Important Facts About Car Title Loans
An auto title loan is a form of short-term lending where the creditor can take your car if you cannot pay the money on time. You can ask for up to $30,000 using our loan request form. You may still qualify for a car title loan even if you have failed to receive similar products in the past.
How to Use Your Car as Collateral
You can use your car while paying back a title loan. As long as you pay the loan back on time, your automobile will never stop being yours to drive. While it is true that the lender technically owns your car while you are paying back the loan, they will let you keep driving it. You may lose your car if you cannot pay back the money.
Pump the Brakes on Bad Credit
Those with a poor credit history are much more likely to find funding when they offer collateral, like when you secure your loan with your car. Since you are securing the loan with your car, there is less risk for the lender. If you default on the loan, the creditor can turn around and sell your car to make up for the loss. Lenders tend to offer up to half the value of your automobile, regardless of your credit situation.
Our Process
Our service is completely free. We exist to help you find a car title loan. It all starts when you fill out our safe and easy request form. Once you submit the brief online questionnaire, we process your answers and try to connect you with one of our lending partners. It should only take a few minutes to see your on-screen results.
The form is short and only includes a few short sections: vehicle information, personal information, and employment information. Your data will remain safe thanks to the latest encryption technology. Please note that while we do provide a loan request service, we are not a lender.
The TitleBanko.com Advantage
Our service is only as good as the lenders we work with. That is why we put a lot of work into maintaining a solid network of reputable providers. On top of that, our technology makes it very easy to request a loan.
Car Equity Loans
Your car doesn’t have to be fully paid off to use it for an auto title loan. A lender may be willing to offer you cash based on how much equity you have in your car. In this case, you should expect the loan to be worth less than half the equity that you have in your car.
What is Required
Auto title loan providers may ask that you meet the following requirements:
- You are at least 18 years old.
- You generate enough income to pay off the loan.
- You own or have equity in a car, truck, or motorcycle.
The actual requirements to be eligible for a loan vary by lender.
Pedal to the Metal
Short-term funding means getting your cash fast. We can help you get started by trying to connect you with a lender within just a few minutes. If approved, it could take as little as one business day for the funds to transfer into your account.
Reasons People Take out Car Title Loans
Bad credit loans tend to be sought out by those who need emergency money. Although there are other reasons why people request this kind of funding. These are some of the reasons why consumers use TitleBanko.com:
- Pay off previous debt – Due dates can sneak up on you, and it helps to have a plan to avoid defaulting on a loan. While rolling over a loan is never a good idea; it is sometimes necessary to avoid the collection agency.
- Business expenses – Did you know the first Carl’s Jr. was funded with a car title loan? It’s not uncommon for businesses to borrow money during gaps in revenue. Title loans are one option for getting working capital.
- Medical bills – Whether you are waiting on the insurance money to come in or you need to pay a bill that the insurance will not cover, you may be able to get the cash faster with short-term funding.
No matter what reason you need money in a hurry, we are ready to help. Fill out our form right now to see if we can connect you with a reputable lender.
