How Do Car Title Loans Work in California

Daniel Joelson

Daniel Joelson

Total Posts: 284

Published Date: April 7, 2023

Daniel Joelson has been in the consumer finance space since 1994, he has helped to develop underwriting manuals for the financial sector. With a vast amount of Knowledge in consumer finance, he has been writing articles for all types of loans. With his knowledge, he is able to help many people to answer different financial problems.

The Way California Title Loans Work

If you want to know how car title loans work in California, we are here to help you, answer all of your questions, and guide you do the right path for successful title loans in California.

The way that California car title loans work is that you must have a car that has enough wholesale value, with that value the lender will advance anywhere from 50% to 80% of the wholesale value.

In California, title loans do have a minimum amount of $2500, so the wholesale value needs to be about $4,000 and up. There are limits on how much title loans in California can go to.

As long as you have the equity value in your vehicle, you will get pre-qualified, but you will also need to show that you will be able to make the monthly payments, and this is done with your proof of income.

You will also need to have the vehicle title in your name, as the title will be the collateral for the loan, and the lender will need to add their name to the title.

How Do California Title Loans Work

Your proof of residence is also required, you can do this by providing a utility bill in your name and going to your home address, you can use any current utility bill as proof.

You will also be required to send in photos of your vehicle, and they will need to be detailed, they will need to show the overall condition of the vehicle and will need to photograph the mileage on your car.

It is important that you have insurance on your car, the lender will require that they are added to the policy as the loss payee, so if your car is in an accident or stolen, the lender will be covered, and you do not have to worry about how to pay off your title loan as the insurance will do it.

Personal references will be needed, most lenders will require up to 5 personal references, you will need to give the full name, address, and phone numbers of all references.

Car title loans in California are legal, but all lenders need to have the correct state licenses, and the license needs to be with the Department Of Business Oversight.

Auto title loans in California are highly regulated, and the are minimums as to how much you can borrow, and that is that all loans start at $2,500.

So the wholesale value of your car will need to be close to $5,000 for you to qualify. In many other states, there are no minimum amounts. Also, the interest rates are restricted too.

How do car title loans work in California?
How do title loans work in California?

Getting Your Auto Title Loan in California

When we help you to get your auto title loan in California, we will get you one with amortized monthly payments, so your principal balance will be lowered each month when you make your payments.

There will be no balloon payments, and no short-term title loans, the terms will be from 24 months to 48 months long, and this help to keep the monthly payments affordable. They will also have no prepayment penalties.

With all of these requirements met you will be able to get the California title loan that you need. You will need to make your monthly payments, and they will reduce your interest and your principal balance.

We can also help you to get California motorcycle title loans, we will use the equity in your motorcycle, the same way as we will use your car equity.

The process for motorcycle title loans in California is the same as a car, we will use the same application, and we will require you to submit the same documentation.

You will be able to pay off the auto title loan in California at any time, with no penalties, so contact us today, and let us help you to get into the right online vehicle title loan in California today.



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DISCLAIMER: As our policy to make sure you know what we do and what are our limitations, we offer you these disclaimers. We are NOT A LENDER and we do not make short term cash loans or credit decisions. We are a referral service and work only with licensed lenders/brokers.

We may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. We do not offer or service student loans.

*Loan amounts by the lenders vary based on your vehicle and your ability to repay the loan.

*Since we do not lend money directly we cannot offer you a solicitation for a loan, except in the state of California. In all other serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans and Auto Title Loans are not available in all states and all areas.

*Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan.

*All lenders are responsible for their own interest rates and payment terms. TFC Title Loans has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

*The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you.Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically larger loans or higher risk loans use a GPS.

*In some circumstances faxing may be required. Use of your cell phone to receive updates is optional.

*Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

*Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.

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