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    General Terms and Conditions.

    Frequently Asked Questions

    Insurance

    Can I Get a Car Title Loan without Insurance?

    Can I get a car title loan without insurance? As more and more individuals are getting on the car title loans bandwagon.

    We usually get a lot of questions regarding how to go about the whole process and what is needed to access them, you can use the Kelly Blue Book to see your vehicle value.

    One of the frequently asked questions about car title loans is if it is possible to access the facility without car insurance. We would be providing an answer to this below along with a host of other questions.

    Is it possible to get a car title loan without insurance?

    Giving out a title loan to a car without a comprehensive insurance cover is way too risky even for us. We live in a world of uncertainties, and any car that is not covered by insurance poses a great risk if something were to happen to it.

    So, if you are interested in working with us to get a car title loan at TFC Title Loans, it is important that you have a comprehensive insurance cover for your car.

    Can I Get A No Insurance Title Loan?

    We do have some partners that will offer no insurance title loans. It will depend on your location, to see if they will do it.

    But it is possible to get title loans with no insurance, but not all lenders will do it. If you have the equity in your vehicle, they will help you to get the no insurance title loan that you are looking for.

    What would it cost me to apply?

    Applying for the car title loan would cost you absolutely nothing. Just visit our website to apply free of charge.

    Car title loans are helping a lot of people to solve their financial issues all over America, don’t be left out, visit a TFC Title Loans office today and apply for yours.

    Interest Rates

    What are the interest rates of Car Title Loans?

    Car title loans are a special kind of loan that requires the title of a car or any other vehicle as collateral before being granted to an applicant, with enough equity in it. You might be wondering what are the rates on title loans?

    What a lender usually requires here is the title of a car and the loan would be given to the applicant. After the loan has been granted, the title of such a car or any other vehicle for that matter would cease to belong to the borrower.

    Title Loan Interest Rates

    Car title loans have helped a lot of people to solve emergency financial needs owing a vehicle to their quick approval.

    In spite of the many positives that come with car title loans, one of the criticisms they still get is that they come with very high-interest rates. Are you interested in discovering how true this is? Read on.

    What are the interest rates of car title loans?

    Sincerely, we are not in a position to tell you the exact interest rate anyone charges. However, you must know that most credit lenders are always involved in the practice of charging a high interest rate for whatever reason.

    With us at TFC Title Loans, you can rest assured that this is not the case. We charge fairly reasonable interest rates for our title loans and the records are there to speak for us.

    What documents do I need to get a car title loan?

    To get our car title loan at TFC Title Loans, there are some documents you must provide to get the best rate on a title loan. These documents include when you apply:

    • Your car title
    • Car insurance documents
    • Your current car registration
    • Proof of income generation
    • Proof of residency
    • Means of identification
    • Professional or personal references
    • A credit check is required

    Providing these documents would give you the chance to access our car title loans.

    What is the maximum amount I can get?

    The maximum amount you can get with our car title loan is $25,000. This is the standard amount that is permitted by the law for anyone to get through title loans.

    Would I get my title back?

    Yes. You would be getting your car title back once you have fully repaid the amount you got through the car title loan.

    What are the benefits of car title loans?

    The car title loans that we offer at TFC Title Loans come with a lot of amazing benefits. Some of them are listed below.

    • Quick loan approval as you would be getting the loan approved on the same day you applied because of our same-day funding policy.
    • You would be able to get the loan with your bad credit ratings no matter where you live.
    • Competitive interest rate.

    At TFC Title Loans, our interest rates are determined by factors like your creditworthiness, tenor of the loan, the value of your vehicle, the amount you are requesting, etc.

    However, you must know that in all of this, your welfare is considered paramount and our interest rates are fair enough to you regardless of your status.

    PROCESS

    Can I Get A Title Loan With Bad Credit?

    Can I get a title loan with bad credit? Firstly, how do vehicle title loans work? It’s simple; the lender uses your car equity as collateral.

    Your car is valued and you are loaned accordingly. In California, the minimum amount set by state law is $2,500. This is duly supervised by the DBO.

    What if I have a terrible credit history, can I still get a title loan?

    If that sounds like you, then YES, you can still get a title loan with a terrible credit history that is a thousand miles away from being impressive.

    You most likely like many others out there have made poor financial decisions that have dented your credit score but it is 100% possible to still get a title loan

    How is this possible to get a car title loan with an unflattering credit history?

    Your car is automatically the collateral for your auto title loan. Your car makes it easy to obtain the car title loan as the lenders have something to fall back on if you default on your loan repayment.

    Though bad credit may impede getting loans in some areas, this is entirely different for car title loans as your vehicle’s worth and ability to repay the loan is mainly the basis of receiving a loan not your credit score.

    This in no way implies that the lender does check your credit history, they will certainly need to know if you’re heavily defaulting on major payments alongside being unemployed.

    But keep in mind that past bankruptcies hardly get in the way of getting a car title loan.

    That said, your credit rating/score only represents your past.

    Getting Title Loans With Bad Credit

    The application approval is not influenced in any major way by a bad credit rating. Car title loans are almost effortlessly secured because lenders are assured by the important asset in question which is your car and its value if unfortunately, you fall outline.

    This means, aside from your pledge to repay the loan the lender has something valuable to hold on to. In essence, auto title loans are somewhat a blessing for people with bad credit record and are finding it hard to get a loan elsewhere.

    Also, your job will be your credit. So as long as you can show your proof of income, you will be able to get a pink slip loan.

    Giving auto title loans to persons with bad credit history isn’t much of a big deal for lenders like TFC TITLE lOANS as bad credit will not stop you from getting a car title loan.

    Bad Credit Equity Loans

    The equity value of your vehicle and your ability to repay are the most important things. You can get from 60-80% of the car’s resale value. Other factors that could influence getting a title loan despite a bad credit score include:

    • State of the vehicle
    • Car mileage
    • Car model
    • Year of launch
    • Your monthly income doesn’t necessarily have to be from an employment
    • Formal references and some other factors.

    The quick fact here: a vehicle with more than 200,000 miles in it will not qualify for a title loan in California, except it is a diesel truck.

    Conclusively, your bad credit should not deter you from applying for a car title loan as it plays very little influencing on most lenders’ decisions to give you a loan.

    How To Get A Pink Slip Loan?

    We are aware that emergencies occur and accompanying them is an urgent need for money. Being something you hadn’t foreseen you may not have the funds for it, we will let you know how to get a pink slip loan.

