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Can you get a car title loan with bad credit?There’s only one answer to this question, and it is Yes! Yes you can get a car title loan in California even if your credit score is dwindling.
Why? Well because your lender is using your vehicle as collateral on the loan hence, your credit score and history is irrelevant. In this piece, we will be explaining how you can get a car title loan with a bad credit score.
However, first, let’s refresh our knowledge of car title loans. This type of loan is an emergency loan. It is based off of the equity of the borrower’s vehicle. Here the vehicle is presented as collateral before the loan is granted. Also, in the state of California, the minimum loan sum that can be given to an individual as decreed by the California state law is $2,500. This means that you can borrow above this amount but not below it. To get more than this amount as loan, your car or vehicle has to be worth more than this amount.
However, the amount you borrow depends on several factors and lenders will only grant you about 60-80 percent of the resale value of your vehicle. Before you get a vehicle title loan, your lender will need to see proof of certain things, this includes:
To find out if your vehicle qualifies for a car title loan in California, simply head over to our TFC title loans website. Once your vehicle qualifies, you can start your application process. Applications can be done online via this same website or through our agents. Simply call us on our toll-free lines and we’ll get started. Our representatives are skilled professionals that will provide answers to all your questions as soon as they come. You will be heavily guided through this process and there’s nothing to worry about.
Some lenders take a few hours, others take a day or two. Nevertheless, this depends on how fast you can provide all the above requirements to the lender. With us, after you have given us all we need, you can get your car title loan in as little as 15 minutes. Our process is completely hitch free and we will give you the loan in real time to fix your emergencies. Give us a call today.