5 Star Car Title Loans in Hillsboro, OR
When your regular expenses keep on fluctuating and bills start piling up, you may sometimes need to look for borrowing options to cope with financial difficulties. While you may ask friends and family for help, it’s not always an option. So what should you do?
If you have a good credit score, getting a personal loan from the bank may help you manage the situation. However, if your credit score is bad and your options are limited, you may have to turn to third-party lenders such as 5 Star Car Title Loans for immediate financial assistance.
5 Star Car Title Loans provides short-term quick lending options in the form of collateral loans known as car title loans across Hillsboro, OR. These loans can help you quickly arrange cash whenever any financial emergency may arrive.
What is a Car Title Loan?
A car title loan (also called auto title loans, auto equity loans, or pink slip loans) is a small loan that is granted based on your car’s value by putting a lien on the car title. It means that the lenders gain temporary ownership over the car title.
However, you don’t need to submit your vehicle to lenders for the title loan. The lien is only placed on your vehicle title. Thus, you can drive your car around Hillsboro, Oregon, as you want as long as you don’t miss any installments during repayment.4
Additionally, title loans work much faster and conveniently for people with poor credit scores1, who can’t get approved for traditional bank loans. In that case, you can acquire the needed funds quickly2 by applying for an online title loan from 5 Star Car Title Loans in Hillsboro, OR.
Apply for a Car Title Loan in Hillsboro, Oregon, in 3 Easy Steps!
The process for acquiring title loans in Hillsboro is pretty quick, convenient, and smooth. You don’t need to go through the hassle of standing in lines or even visiting the branch of 5 Star Car Title Loans. Our process is fully online, just follow these simple steps:
Online Title Loan Application
First, you need to submit your title loan application which requires filling out an e-form available on our website. We just need your basic details and vehicle information for a quick assessment of your eligibility for title loans.
Submit Documents
Next, you need to submit a couple of documents including your ID proof, income, vehicle-related documents, and other relevant documents. Our team will conduct a document verification for the final approval.1
Get Your Money!
If you successfully fulfill the required eligibility criteria, you will be given the final approval and receive a title loan contract specifying loan terms. You need to express written consent by signing the contract and you can expect the loan proceeds in your account within 24 hours.2
What Do I Need To Apply For a Loan Online in Hillsboro?
Title loans don’t require hefty paperwork or long processing time. You only need to submit a few documents as listed below:
1. Valid Driver’s license
You need your ID proof such as Hillsboro, Oregon-based driver’s license. In addition, your passport or other govt. issued photo ID proof can also be accepted. These are required to ensure that you meet the legal age criteria and are eligible to have your own car.
2. Car Title in Your Name
It is mandatory to submit the original lien-free car title under your name for obtaining an auto title loan in Hillsboro. Thus, you cannot submit a copy of the title.
Also, if your car title is registered under someone else’s name, you will need to apply for a title transfer before applying for auto title loans from 5 Star Car Title Loan.
3. Car Registration and Insurance
Your car must have a valid registration in Hillsboro, OR. In addition, some lenders may also require car insurance documents along with car registration to ensure any repairs during the loan term will be covered by insurance providers alleviating lenders’ liabilities.
4. Income Proof
One of the top criteria to determine your eligibility for title loans is your repaying ability. Thus, you must provide relevant income proof to demonstrate your ability to repay. You can submit your salary statements, pension, income from any business owned by you, etc.
5. Residence Proof
Your utility bills, credit card bills, acceptable property documents, mortgage, or rental agreement may also be required as residence proof. It is because each state has different rules regarding title loans. Thus, it helps determine the loan terms.
6. Pictures of Your Vehicle
The actual loan amount is determined based on your vehicle’s market value as per the current market conditions. Thus, a vehicle inspection will be needed. However, you don’t need to visit us for an in-person vehicle inspection.
You can simply upload the latest pictures of your car including its VIN and Odometer reading. Our team will use these vehicle details and images for the online inspection and let you know how much cash you can borrow.1
If you want to get started with your title loan process, give us a call at (888) 309 0994 for a consultation today!
Do I Need a Credit Check to Get a Car Title Loan in Hillsboro, Oregon?
Title loans are usually given by third-party lenders which usually don’t run a comprehensive credit check. While lenders may require your credit history to determine if you meet the lender’s credit criteria, a credit check isn’t mandatory in most cases.
The main concern for lenders is your ability to pay the loan amount back on time.4 Thus, if you have a stable income source, you can get title loans in Hillsboro even without a credit check.1
Does a Title Car Loan Affect Your Credit Score?