    To solve your financial problems, you can get a cash advance Pink Slip Loan. This loan is otherwise called a car title loan and the credit institution that you should reckon with is TFC Title Loans.

    How Does Pink Slip Loan Work?

    These loans are known to be very fast and easy to acquire by using the equity in your vehicle. They are known as emergency loans and can be granted to an individual irrespective of his/her credit history, bankruptcy filing, or foreclosure warnings.

    This is because once a financial emergency arises, you need urgent money and you don’t have the luxury of time to wait for banks and traditional institutions to grant you a loan. You require a solution in real-time.

    How Fast Can I Get Money with a Pink Slip Loan?

    One benefit of this pink slip loan is its speed. You can apply for a car title loan today and get it in a few hours or in a day, even two.

    At TFC Title Loans, clients can apply for this type of loan and receive funding in as little as 15 minutes, after we have assessed all the documents of the requirements you have provided.

    These documents include the vehicle’s mileage, worth, brand, and other related stipulations, and we have multiple locations for you to choose from.

    What Type Of Credit Score Do I Need To Apply for a Pink Slip Title Loan?

    With the difference in each lender, this factor also differs. This could depend on the type of vehicle you are trying to use as the loan collateral.

    When applying for a pink slip loan, you should know that the more valuable your collateral is, the lesser the risk on the lenders, and with this risk reduction comes to a decrease in the required credit score.

    This is because these lenders are also trying to protect themselves from the risk of losing their investments, which in this case is your vehicle. Nevertheless, if you have a credit score of 500 and above, you are eligible to apply for a pink slip loan.

    When Applying for a Pink Slip Loan, What Vehicles Can Work?

    You’ll need a vehicle with less than 200,000 miles on it with the exception of diesel engines. Also, the smallest amount of loan sum you can receive for a pink slip loan is $300, except for low vehicle value program qualifiers. All this comes into consideration when qualifying for a pink slip title loan.

     

    Pink Slip Loan Anaheim

    What Else Should I know To Qualify For A pink Slip Loan?

    Before qualifying for a pink slip title loan, you’ll also need to assert yourself based on the following:

    • A monthly income of at least $1,200 from a stable source.
    • The car’s mileage documentation.
    • The insurance policy on the car.
    • A sizable credit score.

    Once you have all these, you qualify for a pink slip title loan and can go ahead to apply for one.

    How Can I Reach Out and Apply For A Pink Slip Loan?

    All you’ll need to do is to call us on our toll-free phone numbers where you’ll be redirected to our representatives who will help you in getting started on your application and to find the nearest location to you.

    You can also do this via our website, either way, our professionals will be happy to answer any questions you may have and put you onto the loan plan that best suits your needs.

    Online Car Title Loan Application

    Looking for fast access to cash for an emergency? There are a few alternatives, but an online car title loan application offers you the most advantages.

    Car Title Loans California’s most reputable consumer finance company offers borrowers who own a vehicle the ability to borrow money rather easily. How It Works;

    STEP ONE – Fill Out the Application

    The first thing is to fill out the application online with the correct response in the boxes provided and we will be glad to walk you through it.

    Either way, we just need a little information so we know who you are, a bit about you, some details about your car, quite easy, isn’t it?

    STEP TWO – Provide A Few Documents

    Here you will have to provide us with a clear title to the car for registration and In addition to that title document, we will need to see a couple of other items to help us know who you are and where you live as this will help determine the type of loan to be provided for you.

    Your representative will tell you exactly what we need, but it will be simple items like your driver’s license and a utility bill or two, with no cause for alarm.

    STEP THREE – Get Your Car Inspected Online

    You have the option to stop by one of our multiple locations so one of our associates can take a quick look at the car to make sure it matches the title you are presenting.

    Our title loan representative will help you find the one nearest you, to reduce stress, you can simply upload the picture of the sensitive required part while we inspect from here.

    STEP FOUR – Pickup Your Money!

    Once we approve the loan, you can pick up your cash at the MoneyGram location nearest you! There are thousands all across the country.

    That’s it! No loans based on credit checks. No stacks of paperwork. No waiting.

    A car title loan is no doubt filled with lots of benefits. All conventional loans will require an examination of your credit history.

    But in this case, the vehicle equity will serve as collateral and in the event that a borrower does not repay, the lender can take possession.

    The loan is not dependent upon a borrower’s payment history. If you have a poor credit history, it will not affect your ability to take out a car title loan.

    Continue driving your vehicle. You may think you have to give up your vehicle to the lender while you repay the loan.

    That is not the case. You are able to keep driving your car or truck as you pay back the loan. You do give up the title to the vehicle until you make your last payment.

    TFC Title Loans offer reduced rates of interest when compared with other car title lenders. Since the title to the vehicle provides the lender with a layer of security, they can charge less in interest.

    RV Title Loans

    How To Get A RV Title Loan?

    How to get an RV title loan from TFC Title Loans, a credit lending institution that has been in the business of granting various kinds of loans to citizens of America regardless of their credit ratings with the RV title loan.

    To learn more about this financial lifesaver by TFC, check out some of the frequently asked questions about how to get RV title loans and the answers below.

    What is an RV Title Loan?

    An RV title loan is a loan given to an individual upon the submission of their Recreational Vehicle (RV) title to the lender.

    Usually, the RV title loan is short-term in nature and can be easily accessible once all the necessary lending conditions have been met.

    In getting this type of loan, you will temporarily transfer the title of your RV to the lender and get it back only when you have fully repaid the loan.

    What if I Have a Bad Credit?

    At TFC Title Loans, we actually don’t pay much attention to your credit scores. We believe they belong in the past.

    We are happy to work with you in securing the RV loan once you have signaled your interest and have satisfied every requirement of our loan policy.

    I am Disabled, Can I Still Apply?

    Yes, you can apply for an RV title loan with us. We are a firm that cares a lot for the less privileged in society and believe they should be getting what every other person is getting.

    We will work with you so long we can ascertain that you have a source of income and meet the other conditions necessary for our RV title loan.

    Is My Personal Information Safe With TFC Title Loans?

    With us, your personal information is safe and would be treated with utmost care. We have been handling title loan deals for a lot of American citizens in the past and not for once in that period have we been found wanting of giving out clients’ information to anyone.

    What Documents Do I Need to Apply for an RV Collateral Loan?

