Do Title Loans Keep Your Title
Do title loans keep your title? Yes when you get a title loan, you will need to have the vehicle title in your name, so that you can qualify for a title loan.
When you do get a title loan, your title will be used as collateral to secure the loan. the lender will add their name to the title as the new lien holder so that their interest is protected.
The car title loan company will hold on to your title, it will be in their possession, as title loans are known as secure loans, the title will be used as the security on the loan.
Title Loans Will Hold Your Title
The beauty of car title loans is that you only have to give the title to your vehicle to the lender, and you will continue to drive your car.
All you need to do is to make your monthly payments, and when you have made all of your monthly payments, the finance company will send you the title once the balance is paid off.
With the auto title loans that we will get for you, they will have no penalties if you pay them off early, so once you are ready to pay them off, the vehicle title that has been used as the security for the loan will be returned.
Car title loan companies will hold the title, and if the borrower defaults on the title loan contract, the lender will repossess the vehicle, and sell the vehicle, to recoup their money.
Getting Your Auto Title Loan
If you are interested in getting an auto title loan, TFC Title Loans are here to help you to get it, all you will have to do is to call us or you can apply online, and we will help you to get the maximum money on your car title, and we will get you the lowest interest.
There are some requirements that you will need for you to qualify for an auto title loan besides a vehicle that has the equity value in it.
Here is a list of requirements that you will need:
- First of all you will need to submit your car title, it will need to be in your name, if it is not in your name, you will need to go to the DMV, Too get it transferred into your name.
- You will need to show your proof of income to see exactly how much money that you will be able to qualify for, and the lender will see that you will be able to make your monthly payments.
- Your proof of your residence is needed, you can use a utility bill that is in your name, that goes to your home address.
- Drivers license is needed for your identification.
- Vehicle insurance.
- Five personal references.
- Photo of your vehicle will be used to determine the value of the car, you will need to provide interior, and exterior photos.
- A photo of the actual mileage on your vehicle.
Contact us today, with theses basic requirements, we can get you funded. We are here for you, with our same-day funding, and affordable title loans.