Quick loans are available for car owners that are easy to get and convenient to apply for. They are great for any credit type, since the loan approval takes into account the value of a vehicle that you own. By turning in the car title to the car title loan company, the consumer can keep driving. There is no requirement to turn in your car when if approved for title loans online with instant approval.
There are options of submitting a loan application to a traditional financial institution or to an online lender. You can check out the pros and cons of each one, but online loans are especially popular due to their speed and convenience.
Whichever route you choose when applying for title loans, you can use the loan proceeds for anything you want. Lenders understand that consumers can get into financial difficulties and need money very quickly. Online title loan companies will not tell you how to spend your money – that is best left to the borrower.
So if you have an emergency expense that cannot wait, a bill that is due or some important medical situation, you can consider applying for title loans online with instant approval and no credit check for a fast reply.
How Title Loans Online – Instant Approval Work
When you are hit with a pile of bills that you had forgotten about or you suddenly need to call a repairman to your home or apartment, you need to find a way to get a fast cash advance. Title loan lenders understand that and have put together an easy way for consumers who are in a tight spot to get quick cash.
Beginning with the basics of online title loans, the minimum age for sending in a loan application is 18 years. The other important detail to note is that you must own a vehicle that has good equity. If it does, then the lender can use that equity to approve you for a secured loan.
Keep in mind that you must actually own the car you want to use as security. Go ahead and check the vehicle title before getting started with your online car title loan to be sure it’s actually your name listed as the vehicle’s owner. If it is, then you’re good to go.
If you are going through a traditional lender, such as your local bank or a credit union you belong to, you’ll need to coordinate your application with the days and hours they are open. You might need to make an appointment beforehand.
For anyone who can apply to an online title loan company, they have the ability to do so at anytime during the day or at night. The times and days for sending an online application are not relevant. You would be submitting the loan application through the online lender’s website, which is always open 24/7.
For whichever type of financial institution you choose to go with, you’ll need to complete an application form with your basic personal details as well as the information on the vehicle you own. According to the information you submit, the lender will assess your credit.
Following a quick credit review, you will learn if you have been pre approved for an auto title loan. If you are pre approved, you will get a preliminary loan agreement. Take some time to read the details and terms of the agreement. If you want to go ahead with the title loan, then sign it and return it.
When you get final approval and have submitted your valid vehicle title, you can keep your car and get the cash. The money is yours to spend as you wish. When you finish making all the title loan payments, you can get your title back.
Preparing Your Vehicle Title for a Secured Loan
Preparing your car’s title before beginning the online title loan process will save you a lot of time during the approval process. If you want your money quickly, take the time to check your title before beginning.
The title must be in your name only. If someone else’s name is on the vehicle title, you cannot use that vehicle for loan security. If the car’s previous owner’s name is on the title, possibly the title wasn’t properly transferred to your name when you made the purchase. This should be solved by taking your proof of ownership to the DMV. You may have to pay a fee, but they can help you with this.
If the loan company’s name is on the title, check with them that you finished making all the car loan payments. If they are nearly finished but not quite, reach out to your online lender for help. Sometimes they can work with a title that is nearly paid for.
Also, while you’re checking, be sure that your name is spelled correctly and there are no mistakes. If you lost your title or it is damaged, you can ask the DMV to supply you with a new one. Again, you could be charged a fee for this service.
When your title is correct and free and clear of liens, send in your loan application for a quick lending decision.
Instant Approval of Online Title Loans with Bad Credit
Life doesn’t always go the way we hope it will, and sometimes cash problems can appear when they are least expected. If you think you’re the only one who has trouble making ends meet or has a poor credit score, you are not.
Many people run into financial difficulties at one point or another. Once you get through such a difficult situation, you might be stuck with a bad credit score. With a bad credit score, it can be complicated or impossible to find a traditional financial institution that will approve you for a fast loan.
With online loan companies, consumers with any credit history or credit score are welcome to send in an application. That is partly because online lenders use a different approval technique, which takes a look at the whole financial picture of a customer. Online lenders don’t rely merely on a consumer’s credit score.
Whatever your credit score is, go ahead and send in your online application for a bad credit title loan. The lender will evaluate your vehicle, your ability to pay and if you meet the online credit criteria. If all 3 of those factors go well, you could get final approval and a quick cash advance.
Advantages of Getting Title Loans Online with Instant Approval – No Credit Check
Although the sheer convenience of working with online lenders is one of the most popular aspects, there are many reasons consumers turn to online title loan companies for quick cash. It is understood that consumers who are requesting auto title loans want and need the loan proceeds quickly. Online lenders are always available and will jump right on an application. There’s no waiting or wondering what will happen with your loan – you’ll receive a fast reply.
To compare options when applying for car title loans, review these advantages:
- Quick response when you apply online for car title loans
- Many credit types welcome to apply online
- Speedy application and title loan approval process
- Fast funding after final approval
- Apply anytime, whether it’s daytime or during the night
Requirements for Online Title Loans, Instant Approval
There are a few documents that will be requested when you apply online for car title loans. They are simple documents that you have in your glove compartment, your mail or files in your home. When you pull all of these pieces together ahead of time, you’ll fly through the credit review and loan approval.
