Car title loan is a loan secured by the equity of your vehicle. You can get a loan by turning in your pink slip (vehicle title) while you keep and drive your car. The lender will be added as a lien holder on your vehicle. Car title loan is also known as auto title loan, vehicle title loan, pink slip loan or title loan.
What is Car Title Loan Online?
Car title loan online gives you the option to start your process by submitting your inquiry online and you can also submit required documents online once our loan officer has approved and instructed you on how to send those online. Car title loans online make the process fast and easy since you can do this any time of the day provided that you have access to your device that has internet connection.
What are the requirements to get a Car Title Loan?
The first requirement is that the vehicle must qualify. The next requirement is that you should be able to demonstrate income and your ability to make monthly payments.
Does my car need to be paid off to get a car title loan?
No. We can pay off your existing car loan or refinance your existing car title loan provided that you can be approved for a car title loan that is more than your existing loan balance.
What documents do I need to provide to get a car title loan?
Normally, you have to provide vehicle’s original title (lien release is acceptable), proof of residence, proof of income, proof of vehicle insurance, driver license or valid ID, vehicle photos, and references.
Do I get to keep and drive my car?
Yes, you can get to keep and drive your car when you get a car title loan. The lender is just added as a lien holder to your title.
How quickly can I receive funds?
You can normally get your funds on the same business day that you apply for a car title loan provided that you have submitted all the required documents and that your loan has been finalized. Your car title loan is as quick as how you want it to be or act on it.
When is my first payment due?
Your first payment is due 30 days after you get your vehicle title loan.
What is the term on my car title loan?
Most car title loan terms are between 24 to 44 months.
How often do I pay my car title loan?
You make monthly payments on your car title loan.
Is there a penalty if I want to payoff my auto title loan early?
There is no prepayment penalty if you pay off your auto title loan early.
How is interest rate computed?
Interest rate is computed daily based on your principal balance. Car title loan has a simple interest rate which means you only get charged interest on your outstanding principal balance.
Do I need to have good credit to get a loan?
No, you are not required to have a good credit to get a car title loan. We have helped a lot of customers with bad credit.