How to get a title loan online or in-person
We have all been in that unfortunate scenario. You know, the one that leaves you needing just that extra bit of cash to pay that bill, emergency payment, or even just to hold you over till the next paycheck. Online title loans are now becoming one of the leading forms of emergency finance for customers who find themselves needing that extra bit of cash. Title loans online are unique to other loan types, because they allow the customer to receive the cash they need even if they have bad credit or low income.
Typical loans require that the customer have an extensive credit history and income, and usually take much longer to finalize as the lender must do many more background checks. A title loan online or in-person even allows you to keep your vehicle while you are making payments on the loan. Title loans are also known as pink slip loans, title pawns, or auto equity loans.
Why are online loans becoming so popular?
Online title loans are becoming increasingly popular, because lenders are realizing that customers are wanting their money as fast as possible. The stress of looking for a loan or other form of emergency cash is stressful enough. We realize that many customers don’t have enough time at the end of a long day to stay on the phone for hours or call multiple different lenders trying to be approved for a title loan. Whether you are searching for an online title loan to pay rent or an emergency bill. We know you need the cash now.
One of the most intriguing things about online title loans is that they can be completed the same day you apply. Luckily some lenders have realized these customer needs and decided to help expedite the process by collecting documents online through email or text. This means all you need to do is send in a few documents to the lender, such as proof of income and vehicle insurance to be approved.
Where do I get a title loan?
These days, you can likely get a title loan from many different locations throughout your city. With all of these different options, Trusted Title Loans makes it our priority to make sure that you as a customer and getting the best deal possible. Title loans have gotten a bad rep over the years, because in the past many companies took advantage of customers by charging them way too much interest.
With online title loans becoming increasingly popular, it gives you to opportunity to find the best possible lender without breaking your wallet. If you are looking for either an in-person or online title pawn, make sure that you find a reputable lender who is not afraid to answer any questions you may have. Many lenders will pay the customer in cash, moneygram, or cashiers check depending on where they are located. Ask them and pick the most convenient option for you.
3 Tips to finding the best possible title loan option
#1 – Pick a reputable online title loan lender
Before signing any final loan documents, it is important to have all of your questions answered first. At Trusted Title Loans, we took the strategy of compiling all of the top lenders in the nation, meaning that no matter which one you chose, you are getting the best deal for your area. All states have different regulations when it comes to lending money through auto title pawns, both in-person and online.
With these constantly changing regulations, it makes it hard for the consumer to make sure that they are getting the best deal possible. Our database of trusted lenders means that you simply need to pick the best title loan company in your state. Some of our top options even service all of the United States, for both online title loans and at locations near you. Most reputable title loan lenders will even report back to credit unions meaning that with each successful payment you could be raising your credit score.
Every dollar counts – Save money by applying to a reputable title loan company
#2 – Have your documents ready
Online title loans are made to be the most convenient and fast loan products available on today’s market. The application process can take as little as a minute and you can receive your funds in the same day. Many online title pawn lenders only need to know a few things, such as your vehicle and income information. After your application is completed, the lender will reach out to you and ask you a few more questions about your vehicle and income. They are ensuring that they loan you an amount that you are comfortable with repaying and meeting the required monthly minimum.
Online title loan lenders will typically require a few pictures of the vehicle, such as one of each side, the odometer, and the VIN or Vehicle Identification Number. Once they determine how much they can lend you on your vehicle, the lender will require that you email or text in a few documents such as the proof of your vehicle title and monthly income. If you can’t locate your vehicles title, be sure to check with your local DMV and try to get an extra one.If you are not sure if you want to fully complete an online title loan, you still have the option to simply apply and get a quote from a loan officer without having to have a credit check or finalize the loan.
#3 – Read the fine print before finalizing your title loan
One of the most important things to do when applying for any loan product is to make sure that you understand the terms and agreements. Once you sign the loan documents, you are liable for everything that was stated within. Search for any terms that you don’t understand, or any information about the repayment terms. Online title loans have a wide range of terms and agreements. Some require monthly payments, others every 2 weeks. Some have origination fees meaning that you may pay a small amount just for receiving the loan.
Don’t flush your hard earned money down the toilet with additional fees or late payments
Also, be sure to ask the lender if they have any early payment fees, or fees if you pay off your title loan before the contract is up. This is important because the best way to save money on interest is to pay off your title loan online as soon as possible. To find out the amount of interest and total payments you will be making on your title loan, check out our easy to use 3 step title loan calculator.
Know the risks of a title loan before finalizing. Some lenders have in the contract that they are able to take the vehicle after the first to third payment is missed. This is because if you are not making your title pawn payments, the company has the ability to keep your vehicle until you make the payment. This is one of the biggest risks when applying for an online title pawn because you must be sure that you are able to make the monthly payments on time, every time.
Just because you may want to be approved for an extra large title loan, think about if you can meet the payments to ensure that you save money on extra fees and possible impounding. If you can’t make a monthly payment, make sure that you are honest with your title pawn lender. They will often be able to give you a grace period if you have a successful history of paying your payments on time.
How long does it take to get approved?
How long it takes to be approved for a title loan depends on how fast you are able to get the required loan documents to the lender. Usually, once you fill out your application you will be contacted immediately. The title loan officer will tell you exactly what documents will need to be verified. After this, it is up to you to email or text in these documents if you are doing an online title loan. If you are doing one in-person, the lender will take a visual inspection of your documents and vehicle.