There are many different types of loan options available and you can generally choose from any of them based on which one offers you the best terms and conditions, is the most convenient and the most reliable. But, what do you do if you need cash now? In many cases, the loan application process is long and involved and if you need emergency cash these options will not be suitable for you. On the other hand, car title loans offer same day cash or even in as short as one hour.
How a Car Title Loan Works
A car title loan uses your vehicle as security and the company will become the new lien-holder on your vehicle when you sign for the loan. You can apply for a car title loan as long as you have a vehicle with a valid title. You can keep driving your vehicle while you pay back the loan and you will become the lien-holder once again when the loan is fully paid. They provide a reliable option if you need cash now.
How to Apply for a Car Title Loan
The application process for a car title loan is simple, even if you need cash now.
- You can call and speak to an online consultant who will take your details or you can apply online by filling in the web form.
- You will be asked for personal information and vehicle details and you will be offered a preliminary loan amount right then.
- You will need to visit the offices to produce your paperwork and negotiate the terms and conditions of the loan. You will need to produce your valid car title, up-to-date insurance, proof of identity and residency and confirmation of income.
- You will then be offered the loan.