    To apply for our RV title loan, you would need to provide the following documents. They are:

    •    The title of your RV
    •    Insurance documents of your vehicle
    •    National identification
    •    Proof of income generation
    •   Proof of residency

    How Much Money Can I Get With an RV Title Loan?

    The exact amount you can get as a loan is directly tied to the equity value of your RV. The better the condition of your vehicle, the higher the amount you can access with it and vice versa. You can look at the Kelly Blue Book to see the wholesale value of your vehicle.

    Is there a Prepayment Penalty in Case of Default?

    At TFC Title Loans, there is no prepayment penalty for failing to pay back your title loan as and when due. We usually look forward to working with our clients to help them in devising a way of repaying their loans when there is the difficulty.

    When all options fail, we would likely sell the vehicle and use the proceeds to offset the outstanding amount on the loan agreement.

    Walk into any of our offices today and let’s discuss how we can help you with your quick financial needs, or you can apply online for the nearest location and get the RV title loan that you need today from us.

    TITLE LOANS

    Can I Get a Car Title Loan without Insurance?

    Can I get a car title loan without insurance? As more and more individuals are getting on the car title loans bandwagon.

    We usually get a lot of questions regarding how to go about the whole process and what is needed to access them, you can use the Kelly Blue Book to see your vehicle value.

    One of the frequently asked questions about car title loans is if it is possible to access the facility without car insurance. We would be providing an answer to this below along with a host of other questions.

    Is it possible to get a car title loan without insurance?

    Giving out a title loan to a car without a comprehensive insurance cover is way too risky even for us. We live in a world of uncertainties, and any car that is not covered by insurance poses a great risk if something were to happen to it.

    So, if you are interested in working with us to get a car title loan at TFC Title Loans, it is important that you have a comprehensive insurance cover for your car.

    Can I Get A No Insurance Title Loan?

    We do have some partners that will offer no insurance title loans. It will depend on your location, to see if they will do it.

    But it is possible to get title loans with no insurance, but not all lenders will do it. If you have the equity in your vehicle, they will help you to get the no insurance title loan that you are looking for.

    What would it cost me to apply?

    Applying for the car title loan would cost you absolutely nothing. Just visit our website to apply free of charge.

    Car title loans are helping a lot of people to solve their financial issues all over America, don’t be left out, visit a TFC Title Loans office today and apply for yours.

    Can You Get A 15 Minutes Title Loan?

    Getting finance for emergencies can sometimes be the most difficult thing to do if you don’t know the right places to go and you are interested in getting a 15-minute title loan.

    Getting a car title loan is your best shot at getting emergency cash, and TFC Title Loans is one of the best when it comes to car title loan services, and guess what? We are dedicated to getting the loans into your hands as quickly and as effectively as possible with your car value.

    Here, let’s provide answers to a few frequently asked questions on this topic, for further clarification.

    What is the 15 minutes car title loan about?

    The 15 minutes title loan is about starting the process of a car title loan application, processing, and having the loan ready in 15 minutes.

    So can I get my car title loan processed in 15 minutes?

    There is no one specific answer to this as the time you get your loan ready is completely relative. However, for the purpose of this post, we will provide two of the best answers for you:

    First, yes, it is possible to get your 15-minute title loan, but that will only mean approving the car title loan for you.

    But for the second answer, which is no, you will not receive cash from us within 15 minutes of applying for a car title loan.

    We can get your loan processed within that time, but you don’t expect to get the money in your hands within 15 minutes.

    15 minute car title loans

    We will get you the best 15-minute title loan

    Why is this the case?

    There are quite a number of reasons why this is the case.

    First, we will need to get the necessary documents from you, which will generally include:

    • The model, brand, mileage, and other aspects of your vehicle.
    • Documents showing that your insurance cover is up to date
    • The number of miles your vehicle has on it
    • Professional references
    • Personal references

    In other to be sure that you can repay your loan promptly, we will have to run your credit, as well as see your proof of monthly income.

    So yes, it is possible to get your request approved within a 15-minute title loan, but we can’t get these processes completed within 15 minutes.

    We will try everything within our capacity to get your cash to you as quickly as possible, but 15 minutes is a time that’s not feasible.

    Although we try to be as quick and efficient as possible, loan processing time still differs from individual to individual.

    The average time it takes to get your car loan in your hands is 24 hours, however, we’ve had situations where we had the loans processed as quickly as within a few hours.

    The timing is dependent on how quickly you can provide all the documents required to get your car loan application processed.

    Contact us today to get the process for your car title loan started or our website for other information.

    Can You Get a Title Loan Fully Online?

    Getting title loans fully online have become a very great source for getting credit facilities by a lot of people who are looking for quick ways to fix lingering financial issues.

    Since it was discovered that with your vehicle’s equity, you can get a quick loan, many people have explored this option and a lot more continue to do so.

    Online Title Loans

    In recent times we have been receiving a lot of questions from potential applicants who are keen to find out whether they can get our title loans online.

    In this article, we shall be answering that question, while also explaining a few other things that you might not understand about our online title loans application.

    On whether you can get our title loans online, we must tell you this is very possible. In fact, we would be happy for you to get all things done online if you can as it saves you and us a lot of time and allows us to have more time to attend to a lot more people.

    What you must know regarding this though is that we are likely going to be more stringent in our approach regarding the verification of your documents.

    What is a lien-free title?

    When a vehicle has a lien-free title, it simply means the title of such vehicle does not have an outstanding loan. Ideally, for any title to be used as collateral for our title loans, it must be ascertained that such title is lien-free.

    You can use the Kelly Blue Book to check out the value of your vehicle, to see if you have the required equity for our title loan completely online

    How much can I get with online title loans?

    The amount of money you can get with our fully online title loan depends on the value of the vehicle whose title you are using as collateral.

    We can help you if you are interested in an online RV title loan, as long as you have the equity in it, we are here to help you to use the equity.

    How Do I Get A Fully Online Title loan Today?

    All you have to do is to apply online with us, and we will see if you have enough equity, we can help toy with commercial vehicles, motorcycles, or any kind of vehicle, as long as you have the equity in it, and we have multiple locations.

    There are TFC offices all over California that would provide you with more information. Visit one of them today and let our amazing team help you with your emergency funds.

    Car Title Loans Reviews

    When you are looking for car title loan reviews, you will find with us, that we have multiple positive reviews on the internet.

    Car title loans are one of the easiest means to get money ASAP! A lot of people opt for this option because they need to take care of some financial problems as soon as possible.