Information to prepare when applying for 24 hour instant approval of online title loans:
- Car or vehicle registration and title – Your registration needs to be up to date with you current state of residence. The vehicle title needs to show your name as the owner and be spelled correctly. If there are any errors in your title or you name isn’t on it as the current owner, go to the Department of Motor Vehicles in your locality to have it corrected. Some things can be done on the internet but others will require you to visit the DMV. If your title is lost or damaged, you might be able to order a replacement online.
- Photo ID – An identification card with your photo, which has been issued by the government, is required. The most common forms of ID for this purpose are driver’s licenses, state IDs or passports.
- Proof of income – As part of the pre approval process, the lender will need to verify all of your sources of income. Make a complete list and include everything you receive each month, whether it’s from your job, government subsidies, insurance or freelance work as an independent. Make copies of your salary slips, documents, recent bank statements or whatever you have as proof. If you’re an independent worker, you might need to get a monthly salary by taking the average of the last 3 months.
- Private bank account – In order to deposit your loan amount into your bank account quickly, send the details with the name of the bank and your account number. If more details are needed, your lender will let you know. Consider using your bank account to set up automatic monthly payments. This will not only save you time, but you won’t have to worry about remembering to send your monthly payments on time. This could protect your credit score as well as save you money you might be charged for late payments.
- Your place of residence – To prove that you are a resident of the state where you are applying for a car title loan, send in a piece of mail with your name and address, a bank statement, a rental contract, a mortgage contract or deed to the property or a utility bill. Any of those items should show your name and address.
- Details of the vehicle you own – Which ever vehicle you want to use for a secured loan, you’ll need to send in all its details. This is so the lender can accurately determine its value. The required information includes the car model, its maker, the year and odometer reading. Include other information that might affect its value, including its general condition, how many owners its had and if it has been in any accidents. Current photos can help, as well as an inspection.
By sending in this information, or at least having it ready to send, your loan approval can go quickly. Your lending decision and the final loan amount, whether you are approved for the minimum loan amount or the maximum loan amount, will depend on the information and proof that you submit.
How to Repay Car Title Loans
After you have received your cash advance and 30 days have passed, your first payment will be due. The details will be written in your loan contract, but it is normally due 30 days from the time you sign it.
If you are repaying financial institutions, you might have the option of going there with cash in hand. Other options usually include mailing a check or going to a MoneyGram location. Some lenders allow you to pay in cash at a store front.
For an easy way to send in your monthly payments, you can set up an electronic payment system that goes from your bank account. Set the date that you want the payment to be sent, and then no worries! It will always be there when it is due so you don’t have to worry about late or forgotten payments.
Calculating Payments for Title Loans Online with Instant Approval
Whatever your credit history is, whether it’s good or bad, it’s important that you will be able to abide by the terms of the loan agreement. A good way to find out how much you can afford is by using an online loan calculator or a budget calculator. When you take a cold, hard look at your income and expenses, you will know realistically how much cash you have each month to put towards your auto equity loan payments.
- Beginning with the amount of income you expect to receive on a monthly basis, put that into the loan calculator. Include all of your income, but it should be realistic. Put down what you actually receive, not what you hope you will receive! You can check back over the last few months on your bank statements so you don’t leave anything out.
- Now sit down and total up your expenses for each month. Include everything, such as car maintenance and insurance, home or apartment maintenance and insurance, mortgage or rent payments, utilities, gas, groceries, lunch money and monthly payments that are due.
- After subtracting the expenses from the income, you can see how much is available each month. This will help you know how much money you should borrow with online car title loans so you don’t get stuck with high automobile title loan payments.
If you don’t have enough for the payments on the personal loan, consider which expenses can be reduced or where you might be able to receive additional income. Play around with the figures until you arrive at a comfortable payback loan amount for a vehicle title loan.
Which Vehicle Types Can Be Used for Secured Loans?
Basically, any vehicle which is totally owned by you, has adequate unused equity and has a title in your name can be used for a secured loan. To borrow money, this includes vehicles such as:
- Private trucks
- Personal cars
- Recreational vehicles
Send in the necessary details to your online title loan company and find out how much cash you can get. If your vehicle meets the requirements for title loan collateral, the loan agent or online lender will get back to you with a fast answer for a bad credit loan.
Sending in an Application for Instant Approval of Online Title Loans Today
Title loans online are a quick and simple type of personal loans that you can easily qualify for, no matter what your credit background is. That is simply because the value of your vehicle will be used as loan collateral. All that means is that if you are unable to fulfill the obligations of the instant online title loan, the lender will have the option of keeping your vehicle. The lender can sell it off to cover the loan expenses and unpaid payments.
At 5 Star Car Title Loans, we pay attention to the details of every online title loan application. We are quick to review the credit and make fast lending decisions, so you won’t be left waiting for an answer. Our customer service team is available to help with every online auto title loan inquiry.
For your quick cash advance that you can use for any need, reach out to the 5 Star Car Title Loans team today. Get the cash you need to cover emergencies now!