Use Your Car As Collateral For An Online Title Loan
An online title loan can be a valuable resource for quick cash when used correctly. Here’s how Utah Title Loans, Inc. can get you quick cash towards your expenses as soon as today!
To get started, make sure you have your driver’s license or state-issued ID, lien-free car title, and car itself. Head online and fill out our quick request form to get connected with a store and follow through with the application process. If approved, you could get up to $15,000 toward your expenses!
Getting urgent cash when you need it most can be a godsend, but it’s still wise to understand how title loans work, how they can help, and, most importantly, how you can get one. This article will highlight the important steps you need to take to use your car as collateral for an online title loan.
What Is An Online Title Loan?
First things first, let’s explore what the term ‘online title loan’ means. Put simply, your car’s title, or the deed of ownership, is used as collateral to secure a loan, the amount of which is proportional to your car’s value.
The lender places a lien against the car, and you’ll receive a lump sum of money toward your expenses to spend as you choose. You’ll make regular monthly payments toward the loan until it’s paid in full, at which point, ownership reverts back to you. You can use your car as normal during this time.
The ‘online’ part simply refers to the fact that you don’t have to visit the store for an inspection. Instead, you can have the representative meet you somewhere that’s convenient for you.
Why Get An Online Title Loan?
An online title loan skips the hassle of traditional lending by expediting the process; it’s also helpful for people with poor credit, as the collateral helps circumvent the issue of bad credit when it comes to lending money.
More importantly, title loans can be used for a variety of expenses, such as urgent home or car repairs. You can also put the money from a title loan towards bills like medical bills, utilities, or business travel.
Doing so is often preferable to nonpayment, since not paying your bills almost always leads to repercussions like a drop in your credit score or additional fees that you have to pay.
What Do I Need For A Title Loan?
To take out a title loan with Idaho Title Loans, you’ll want to make sure you’ve got the following items on hand:
- Your driver’s license or state-issued ID: A passport, military ID, student ID, or non-driver’s license are also accepted.
- Your lien-free car title: Liens denote that another entity has a claim against your vehicle, demeaning its value as collateral. Clear liens with your lienholder before you apply.
- Your car itself: All title loans require an in-person inspection of your car to determine its value. Bring along the car that matches the title you’re using as collateral.
Our Simple Process
To take out a loan with us, you’ll need to follow these basic steps:
- Submit your inquiry online – First, head to the top of this page and select title loan from the window on the right. Doing so will prompt you to fill in some basic information about yourself and your car. Once submitted, you’ll be automatically connected with a nearby storefront that will facilitate the rest of the process.
- Wait for a call – When available, a representative will call you back to review your details and explain the next steps. They’ll refresh you on what you need to bring and set up a location for you to meet with the inspector. Again, you can meet at the store or a location you choose.
- Head to the meeting – ID, lien-free title, and car in tow, you can head to the meeting. The representative will check your VIN, car, and car title, as well as determining the overall condition of the vehicle.
- Get approved – If everything is above board, you may qualify for approval, in which case, you’ll fill out some closing paperwork and receive your money the same day or following business day, up to $15,000!
Get An Online Title Loan Using Your Car Today!
It’s possible you’ve never even considered using your car for quick cash, but with Utah Title Loans, Inc., it’s not only possible—it’s easy! Title loans are a great resource to help you tackle unplanned expenses, consolidate debt, or make urgent repairs.
This financial option can offer peace of mind during difficult financial times and help you get on the fast track to financial peace. Simply fill out our online form to get started, and you’ll be connected with a helpful, trusted agent to walk you through the rest of the process.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.