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Now the fastest way to turn your financial frowns upside down is to get a cash advance on vehicle equity aka a car title loan, and TFC Title Loans is just the company to reckon with. We will let you know how to get a vehicle equity loan.
Aside from being very fast, these vehicle equity loans are very beneficial to their recipients. How so? These vehicle equity loans can be received no matter the credit stance of the borrower.
Bad credit history, bankruptcy protection, foreclosure? It doesn’t matter. These things do not affect your eligibility for this type of loan, especially when you’re dealing with a financial crisis that needs to be sorted this very instant.
This varies, it could be as little as 24 hours, but with us, you can get your loan sum in 15 minutes. This is after we’ve seen all the requirements and their proper documentation.
These requirements or stipulations include proof of the worth of the vehicle, alongside proper identification of the borrower, his/her income status, and some other things. This is just basic paperwork.
The financial institution you approach is different from the next. Your credit score shouldn’t matter for this type of loan but it depends on the vehicle you’re getting a loan on.
The greater the equity or worth of the vehicle, the fewer risks accrued to the lender, because in the event in which you cannot refund loan payments, the ownership of this vehicle will go to your lenders.
Hence, they need to protect themselves and do not need bad investment. Well, for a credit score, anything above 500 will get you qualified for an auto title loan.
First of all for your application to be approved you’ll need to be the sole owner of the vehicle you’ve presented.
Next, the make, model, and pricing of the car all come into consideration. Your monthly income source needs to be stable and at least $1,200 and this proof should be documented.
Presenting a car without an insurance policy on it can mar your application, this is because your car is now your lender’s investment and for this type of investment, it needs an insurance policy.
Also, bear in mind that this loan is short-termed and as such comes with a high rate of interest especially for those with bad credit scores.