3 Surprising Facts About Fast Cash Loans Using Car Title For Collateral
Fast cash loans are the sort of financial tool that you might be looking for when you’re having an emergency expense that needs to be covered but you don't quite have the cash to deal with it.
There are several forms of fast cash loans. One of the most popular of these is auto title loans. This type of loan has several benefits, and we selected the biggest three to talk about in detail. This way you can decide whether they are the right option for you.
3 Surprising Facts About Auto Title Loans
Auto loans allow you to borrow cash against the title of your vehicle. The amount that you can borrow is based on the value of your vehicle.
By qualifying for this type of fast cash loans, you’re essentially using your car title as collateral for the loan. This means that the loan is secured against the title. This has a number of advantages:
1. Auto Title Loans Are Really Are Fast
When we say that auto title loans are fast, we genuinely mean that they are blisteringly fast. In most cases, you can get through the in-person inquiry process for a car title loan in as little as 30-60 minutes.
You can then receive the money that you need to cover emergency expenses as soon as the same day or the following business day! That’s why people consider using their car title as collateral when acquiring fast cash loans. This allows them to cover emergency expenses there and then.
2. All Credit Types Are Welcome
If you head to a traditional bank, they are going to be focusing on your credit history. This will include details on how much credit you have available, and more importantly whether you have a habit of paying bills on time. This is because the traditional banks are taking a risk when they are lending you cash with no collateral.
When a loan is secured against your vehicle's title, your credit score isn’t as relevant. This means that you have a chance to be approved for a title loan, even if you do not have the greatest history ever.
At Utah Title Loans, Inc., we welcome all types of credit, even if your credit score is low. This means that you can qualify for a title loan, even if you have a few missed payments to your name. In fact, this is one of the main reasons why car title loans are popular among those that need emergency cash.
3. You Don't Need To Be Employed
You do not need to have a job or provide proof of income to gain access to an online title loan from Utah Title Loans, Inc. We will not ask for your employment history at all. Again, this is one of the perks of this being a secured loan.
This is why people that are currently receiving benefits or are temporarily unemployed may see a title loan as an option. Of course, you should think about how you plan to pay your title loan back. But it is up to you to determine the income source you will use. We aren't going to ask you for the details.
What’s The Process For Getting An Auto Title Loan?
If you are interested in using your car title for collateral, you’ll find that at Utah Title Loans, Inc., we offer title loans of a value between $300 and $15,000. Of course, the amount that you can borrow will be dependent on the value of your vehicle.
Our process can be started by filling in a short form for instant online title loans. We will collect some basic information from you here.
This information will be received by your local Utah Title Loans, Inc. location. One of our team members will quickly review the information and give you a call. They are there to answer any questions that you may have. They will also help to ensure that you have the documents that you need to qualify for a title loan and schedule an appointment with you at a location of your choice.
Make sure to have your vehicle and documents when you meet us in person. Our job here is to look at your documents to determine if you qualify and inspect your vehicle to determine its value.
If you qualify, then the process will be wrapped up by signing a few forms. You will then receive your loan on the same day or the following business day.
Inquire About Car Title Loans Today
If you need fast cash loans, then using a car title for collateral can be one of your options. It provides several benefits that can make the process easy.
Being able to receive the cash that you need in as little as the same day, as well as having no employment requirements are some of these benefits. To get started, simply submit the inquiry form today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.