    So, it is very understandable if you have fallen into some issues that require money to make it better. For car title loans, you can make use of virtually any vehicle at all. It could be a car, morocycle, van, SUV, or even an RV.

    However, you would need to find the best company that offers car title loans. To make this easier, we have put together this car title loans reviews to help you out.

    A lot of potential clients usually have a lot of questions regarding auto title loans, which is perfect! Why? Well, our aim is to enlighten you on everything that has to do with car title loans with your vehicles equity.

    Why Should I Get A Car Title Loan?

    Deciding to get a car title loan is a big commitment and requires proper research and analysis. To make this process easier for you, here are a few benefits of choosing to get money via a car title loan.

    • You don’t need a great credit score. Unlike conventional loans gotten from banks, you do not need to have a great credit score to obtain a title loan.
    • You can get your money quickly. Say goodbye to waiting tirelessly for approvals. A car title loan is straightforward and quick!
    • Your car is used as collateral and the loan is based on the equity of your car. The equity of your car simply refers to how much your car is worth, thus, the more valuable your car is, the more you can get.
    • You can get a loan despite debts owed to other people, as long as, you do have a legitimate source of income.

    What Are The Downsides Of Obtaining A Car Title Loan?

    Like every other thing, there are downsides to getting a car title loan. These are, also, as important as the positives. Some cons of getting a car title loan are;

    • High-Interest Rates. Paying back your loan is usually done monthly, which accumulates interest rates over time. It is advisable to get a car title loan for short-term payments only.
    • You may lose your car if you are unable to pay back your loan. This is normal for every title loan company and it is standard procedure. The company is allowed to sell your car if you’re unable to pay your loan.
    •  This is decided by the California Department of Business Oversight.

    With this information, you can easily decide if getting a car title loan is okay with you or not.

    For the best car title loan, be sure to apply with us. We ensure we give you the best deals on the market, plus, check out the following reasons why we are your best option;

    • We do not believe in imposing deals on clients. We believe in less pressure because we understand that you’re already under a lot of pressure.
    • We have a lot of articles that can educate you on everything related to car title loans and other related topics.
    • We can answer all your questions. All you need to do is visit our questions and answers page.

    You can get the best car title loans reviews here to help you make the best decision TFC Tite Loans, we have been helping people since 1994, and we have plenty of title loan reviews.

     

    How Do I Get A Car Title Loan With An Old Car?

    Do you need some money urgently, but consider your vehicle too old to pawn for a loan? Don’t worry; we are here for you on how to get a car title loan with an old car.

    Here at TFC Title Loans, we started to help you get access to money as quickly and seamlessly as possible; hence we’ve eliminated any barrier that will stop you from getting the best client experience.

    We will help you get a car title loan, even with your old vehicle. Of course, there are other factors that we put into consideration, but generally, we put in our best efforts to get the money across to you in a short time.

    Generally, we require that your vehicle, irrespective of its age has its total miles to be less than 200,000 and to have enough equity in it. This is different when your car has a diesel engine on it, however.

    Here are detailed answers to frequently asked questions regarding car title loans and how old your car needs to be to help you understand how it works properly you can look up the value of your car with the Kelly Blue Book.

    What facts do I need to know about when getting a car title loan on an older vehicle?

    We give title loans on old cars, but we consider a lot of other factors to access your eligibility so that we can be on the safe side. Some of the information we will ask you to provide includes:

    • Credit Score: We still take a look at this, although a low credit score may not really affect your chances, depending on how well you can meet other factors.
    • Your car make or brand
    • Your vehicle’s model
    • The purchase year of your vehicle
    • Your vehicle’s car mileage
    • If your vehicle has a salvage title
    • Your total monthly income – the law guiding title loans in California requires that your monthly income is at least up to $1,200.
    • References – If you can get reliable people to vouch for your ability to pay back
    • Professional references – this may include educational qualifications and job history
    • Your insurance papers.

    We have a team of highly experienced and dedicated staff to make this possible, each trained to show you the path towards getting your loan request processed no matter what location that you live in.

    The advantage of our car title loan is speed and efficiency. Most times, we don’t care about your credit history, meaning that we will still give you a loan, even with a bad credit record hanging on you.

    Looking to get a car title loan on your old vehicle? Contact us, and we will get the process done in a short time.

     

    How Much Can You Raise From a Car Title Loan?

    Cash emergencies happen all the time. They happen to everybody too. There are reasons why you can be strapped for cash sometimes and you might be wondering how much you can raise from a car title loan?

    Things that need urgent attention like rent, home repairs, medical bills, car repairs, and funeral expenses can be very difficult if you don’t have the right person or institution to back you up.

    All the processes involved in securing loans from a traditional bank and the time wastage make it a non-acceptable option.

    Situations like these make the car title loan a solution you can almost deal with. Over time, people have continued to ask questions like:

    How much can I be entitled to an application for a Title loan?

    This type of loan is basically based on your vehicle’s equity. Here, we will try everything possible to answer this question as comprehensively as possible.

    However, you can still go through some of the articles in our FAQ section to get a full grasp of everything related to this question.

    We can get you a title loan starting at $300, it all depends on the location that you live in. You must have a consistent monthly income of at least $1,200.

    Get The Equity From Your Car

    Depending on if you have enough equity in your vehicle, that will let us know if we can help you or not. We can also use the equity that you have in your motorcycle, RV, classic car, or commercial vehicle too.

    You don’t have to have a job to access this kind of loan, but you have to present evidence of verifiable income amounting to up to $1,200 per month.

    Thirdly, your vehicle’s state plays a very huge role. You must understand that despite our resolve to make the process involved in this as easy as possible, we are still in business to make a profit, hence, we will compare the present state and look at the potentials for a quick resale.

    We may also not lend the full amount of what your vehicle is worth, to protect our interest too, we use the Kelly Blue Book to get the equity value.

    After going through all these, we will then determine how much we can lend for your vehicle’s title, putting a lot of factors into consideration.

    Fast Money Title Loans

    Once we are done collecting the required information, we can then go on to make our offer, stating how much we can lend you and how much interest is due on it.

    Keep in mind that repayment periods may differ as a result of the agreement, but interest levels will be higher with longer repayment periods.

    Here at TFC Title Loans, we are dedicated to making the whole process easier; hence we have a team of professionals handy to help walk you through the process without hassles.

    How to Apply for a Cash Advance?

