Loan Options in Los Angeles
February 17, 2012
When traveling around Los Angeles, you probably see banks in every part of town. Of course, you are free to do business with a bank and try to get a loan. That’s great if you like dealing with banks and have good credit, but what if you don’t?
You Can Borrow Money From Your Vehicle
You may not know this, but you can borrow money from your vehicle. No, this doesn’t mean that you should go outside and start negotiating with your vehicle. Unless you have the Knight Rider car, it won’t talk to you. Besides, you may get some odd looks from your neighbors if they see you doing this!
To borrow money from your vehicle, you can do so through a car title lender. To do so, you must own your vehicle outright, meaning that you have no payments left to make. If you own your vehicle, you are well on your way to getting a loan.
What is Required to Get a Car Title Loan?
To get a car title loan, you can visit a car title lender. Before you do so, it is a good idea to contact the lender for it’s specific requirements so that you know what to bring with you. For example, you may be required to bring proof of income and your vehicle’s title.
A car title lender often does not require a credit check. Also, it will generally require only a minimal income verification, so you won’t have to prove that you’re the CEO of Microsoft to get a loan!
How Long Will it Take to Get a Car Title Loan?
The process of obtaining a car title loan usually takes around 1 hour. That covers the entire process – not just applying for it. That’s right, you won’t have to wait for days or weeks like you would at a bank.
Will I Have to Give Up My Car?
In most cases, you will be able to drive away with your vehicle after you take out a car title loan. The lender typically requires that you hand over the title – not the vehicle.
How Much Money Can I Get?
Each lender offers different terms, so there is no set amount of money that you can get through a car title lender. The amount is generally based on the value of your vehicle.
At Car Cash Loans, you’ll get up to 50 percent of the vehicle’s value. Sometimes the amount may be even higher.
Also, at Car Cash Loans, loans start at $500. You won’t have to take out $5,000 to pay your $500 bill like you would at some banks!
Should I Take Out a Car Title Loan?
A car title loan can be very beneficial if you are in any of the following situations:
Have poor or no credit
Need only a small loan
Don’t like dealing with traditional lenders
Don’t have much time to wait for a traditional loan
So, if it sounds like you could use a car title loan, give it a shot. It could be the best option for you in many situations, so it is a worthwhile way to get the loan that you are looking for.