What Are Vehicle Title Loans?
A vehicle title loan, also referred to as a car title loan or an automobile title loan, is a form of equity loan that uses your car, truck, SUV, motorcycle, plane, train, helicopter or other vehicle with a title as collateral to borrow money.
In plain English, you temporarily trade the title of your vehicle to the lending company in return for a loan pegged at a percentage of the current market value of your vehicle.
If you need money now, Car Capital Financial can get you cash in as little as 30 minutes from receiving your phone call, but best of all, we won’t make you leave your vehicle with us! When looking for used vehicles for sale in your city, always be sure to read reviews to get a good feeling for the dealership prior to purchase. Call us now at 1-888-500-9887 for details.
Vehicles We Offer Title Loans On
- Cars
- Trucks
- SUVs
- Commercial vehicles
We can offer a loan on any sort of vehicle that has a title, as long as it’s fully paid off, or close to being paid off.
The Value of Title Loans
Vehicle title loans are an extremely quick way to come up with cash when you need it badly. The funds can typically be accessed within minutes of contacting a lender, as opposed to the days or even weeks it can take to process a traditional bank loan.
This quick process can be particularly handy when financial emergencies crop up, like if you need money for rent or if you need help raising money for the holidays.
Title loans provide one of the fastest and most reliable ways to get access to emergency cash, regardless of your credit score.
How Can I Get a Title Loan?
Obtaining a title loan is usually an extremely simple process, especially in California. In fact, our state even allows you to get approval for a title loan without having to visit the lender in person (though typically only extremely shady title loan companies will offer this service, as it’s far riskier for them to lend money out on vehicles they haven’t even seen in person).
Most title loan companies will require that you have either paid off your car entirely, or that you have at least build up positive equity in your car, otherwise they won’t be able to offer you any money since you don’t really ‘own’ your car’s title. To qualify for a title loan, you’ll likely have to provide your social security number, drivers license, and address, so have this basic information at hand when you contact a lender. Title loans are issued based on your ability to repay the loan.
The process of getting a title loan can be as fast as 30 minutes, but make sure you choose to take a loan from a reputable company or you may find yourself regretting it later.
The Pros and Cons
Here are the most common pros and cons associated with vehicle title loans:
The Pros
- Vehicle Title Loans are one of the quickest solutions for getting access to cash quickly. If you desperately need emergency money, then a title loan may be your only option.
- Your Credit Score doesn’t matter with a title loan. Title loan companies can offer you loans without ever having to check your score, so bad credit isn’t really an issue here.
- You Still Get to Drive Your Car. Obtaining a title loan doesn’t mean you’re selling your car, but doing something similar to pawning it. As long as you keep making loan repayments on time, you will retain access to and possession of your vehicle, if the lending company offers this (make sure to ask!).
- You Don’t Risk Losing Your Home. While you could lose your home from defaulting on other types of equity loans, and particularly with mortgages, you don’t risk losing your house with a car title loan.
The Cons
- You Could Lose Your Car if you don’t make regular repayments to your loan. This could spell disaster if you need your car for getting to work or to school, so only consider this loan option if you’re virtually sure that you’ll be able to make repayments on time.
- You’ll Be in Debt until you’ve paid the loan back in full. There’s nothing wrong with being in debt, as long as you aren’t digging yourself into too deep a hole to ever get out of, but make sure to consider long term implications of taking out another loan.
- You’ll Only be Awarded the Value of Your Car which may not provide you with enough money, depending on your unique situation. Unless you own a luxury vehicle, you may need to shop around for a different type of loan if you’re looking to borrow a massive amount of money.
Why Call Car Capital Financial?
If you’re looking for a vehicle title loan in California, then you need to call Car Capital Financial right now!
We have extensive experience in the industry, having served affordable vehicle title loans to Southern California residents for over 17 years. If you need a title loan in San Diego, Orange County, Riverside County or Los Angeles, then we are here to help.
Most of our loans can be offered without a single credit check and some of them have been issued in as little as 30 minutes from receiving the first phone call. If you need immediate financial assistance, please call us now at (888) 500-9887.