    Here at TFC, we are dedicated to giving you quick and easy access to cash advances. When it comes to the provision of easily accessible cash advances we are your best bet.

    Our cash advance service is not only quick but simplified for everyone. We’ve particularly simplified the process because we understand that there are times when you may run out of finance, needing quick cash to continue whatever project you’re on.

    At such times, you may not need to start running around confused – just as long as you own a car, we are here to rescue you from whatever financial mess it is by providing you with a quick loan. This cash advance pink slip loan is also called a vehicle collateral loan or auto title loan.

    Here are apt answers to a few questions that are frequently asked regarding cash advance pink slip loans.

    How do cash advance pink slip loans work?

    The process involved in accessing a pink slip loan is not too different from what’s obtainable in other states. We are here at TFC Title Loans as an easy option to fall back to when you’re financially stuck or in need of quick cash to fund an emergency.

    The pink slip loan is a quick access kind of loan, meaning that a lot of things are overlooked in the process of acquiring it.

    Credit records are one of such things that are overlooked. Under this service, we’ll provide a quick loan for you without looking into your credit history.

    How Quickly Can I Get A Title Pink Slip Loan?

    We understand that time is of the essence when you have an emergency, and we’ve upgraded our service to make the pink slip loan available to you on time.

    The speed of accessing this loan depends on how quickly you can provide the necessary documents required. We’ve had the process completed a few hours before, and at other times, we’ve had to work it out for a few days.

    Generally, it takes an average of one to two days to get your loan delivered to you. The documents we require from you is called “stipulation,” showing the present worth of your vehicle, its total mileage, and other important things.

    What Credit Score Do I Need To Qualify for a Collateral Loan?

    Normally, we will make a few important inquiries before releasing the loan to you. Although the process has been simplified, we still need to know the present value of your car.

    It is the value of your car that will chiefly determine how much loan you can access. So with a car that’s still valued high, you can get a sizable loan, even with a score as low as 500.

     

     

     

    How To Get A Cash Advance Pink Slip Loan?

    Money troubles are bound to happen sooner or later, but it doesn’t have to keep you down. If you’re experiencing it and in need of an urgent way out, getting a Pink Slip Loan will guarantee just that. A Cash advance pink slip loan (aka a car title loan) is one in which requires you to temporarily lease your car ownership to your lender, which in this context is TFC Title  Loans.

    Pink Slip Loan

    How Does a Car Title Loan Work?

    These loans are known to be very fast and they are known as emergency loans hence they are for your urgent and immediate financial burdens. Now, these loans are very beneficial. The eligibility of a car title loan is open to pretty much everyone. Whether you have a poor credit history, have filed for bankruptcy protection, or even if you’re dealing with foreclosure, you can apply today. This is just to enable you to get rid of the financial strain.

    How Fast Can I Get My Money From a Pink Slip Loan?

    This is usually a very short interval depending on who your lender is. It could be a few hours or a day, even two, but at TFC loans you can get your car title loan in as little as 15 minutes. This is after we have processed all the documents you have provided. These stipulations help to prove the equity of the vehicle alongside some other key requirements which we will discuss later.

    What Type of Credit Score Would I Need to Apply for a Cash Advance Pink Slip Loan?

    This differs from different lenders. It also depends on the worth of your vehicle. As such the higher the equity of your vehicle, the lesser the risk accrued to the lender, and the lesser the risk, the lower the required credit score. Nevertheless, in most cases, you can possess a credit score of 500 and above and still be eligible to apply for a cash advance pink slip loan.

    What Type Of Car is Qualified for an Equity Loan?

    Any vehicle, unless one that runs on a diesel engine, needs to have less than 200,000 miles on it to be qualified as collateral. In Santa Ana, the minimum car title loan sum you can receive is that of $2,510, which is applicable to all unless you qualify for a low vehicle value program. Also, this mileage needs to be documented and proven alongside the possession and ownership of the vehicle. These things come into play when one is getting a car title loan.

     

    Pink Slip Loan Santa Ana

    What Other Things Will Mark my Auto Title Loan?

    This includes:

    • Your monthly income, which should be at least $1,200, also needs to be stable as you’ll be required to give proof.
    • The mileage of your vehicle.
    • The vehicle’s insurance policy. In case it is totaled or damaged.
    • Sizable credit scores.

    If you have all of these you can go ahead to apply.

    How Can I Apply for My Emergency Loan?

    You can do this by calling our toll-free phone numbers to get started or by visiting our website. Either way, you’ll be provided with adequate information by our representatives who will guide you through making this decision.

    How To Get A Loan On A Car Title?

    Here at TFC Title Loans, we have earned our position as the best company to get a loan on a car title. We have put a lot of effort into ensuring that people receive a loan without more stress than they should.

    Unlike a lot of other credit companies, our processes are easy and fast. When it comes to the provision of an easily accessible loan on a car title, you know we are the company you should trust.

    Loans On Car Title

    So, when you need urgent cash to take care of an emergency, you know the right company to turn to for loans on a car title.

    Here, we’ve outlined comprehensive answers to a few frequently asked questions regarding loans on car titles.

    How To Get A Cash Advance On A Car Title?

    We have made the application process involved in accessing our loans on a car title is easy and quick. Our simplified process makes it easy for you to access cash when financially stuck or when an emergency comes up.

    Our policies include overlooking some things to make the loan on a car title more easily accessible.

    One of such things we overlooked is credit history, so you can apply for and access this loan irrespective of your past credit record. With this policy, you are sure that you can get your loan quickly, irrespective of your credit history.

    How Quick Can I Get a Loan On A Car Title?

    We understand that when it comes to financing, there’s always the need for ease and speed and as expected, we have simplified our own process to make it fast and easy.

    The pink slip loan is particularly easy and available at all times, often depending on how quickly you can provide the documents required.

    If you can get the documents ready in a few hours, then you can get your loan. If not, it can take up to a few days to authenticate.

    Generally, it takes an average of one to two days to get your loan in your hands. The documents we require is called “stipulation” and it contains information on your car’s worth, total mileage, and other important things.

    What Credit Score Do I Need When Seeking A Loan On A Car Title?

    Our processes are different from others in several ways, especially in speed and ease. However, we still need to know a few things about you before releasing the loan, so that we don’t end up running at a loss.

    As a priority, we will check the value of your car to be sure that it can cover your loan. Of course, the amount of loan you can have access to depends on the present value of your car.

