We are currently not providing car title loan services in this state. The information brought here is meant to explain in general terms what auto title loans are. You can still submit a loan request for installment loans with us.
Title Loans in Colorado
Even though it might be the first response, if you are out of cash for the month and payday is away, panicking won’t bring solutions for you.
Typically, there occur many situations where an unexpected expense can become a major setback in your financial setting and you are encountered with a cash crunch.
During those times, many try going to the big financial institutions such as banks and credit unions to borrow money and pay their bills.
However, their long queues and hefty paperwork can consume weeks and even months to get completed leaving people desperate to get some fast money.
For these situations, companies like 5 Star Car Title Loans bring flexible, quick, and easy personal loans where people can apply from their homes and get benefitted with extra cash within 24 hours.2
What is Auto Title Loans in Colorado?
Also known by other names such as pink slip loans or vehicle equity loans by residents of Colorado, auto title loans are collateral-based short-term lending options offered by certain financial institutions to help people avail instant money by using their vehicle’s title.1
In this type of personal loan, title loan lenders place a lien on the customer’s car title, and in exchange for taking up some equity in the vehicle, money is issued that can be used for several personal and household purposes.1
These online loans have a very simple application process and people may also get access to the loan proceeds in their bank account within 24 hours.2
Can I Apply For These Cash Loans Online?
Yes, You can!
After COVID, visiting public places is always dangerous. That’s why, Star Car Title Loans have started to provide online services for people of Colorado where people can check their eligibility1, submit documents, get their car inspected and receive the funds1 while sitting in their home.
For availing of online instant cash, you can go to the dedicated portal of 5 Star Car Title Loans and fill out a simple application.2
Requirements To Qualify for Online Title Loans, Colorado?
As the law and requirements vary according to your location, any applicant who wishes to get funded might need to check out the Colorado title loan laws and the below-mentioned conditions before applying.
Fundamentals To Be Eligible For Colorado Title Loans
- While applying for the car title loan, applicants should be 18 years or older
- Applicants need to be residing in Colorado state and should present supporting documents for that.
- Applicants need to present a qualifying lien-free car title registered in their name.
- Applicants should have a stable and constant source of income to demonstrate their loan affordability.
Once you fulfill all the above conditions, you can reach out to your local lender and apply for car title loans in Colorado.
List Of All The Documents For Getting Colorado Car Title Loans
To take benefit of affordable title loans, Colorado residents at the time of applying need to carry some basic documents with them. Here is the list of documents most Colorado title loan lenders ask for to approve your application and provide you with funds:1
- A qualifying title in your name
- Recent photographs of your vehicle from all angles ( including odometer readings and the VIN).
- Personal and/or professional references
- Proof of income
- A government-issued photo ID
- Proof of residence
Can I Keep My Car if I Get an Auto Equity Loan in Colorado?
You can keep driving your car freely wherever you want.
The auto title loan is secured against the title of your vehicle and a lien is placed claiming equity and giving you the fast cash you need.1
With 5 Star Car Title Loans, you’ll be easily able to access funds of up to 75 % of your car’s market value.1And while you pay back the loan, your car will be with you.4
Can You Avail a Title Loan on a Financed Car?
Car title loans are generally based on the ability to pay back the amount of market value of the car and car equity.1
Even if someone is financing a car and have some installments pending on it, they can have a good amount of equity in their vehicle and against that equity can easily qualify for a car title loan.1
What If I Have Bad Credit? Can I Still Get Title Loans in Colorado?
Yes, even if your credit score is bad and your credit history is poor, there’s still a chance for you to get funded using car title loans.
Even though some lenders might perform routine credit checks, your credit score will not be the topmost deciding factor.1To access and be eligible for auto title loans, customers need to have a qualifying car with good market value and a stable income source to pay back the amount.
At 5 Star Car Title Loans, we consider several factors and focus on helping people get approved for a title loan without filling in tons of documents or showcasing an impeccable credit history.
If an applicant can showcase a strong ability to repay the loan on time and possess a good amount of equity in the vehicle, they can be financed for a quick personal loan despite having a poor credit score.1
Can I Get A Title Loan Without A Traditional Job?
As people are becoming more internet savvy and learning about financial education, many of them have started making their income from various sources other than doing a traditional 9-5 job.
We at 5 Star Car Title Loans understand the changing dynamics and thus offer other options where people can get funded without even having a job. Here are some of the most common scenarios:
- Pension from a government entity
- Worker’s compensation
- Passive income from rentals etc.
- Enough savings in the bank
Are There Any Prepayment Penalties?
No!4 Pending debt is something no one likes and we at 5 Star understand that.
That’s why our team has created a smooth and seamless repayment method where people can opt for a convenient repayment schedule and slowly pay back the loan amount in monthly payments.1
And in addition to assisting them, we don’t charge any sort of hidden fees or prepayment penalties, so that even if they want to take off their debt early, they can do that without any inconvenience.
Do You Need Extra Cash to Tackle Monthly Bills?
Financial emergencies are something any earning individual at any place can encounter and regardless of your income, the stress of not paying monthly bills is the same for most.
During those times, you can contact the 5 Star Car Title Loans in Colorado and take our help to get fast cash loans and pay for your household needs.