Why Choose a Title Loan for Alternative Funding in Sandpiper Bay?

Traditionally, there are two main types of loans that are available to the average borrower.

  1. Unsecured Loans: These loans are obtained without an asset. To qualify for these loans, you will typically need good credit history to be approved. Since collateral is not offered, loan amounts tend to be smaller.
  2. Secured Loans: In contrast to unsecured loans, secured loans are obtained through the use of collateral. This offers the lender extra security, can be seized if the borrower defaults on the title loan.

Title loans are secured loans, which means there are a few different benefits that make them the ideal choice for borrowers in need of alternative funding:

  1. Those with low credit could potentially receive approval since credit is not the only determining factor in the approval process.
  2. Funding amounts can be larger depending on the value of the car.
  3. Interest rates are more competitive with secured loans.

What are the Requirements for a Title Loan in Sandpiper Bay?

During your search for alternative funding, you may wonder if you have the necessary qualifications for a title loan in Sandpiper Bay.

While the exact qualifications can differ, residents in Sandpiper Bay will usually need to meet these requirements:

  • Vehicle must have enough equity
  • Borrower must be at least 18 years of age
  • Borrower must have the ability to provide proof of income
  • Title must be in the borrower’s name

How I Do I Know if My Car Has Enough Equity for a Title Loan?

In order for you to qualify for a title loan, your vehicle must have a certain amount of equity.

Since most borrowers aren’t aware of their vehicle’s current market value, there are many different ways to find out the current equity:

  1. Check out the Value Using the Kelley Blue Book Online
  2. Get a Dealership Appraisal
  3. Get an Estimate through the Title Loan Calculator

As soon as you drive your vehicle off the dealership lot, it will depreciate in value. Additionally, some important factors that help a loan agent figure out the value of the car include:

  • Any reported accidents involving the vehicle
  • The current mileage on the vehicle’s odometer
  • Any surface damage on the vehicle
  • Any cosmetic damage in or outside the vehicle
  • The make, model, style, year, etc.

What Kind of Cars are Accepted for a Title Loan in Sandpiper Bay?

If you are in need of a title loan in Sandpiper Bay, you may wonder if your car will even qualify for funding. Cars from many makes and models are considered for a loan, regardless of year!

However, some common cars that are generally accepted for title loans are:

  • Honda Civic
  • Honda Accord
  • Hyundai Genesis
  • Ford Explorer
  • Ford Prius
  • Toyota Camry
  • Toyota Corolla
  • Dodge Charger
  • Chevy Malibu

How Do I Qualify for an Auto Advance Loan in Sandpiper Bay?

If you’re less than confident with your credit history, applying for a loan can seem like an intimidating process.

While it may be daunting to try and qualify for a loan, getting qualified through title loans serviced by LoanMart is easy and convenient through these three steps1:

  1. Go Online: To qualify, future borrowers will need to fill out an inquiry form online. This form will only require answers about your income and your car, so the form itself will only take you a few minutes to complete!
  2. Send in the Required Documents: Once you’ve submitted the initial form, the last step is to make sure you’ve submitted the right documents for your loan. A loan agent will use these to determine your eligibility, but they can be submitted online for your convenience!

Some of the required documents you’ll need to have handy are:

  • Proof of Income
  • Proof of Residence
  • Government Issued Photo ID
  • Car Title in Your Name
  • Four References
  1. Get Approval: Once you’ve submitted the initial forms and documents, the last step is to get approval and get your title loan money!