    As long as your car is valuable enough, we will release a loan to you, even if your credit score is just a little above 500.

    What Other Things Can Mark My Chances of Getting a Loan On A Car Title?

    Before authenticating your title loan request, we will ask that you provide proof of your employment. This is so to be sure that the loan you are taking is within your income reach.

    Other things that we also check include your car mileage, insurance papers, receipts, and invoices among other important documents.

    Take a moment to check our website out, to get started into the process of getting your first bad credit loan on a car title.

     

    How to Get Car Title Loans Without Bank Accounts?

    Getting a credit facility can be a daunting task unless you are rich and have a great credit score. How then can someone even think of getting one without a bank account? That seems impossible, doesn’t it? Well, it’s not impossible. With TFC Title Loans, you can get a loan without having a bank account.

    If you are interested in knowing how you can go about achieving this, go through some of the following FAQs about TFC’s car title loans and how they can help you solve your financial worries.

    Can I get a car title loan without a bank account?

    Yes, you can. Our car title loans at TFC Title Loans can be gotten even without having a bank account. We have made it easy and possible for everyone to get it in whichever way they choose to.

    What are the requirements to get a car title loan?

    With us, the requirements for getting a car title loan are simple. They include:

    • You must present a lien-free title of your car.
    • You must present your means of identification.
    • You must be a permanent resident to find your local location.
    • You must provide the insurance papers for your car.
    • You must provide proof of your income generation (usually around $1200 per month).
    • You must be 18 years and above.

    My car is old. How will this affect my chances of getting the loan?

    It depends on how old your car is. If your car does not have up to 200,000 mileage in it, and it still has an equity value of over $700, then you would be considered for our car title loans.

    However, if your car’s equity value is less than $2500 or it has accumulated more than 200,000 mileages, we might not work with you.

    What if the car is not mine, can I still use it?

    No. We would only grant our car title loan to you once you have presented the title of your car (which must be owned by you) to us. We are only interested in working with the owners of the car, and not a third party.

    How long does it take to pay back the title loan?

    Title loans are usually short-term financial securities. With us, you are usually expected to pay back within 90 days.

    Would I get my car title back?

    Yes. You would get your title back when you have fully repaid your title loan.

    If you are also interested in getting a title loan with us without a bank account, contact us today and we would be happy to help you.

    How To Get Cash Advance On Vehicle Equity?

    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.

    How Do Vehicle Equity Loans Work?

    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.

    How Long Does It Take Before I Can Receive Money From A Vehicle Equity Loan?

    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.

    Do I Need a High Credit Score When Applying for a Vehicle Equity Loan?

    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.

    What Can Make Me Get a Vehicle Equity 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.

     

    How To Get Cash Advance On Your Car title?

    Here at TFC Title Loans, we have distinguished our self from other cash advance services in the way we have simplified our processes on how to get a cash advance on your car title.

    When it comes to the provision of easily accessible cash advances, you can trust that we are the best. One of our popular car loan services is the cash advance pink slip loan.

    Cash Advance On Your Vehicle

    Its popularity is largely because we’ve made the process involved quick and easy. We’ve particularly made the process easy to help you get easy access to finance when you need quick cash to take care of an emergency.

    The cash advance pink slip loan is also referred to as vehicle collateral loan or auto title loan. The following are comprehensive answers to some popular questions regarding pink slip loan. You can apply online with us.

    How Does A Cash Advance Work?

    Accessing our cash advance is relatively easy, irrespective of location. We’ve tried to simplify the process, to enable you easy access when you are financially stuck or in need of quick cash for an emergency.

    Throughout the process involved in accessing pink slip loan, we try to overlook a number of things to keep it easy. One of the significant things we overlook is your credit history, so you are sure that you can get quick money, even if you have a bad credit history.

    How Quickly Can I Get an Auto Title Loan?

    Here at TFC Title Loans, we make every necessary effort to quicken the process and get your loan in your hands as fast as possible with your vehicle equity.

    Despite our efforts, however, it all falls back to how quickly you can provide all the documents that we require from you.

    Owing to this, the time between application and authentication may vary from person to person. In the past, we’ve had the process completed within hours, and at other times, we’ve had to work it out for a few days.

    Generally, we’ll get your loan to you at an average of one to two days. The documents that we require from you is called “stipulation,” containing information on the worth of your car, its total mileage, and other important things.

    What Credit Score Do I Need When Seeking For a Title Loan?

    We are a standout from other lenders, so we try to make the process easier and faster. However, there are still a few important inquiries that we need to make before releasing the loan to you.

    First, we will check your car out and be sure that its present value can cover for your loan. The amount of loan you can have access to is largely determined by the value of your car. We will release the loan to you, even if your credit score is just a little above 500.

    What Other Things Can Mark or Change My Chances of Getting a Bad Credit Title Loan?

    Before getting your cash advance on your car title processed, you’ll have to provide a proof of employment, generally to show that the loan you are taking is within your income reach.

    We will also verify your car value with the Kelly Blue Book. Your insurance coverage must also be up to date and other necessary documents made available.

     

    How To Get The Best Deal on a Title Loan?

    We will get you the best deal on a title loan when every once in a while, you can fall into a financial dilemma. This could be as a result of unpaid debts, or a sudden need to foot some bills. Whatever the case may be, the bottom line is that you need cash almost immediately.

    One of the easiest ways to get quick cash is getting a car title loan, and if you’re searching for a car title loan’s best deals, then search no further than TFC Title Loans.

    This article will explain how to get the best deals on car title loans, as well as, certain equity requirements. However, before we proceed, it is important to understand what exactly a car title loan is and why it is necessary.

    What Is A Car Title Loan?

    Car title loans are loans that are given to an individual by a loan company or a bank with their vehicle equity as collateral.

    Any vehicle can be used to obtain a car title loan. It could be a car, RV, minivan, truck, motorcycle, or SUV. A lien is drawn based on the equity of your car, which is used as collateral. A lot of individuals utilize this means as a last resort to get cash when they are in need.

    What Is The Equity Of A Vehicle?

    The Equity of a vehicle, simply represents how much a vehicle is worth on the market. This amount determines if you will be given a loan, and how much you will be given.

    Usually, you are not given the exact worth of your vehicle as a loan, however, you are given a fair percentage of about 70%-80%.

    What Are The Requirements For Car Title Loans Best Deals?

