Self Employed Car Title Loans

Daniel Joelson

Daniel Joelson

Total Posts: 351

Published Date: February 8, 2024

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.

Are you a car owner looking for a way to secure quick cash? If you are self employed and need financial help, self employed car title loans could be the solution for you.

Let’s look deeper into what these loans are, how they work, and what you should consider before applying.

What Are Self Employed Car Title Loans?

Self employed car title loans are a type of secured loan where you use your vehicle’s title as collateral to borrow money.

Unlike traditional loans that require a steady job or income verification, these loans leverage the equity in your car to determine your loan amount.

How Do Self Employed Title Loans Work?

The mechanics of self employed title loans are similar to regular car title loans or title pawn loans. You provide your car’s title as security for the loan, allowing you to access funds based on the vehicle’s wholesale value.

The loan is typically repaid through monthly installments over a specified period, usually up to 24 months.

Self employed title loans
Qualifying for self employed title loans

Benefits of Self-Employed Auto Title Loans

Self-employed individuals can benefit from car title loans in several ways:

  • Flexibility: You can qualify without traditional employment verification.
  • Higher Loan Amounts: The loan amount is based on your car’s equity value, allowing for larger sums compared to personal loans.
  • Vehicle Retention: You can continue using your car for daily transportation while repaying the loan.

Risks of Self Employed Title Loans

Before pursuing a self employed title loan, it is crucial to consider the potential risks involved:

  • Risk of Repossession: Failure to make timely payments can result in the lender seizing your vehicle.
  • High Interest Rates: Car title loans often come with higher interest rates than traditional bank loans.
  • Credit Impact: Defaulting on the loan may negatively impact your credit score.

Factors Affecting Loan Amounts

The amount you can borrow with a self-employed car title loan depends on various factors related to your vehicle:

  • Car Make and Model: Luxury or newer vehicles generally command higher loan amounts.
  • Car Condition: Well-maintained cars with minimal wear and tear hold greater value.
  • Title Type: Lenders prefer clean titles with no outstanding liens or previous damage.

Applying for Self-Employed Title Loans

To apply for a self-employed car title loan, follow these steps:

  1. Submit an Application: Complete an online application form with a reputable lender.
  2. Provide Documentation: Prepare proof of income, such as tax returns, bank statements, or business financial records.
  3. Wait for Approval: The lender will review your application and assess your eligibility based on the provided information.
  4. Receive Funds: Upon approval, the lender will deposit the loan amount directly into your bank account.

Conclusion About Self Employed Auto Title Loans

Online self employed auto title loans offer a convenient way to access to immediate cash, especially for individuals with irregular income streams.

It is important to weigh the benefits against the risks and explore alternative financing options if necessary.

Contact TFC Title Loans for personalized assistance and guidance in navigating the process of securing a self employed car title loan.

We will be you title loan broker, and with our network of lenders, we will make sure tht you get the right loan for you.

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Disclosures

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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