, our experts will get back to you to discuss the loan amount.
What can I use a title loan for?
Anything you want! Car title loans are versatile enough to help you with just about anything from personal reasons to business investments. You can spend your money on whatever you’d like, whether that’s helping yourself or someone else in need. Remember: lending and repayment are fair and transparent — make sure you pay back your loan on time and accept interest rates and fees as they come.
How do I get started with a car title loan?
Getting started is easy — all it takes is a few minutes of your time and some basic information. Simply fill out the online application and we’ll be back in touch shortly to review your application and process your loan.
How do I get cash if my car is repossessed?
If your vehicle is repossessed, then you’ll need to look into alternative financing options such as a dealership loan or a personal loan. Recently, many people have been using their credit cards to arrange these types of loans, but this isn’t the only way you can get cash quickly — you can always check with a local lender for more options.
Benefits Of A Title Loan
-
Get Cash When You Need It Most
With a car title loan, you can get cash quickly when an emergency hits. Whether it’s the urgent need to pay for home repairs or to save your credit after some unexpected medical costs, a car title loan will give you some breathing room in no time.
-
You Know You’ll Get Approved Immediately
One of the biggest benefits of getting a car title loan is that you can get approved immediately. With other kinds of loans, it often takes weeks to know whether you’ll be approved — not with us! Our online application makes it very simple for us to review your qualifications and get back to you right away.
-
You Don’t Have to Worry About the Credit Bureaus
Even if you have bad credit, it doesn’t matter with a car title loan. We don’t look at your FICO score or pull your credit report. If you have a car and can prove ownership of it, then you qualify for a loan!
-
You Can Repay Your Loan Anytime You Want
We know that sometimes the unexpected happens and it becomes difficult to pay back your loan on time. That’s why we’re proud to offer flexible payment plans that let you repay your loan any time you need help.
-
Once You Get Your Title Loan, You Could Make An Investment
Once you’re approved for a car title loan, it could be the perfect opportunity to get some extra cash for investing in your vehicle. You can get a personal loan or even get your vehicle ready for resale with the right choices of repairs! If you are using the loan to repair your car, why not check out our How To Re-sell My Car? article? It has some great advice on how to sell your car!
-
Our Loans Are Fair and Transparent
When you get a title loan, you have to pay interest of 8-14% APR. That’s fair, right? We understand that you don’t want to pay interest for the money you don’t need, so we try very hard to make our interest rates as low as possible. If the price of the loan isn’t fair, you can easily contact us and we’ll take a look at it.
-
The Application Process Is Simple
Just submit your information online and a few days later a loan specialist will review your application and send you a loan offer. It’s simple!
Car Title loans are one of the best sources of cash in an emergency. The best thing is, you can get it even if you don’t have good credit! If you need some quick cash, find out how much you could get in your state today by filling out our easy online application. For more help with the same, get in touch with Pit Shop Loans and get the best help. For more information, call us at toll-free 1-800-514-9399 and get the best guidance from our experts on the same.