    To get the best car title loan deals, you would be required to make the following documents available no matter where your location is;

    • Proof of Identity.
    • Proof of Income: You have to be making an income of $1,200 to be approved for a car title loan.
    • A vehicle with lower mileage.
    • A new vehicle means fewer problems, thus it is always preferable.
    • A vehicle with good equity.
    • A good credit score.
    • An extra source of income in the form of a business is required, as this proves that you can pay off your debt.
    • A vehicle with up-to-date insurance is necessary because the lender needs to be sure that any damages done to the car will be taken care of.

    Once all of these are available, you can begin to process your car title loan. You will, also, be asked to provide the title and a picture of the vehicle in question. The lender will then work out a monthly payment plan that you must adhere to.

    How Fast Can I Get My Car Title Loan?

    A car title loan usually takes about 1 business day to get ready after you must have turned in all of the necessary documents.

    For car title loans best deals, be sure to apply with us for quick service.

     

    How To Get Title Loans Near You?

    So you’ve gotten yourself into a financial valley and you’re in dire need of money. It happens to the best of us but not to worry, once you’ve hit rock bottom, the only way to go is up we will help you to get a title near you.

    Now let’s assume you’re looking for a quick fix to your situation, have you considered getting a title loan. If yes, how about a TFC Title Loans. Okay, let’s break it down.

    What is a Title Loan near you?

    A title loan is an easiest and fastest way to acquire money to alleviate your financial woes. Like any other loan, it has an interest rate, a loan term, and of course the principal.

    Now, what sets this loan type apart from the rest is the fact that it requires collateral, and not just any collateral, your car title.

    Depending on the equity of your vehicle, you’ll need to temporarily sign over ownership of your car to your lender. This is all very easy especially if you’re within the state of California. Now you can do this with us at TFC.

    What is a TFC Title loan?

    Well, this is a title loan that you receive from us. Usually, automobile title loans have accompanying high interest rates, but we make our title loans very affordable at low-interest rates because we want to help you get back on your feet again.

    Our title loans are direct, hitch-free, affordable and it is processed in a system that’s very transparent, so there’s no room for worries. Now we’ve established that, let’s see the requirements you’ll need to get a car title loan in your vicinity.

    What Are the Title Loans Requirements Around Me?

    If you’re within the state of California, the minimum loan amount you can cop for a title loan is $2,510 except in certain conditions.

    We can help you in many states for you to get the local title loan that you are looking for. The requirements for a title loan are as follows. You’ll need:

    • A car that has a mileage that’s under 200,000 miles
    • Insurance coverage on your car is for the lender’s restitution in case the vehicle is damaged.
    • Full identification of yourself
    • Proof of monthly income of at least $1200.
    • Documentation of ownership of the car
    • A vehicle with equity (worth)

    What Don’t I Need?

    One of the things that won’t be required of you is your credit history. Next is your financial history, bankruptcy, or foreclosure history. None of this matters as you’ll still qualify for a car title loan in California.

    How to Reach Us?

    Simply call us today to apply, our numbers are TOLL-FREE  and you’ll be connected to a friendly representative who will answer all questions you may have.

    Our professional will also listen to you and put you on to a title loan plan depending on your needs. Also, our website is also as effective, as you will be guided with the information you need to make a good decision with us.

    Ultimately, there is no pressure or risk at all as we’re very patient with our clients and will not lure them into making hasty decisions.

    Online Car Title Loan Application

    Looking for fast access to cash for an emergency? There are a few alternatives, but an online car title loan application offers you the most advantages.

    Car Title Loans California’s most reputable consumer finance company offers borrowers who own a vehicle the ability to borrow money rather easily. How It Works;

    STEP ONE – Fill Out the Application

    The first thing is to fill out the application online with the correct response in the boxes provided and we will be glad to walk you through it.

    Either way, we just need a little information so we know who you are, a bit about you, some details about your car, quite easy, isn’t it?

    STEP TWO – Provide A Few Documents

    Here you will have to provide us with a clear title to the car for registration and In addition to that title document, we will need to see a couple of other items to help us know who you are and where you live as this will help determine the type of loan to be provided for you.

    Your representative will tell you exactly what we need, but it will be simple items like your driver’s license and a utility bill or two, with no cause for alarm.

    STEP THREE – Get Your Car Inspected Online

    You have the option to stop by one of our multiple locations so one of our associates can take a quick look at the car to make sure it matches the title you are presenting.

    Our title loan representative will help you find the one nearest you, to reduce stress, you can simply upload the picture of the sensitive required part while we inspect from here.

    STEP FOUR – Pickup Your Money!

    Once we approve the loan, you can pick up your cash at the MoneyGram location nearest you! There are thousands all across the country.

    That’s it! No loans based on credit checks. No stacks of paperwork. No waiting.

    A car title loan is no doubt filled with lots of benefits. All conventional loans will require an examination of your credit history.

    But in this case, the vehicle equity will serve as collateral and in the event that a borrower does not repay, the lender can take possession.

    The loan is not dependent upon a borrower’s payment history. If you have a poor credit history, it will not affect your ability to take out a car title loan.

    Continue driving your vehicle. You may think you have to give up your vehicle to the lender while you repay the loan.

    That is not the case. You are able to keep driving your car or truck as you pay back the loan. You do give up the title to the vehicle until you make your last payment.

    TFC Title Loans offer reduced rates of interest when compared with other car title lenders. Since the title to the vehicle provides the lender with a layer of security, they can charge less in interest.

    What Are the Pros and Cons of Car Title Loans?

    A car title loan is a type of secured loan where borrowers can use their vehicle title as collateral TFC Title Loans we have been helping people since 1994 we will let you know the pros and the cons of car title loans.

    Are you in need of money as soon as possible? You may then consider offering your car equity as collateral for a short-term loan.

    After agreement to such a loan, the lender will place a lien on the car’s title, allowing him to repossess it if you stop making your payments. Mind you, every car title loan have their own pros and cons.

    PROS

    Car title loans are an excellent option for borrowers who need their money immediately. As soon as you and the lender agree to the loan amount and terms, you can receive your cash quickly.

    In many cases, you can walk out of the lender’s office with the money in hand on the day you apply for the loan.

    Apart from other types of financing, car title loans don’t have a complicated or lengthy approval process. Since you are offering a form of collateral, car loans are relatively easy to qualify for, even if you don’t have the best credit score.

    Many lenders will, in fact, provide car title loans without even a bad credit score or report. As long as you can show that you have a reliable source of income and a car worth more than the loan you are requesting, the lender will typically approve your loan application.