Unlike banking institutions, third-party lenders don’t keep any national database or track the credit scores of their clients. Title loans are given based on your car title as collateral. Thus, these are issued regardless of your credit score.1
As a result, they don’t positively or negatively impact your credit score. However, if you can’t repay regular installments, you may lose your vehicle as the lenders may sell your car title to recover the loan amount.4
Thus, it is best to discuss the repayment terms and opt for a low installment plan to ensure paying scheduled monthly payments on time.4
Can I get a Title Loan with Bad Credit?
Yes, you can!1
Although taking a personal loan from the bank is a great long-term financial solution, a bad credit score becomes a huge hindrance in obtaining traditional bank loans in Hillsboro, OR.
However, title loans can be acquired even with bad credit, thus, they are considered ideal for people with bad/no credit.1 Moreover, you don’t have to give up possession of your vehicle to the lender directly unless you make a default on loan repayment.
For obtaining loan approval despite bad credit, you need to provide sufficient proof of stable income.1 Thus, whether you work in an office, own a business, or are unemployed, you can submit relevant bank account statements as evidence of your income.
Here are the acceptable income proofs you can submit to get a title loan:
- Salary stubs
- The financial records of your business
- Income from any rental properties you own
- Income from a side hustle
- Unemployment, Social Security, or other financial benefits
- Monthly payments from a trust fund or inheritance money
- Income from any other type of alternative income source
Can I Get a Title Loan on a Financed Car?
Title loans are given on lien-free titles.1 However, if you already have a loan on your car from a bank or another third-party lender, it means your car title won’t be 100% lien free. In that case, it can be challenging to get a title loan.
You might be eligible for the title loan if you can pay off the remaining amount quickly and get 100% car title ownership. Although some lenders may allow you to get a title loan if only 1-2 installments are pending.
Therefore, you should consider consulting with our experienced loan officers to know whether you can qualify for a title loan. Simply call us at (888) 309 0994 to discuss your loan requirements and apply online for an estimate today!
How to Repay the Title Loan?
You can pay off the title loan in convenient monthly installments via any of the following modes of payment:
- Pay through our website with an online payment app
- Give us a call and pay with your debit/credit card
- Pay using a money order
- Send the payment check by mail
- Send money from your closest MoneyGram location
- Pay via a direct deposit at your nearest bank branch
- Set up automated payments from your bank account
- Deposit cash payments
It is crucial to pay the monthly installments on time to keep driving your car and prevent it from being seized by lenders.4
At 5 Star Car Title Loans, we help applicants choose a customized repayment schedule and low installments to minimize the risk of default payments.
Apply for Fast Cash Title Loans with 5 Star Car Title Loans
Need easy funding without the hassle of extensive credit checks or a lengthy loan process? Apply for a title loan in Hillsboro, OR, from 5 Star Car Title Loans for quick funding in a short time.2
We specialize in providing emergency funding to borrowers even if they have a poor credit history. We financially assist applicants residing anywhere in Hillsboro or nearby locations across the U.S.
So, when you can’t wait for bank loan approval and need instant money, don’t hesitate to reach out to us. Simply give us a call at (888) 309 0994 and get a title loan at competitive interest rates!
Advantages of Getting a Title Loan from 5 Star Car Title Loans
There are many benefits of choosing title loans from 5 Star Car Title Loans in Hillsboro, OR, such as the following:
Quick and Easy Application Process
You don’t have to go through a complicated application process when applying for a title loan. Our online title loan process is straightforward and only requires a few steps.2
Get Fast Approval
You don’t have to wait long to get your title loan approved in Hillsboro.1 You can get the approval much more quickly by timely submitting the required documents within a business day.2
All Credit Scores Accepted
Whether you have a perfect credit score or poor credit, it doesn’t matter. We provide quick title loans to applicants with all types of credit history1 as long as you can provide sufficient evidence of a stable income source.
No Lump Sum Payments
Unlike payday loans, you don’t need to pay us back at once in a lump sum payment at the end of your loan term. Instead, you can choose to pay in monthly installments over a period ranging from 3 months to 12 months as per your repayment schedule preference.4
Get Instant Cash with Online Car Title Loans in Hillsboro, Oregon!
If you are stuck in a tight spot financially and need cash fast for managing your expenses, 5 Star Car Title Loans has got you covered. We provide on-demand quick title loans based on your short-term financial needs within record time!
Give us a call at (888) 309 0994 and schedule a consultation with an experienced loan officer today!