    If the lender places a lien on the car’s title but doesn’t keep the vehicle itself, you can continue to use the vehicle while making payments on the loan.

    There is the certainty of losing the use of the vehicle only if you default on the loan by not making your monthly payments and the lender repossess the car.

    CONS

    Car title loans often carry high interest rates. These rates are significantly higher than credit cards rates.

    Car title loans are also short-term loans, which means that they must be within 24 to 48 months. If you are unable to make your payments, late fees raise the balance even higher, and the lender will eventually repossess your vehicle, which leads to a host of other problems.

    TIPS FOR BORROWERS

    Additionally, carrying title loans can be sure to pose problems, especially if the interest rate is quite high.

    Before taking out a car title loan, consider less expensive options. Research on other consumer loans, credit cards, cash advances, and even loans from family and friends.

    If you must take out a car title loan, make sure that you understand the terms completely. Ask about the APR, as well as any fees that accompany the loan.

    Finally, make sure that you always make your payments on or before the due date to avoid paying additional fees to the balance, and you may even lose possession of your car.

    What Are The Steps On Getting A Bad Credit Emergency Loan?

    Sometimes you may have urgent and pressing needs that need to be met with funding. If those funds aren’t available, you might want to know how to get an emergency loan no matter what your location.

    Instead of going to a traditional bank to apply for a loan which will take weeks of paperwork and transactions before approval, which you do not have, why not apply for a car title loan with TFC Title Loans.

    How Do Emergency Loans Work?

    If you are going through some urgent money troubles, there’s light at the end of the tunnel. The title loan was designed for financial emergencies.

    Here’s how it works. A pink slip loan is a short-term loan that can be applied by diverse classes of individuals.

    If you have a poor credit history, if you’re dealing with bankruptcy or even foreclosure, you are still eligible to apply. This is because your history shouldn’t hinder you from fixing the present and securing the future.

    How Fast Can I Receive The Money From An Emergency Loan?

    A car title loan is a short-term loan hence it will require a small amount of time to be issued to you. It could take a few hours or a couple of days, but at TFC Title Loans you can apply for an RV title loan and receive it in as little as 15 minutes.

    This will be after we have gone through the stipulations you have provided concerning your vehicle and the loan.

    What Type Of Credit Score Do I Need for An Emergency Loan?

    This is dependent on your lender. Generally, the credit score of an individual isn’t meant to be considered for a car title loan, but other factors come into play.

    These factors include the worth of your vehicle because the more valuable your vehicle is, the lesser the risks bestowed on your lender, and the lesser the risks, the smaller the required credit score.

    Regardless of this, an individual with a credit score above 500 should be granted a Big Rig title loan form to apply.

    Any Other Factors that Could Help Or Hurt Me in My Application for An Emergency Loan?

    These include:

    • Your monthly income should be at least $1,200. It should also come from a stable source.
    • The car’s wholesale value.
    • Proof of insurance policy on the car.
    • Sizable credit scores

    Once you have verified all these, you can now apply for an auto equity loan.

    How Can I Apply for an Emergency Loan?

    Simply reach out to us via our toll-free phone numbers, and you’ll be connected to our representatives, you can also decide to do this via our website, either way, your approval is guaranteed.

    What Happens If Someone Defaults On Their Car Title Loan?

    What happens when someone defaults on a car title loan? What are the options? How do they get their vehicle back?

    Here at TFC Title Loans, we are here to help you to understand what happens in these situations, and how to protect the equity of your vehicle.

    Title Loan Defaults

    Car title lenders have helped out a lot of people with financial issues fix up and moved forward with their lives.

    With fast and easy steps to get title loans, it is important to know what you are getting into, and also how to get out of it.

    Choosing a title loan company that has multiple locations, and that have many years of experience will help you.

    The small title lenders are not as flexible, neither do they have the experience to help you to get back into your title loan if you have defaulted.

    Defaulting On Your Title Loan

    Car title lenders help make the process of obtaining a car title loan easier and faster. Car title loans are quick loans, also known as pink slip loans, which are gotten in exchange for your car as collateral.

    Make sure you know what you can do if making the monthly payments, are there any prepayment penalties? And how will it affect your credit score?

    Car title loans can be gotten using either a car, motorcycle, RV, truck, or Big Rig. The loan is given based on the equity (resale value) of your car.

    This loan, however, is meant to be paid back to the lender after a period of time, based on the agreed monthly payments.
    However, a lot of people are not knowledgeable about the consequences of defaulting on this contract and not paying their debt.

    What Is A Default On A Car Title Loan?

    After a loan is issued to an individual, which is usually the car owner, a monthly payment plan is agreed upon between the lender and borrower.

    This monthly payment plan is meant to be adhered to by the borrower, a default occurs when there’s a violation of the agreement.

    Any action that doesn’t connote with the laid down terms is a default on a car title loan. It could be a refusal to make the full payments of a loan, or a reduction of the monthly payment made.

    It could, also, be no payment at all from the borrower. Each of these scenarios is a default on a car title loan.

    What Are The Consequences Of Defaulting On A Car Title Loan?

    The consequences of defaulting on a car title loan are inevitable because it is all on contract.

    When you register for a car title loan, you make use of the title of the car, which allows the lender to sign in as the lienholder of the car.

    This leaves two options for the lender if you default on the repayment plan. He can either;

    • Make you pay any additional charges/penalties, which will be added to your loan.
    • Repossess your car, because he has the right to sell it to get his money back.

    Even though this is your fear, a lot of lenders would rather consider working with you to make your payment, because it is less strenuous.

    The process of getting your car, filing papers, and selling it at an auction is long and tiring, however, it does happen sometimes.

    What Happens If My Car Is Repossessed?

    Getting your car repossessed by a lender can be disheartening, however, there might be hope. If you’re late on payment of your car title loan, your lender will usually send you a notice for the repossession of your car.

    You can reach out to your lender and work out a payment plan that is suitable or possibly pays off some of the money.

    If these options are not possible, your only option is to hope your lender can auction your vehicle for a price above your loan.

    This money should, also, be above the fee spent in filing your papers as well. Your lender is legally obligated in some locations to give you whatever money is left from the money acquired after auctioning off your vehicle.

    Whatever the case may be, it is always advisable to call your lender the minute you realize you cannot keep up with the payments. Communication is always the best option in situations like these.

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