Table of Contents
- The Big Three US Car Companies with Great Service
- Large Car Title Loan Companies vs Small Car Title Loan Companies
- Borrowing with Your Car as Collateral
- Are Title Loan Companies Safe?
- What Makes a Title Loan Company Honest?
- Which Vehicle Qualifies for a Car Title Loan?
- How Much Money Can I Get with a Car Title Loan?
- What Are Some Benefits that Title Loan Companies with Great Service Offer?
- What Do I Need for a Car Title Loan with Great Service?
- How Do I Get a Car Title Loan with Great Service?
Are you looking for financial assistance in the form of a title loan? When searching for a title loan, you want to make sure you are working with a company that has great service. But how? If you are looking for a title loan company with great service, you want to make sure you find a lender that is transparent, has happy customers, offers fast funding, and has stellar customer service.
The Big Three US Car Companies with Great Service
The automotive industry is always changing and growing, especially as the companies try to create cars that save gas money and are more environmentally friendly.
The Big Three US Car Companies are not left out, and they are:
- General Motors
- Fiat Chrysler
While the US wasn’t the first country to invent the automobile, they weren’t far behind in the industry once it was developed. In fact, America quickly dominated the automotive industry for the first half of the twentieth century. Henry Ford invented mass-production techniques that are now the standard, and the Big Three emerged by the 1920s.
The Big Three maintained a majority of the car sales in the world up until an oil crisis in 1973 that gave the small, fuel-efficient cars created by Japan a leg up in the auto industry. This made the competition risky since none of the Big Three had real plans to make more fuel-efficient cars. As they struggled to keep up, they all slowly declined into or near bankruptcy as they competed with Japanese automakers for the top spots in the world.
In 2008, President George Bush created an emergency financial rescue plan to help the Big Three prevent a collapse of the US auto industry. The only condition was a rebuild of the companies. GM and Fiat Chrysler both wound up filing for bankruptcy, and Ford was able to stay afloat and had enough emergency cash to allocate.
Now, the Big Three have risen as the automotive industry continues to change with the new Age of Electronics. In 2017 in the US, GM and Ford both beat out Toyota in the year sales with GMs 3 million cars sold and Fords 2.59 million cars versus Toyotas 2.43 million cars sold.
History of General Motors (GM) – Detroit, Michigan
General Motors (GM) was the largest motor-vehicle manufacturer of the entire world for most of the 20th to 21st centuries. Founded in 1908 by William C. Durant, he consolidated companies like Buick, Oldsmobile, Cadillac, Oakland, and later Pontiac. Now, GM owns the following car companies:
William C. Durant changed the motor industry when he introduced the first electric self-starter in 1912 with Cadillac. After some disorganization of finances and other important parts of the company, Durant was forced out of his presidency and succeeded by Alfred P. Sloan Jr.
After a battle of the automobiles, GM surpassed Ford in 1929 and became the leading passenger-car manufacturer. In 1931, they became the world’s largest manufacturer. By 1941 before World War II, they made up 44% of all cars in the US and became one of the largest industrial corporations in the world.
Throughout the 50s and 60s, they maintained about 40-45% of total US car sales but faced the troubles of the 1970s and 80s because of the oil crisis. They tried to create a competitor for the small vehicles with Saturn, but eventually faced losses. In the 90s, the company closed plants and reduced jobs by the thousands. They were able to make a recovery, and they even surpassed Toyota as the world’s largest automaker again in 2008. In June 2009, they filed for bankruptcy but emerged out if by the next month. They continued to go back-and-forth for the largest automaker in the world, but after a scandal regarding faulty ignition switches in 2014, people admired the way they handled it and their sales have been record breaking the last 3 years.
History of Ford – Dearborn, Michigan
Ford’s history first began when Henry Ford built the first Ford car 1903 and created the company with 11 other investors. By 1919, he had full ownership and even his heirs owned a majority of the stocks until 1956. They sold passenger cars, trucks, tractors, car parts, and car accessories. Now, Ford consists of:
- Small stake of Mazda
Henry Ford built an experimental car in his backyard in 1896. After his first Ford car in 1903, he created the successful Model T in 1908. Due to demand, he established the industries first US assembly plant in Kansas City, Missouri in 1911, and he had one overseas in Manchester, England in 1913. By mid-1914, over 500,000 Model Ts had been sold and by 1923, they were producing over half of America’s automobiles.
As they continued to produce more models in demand for the growing times and competition, they began a limited diversification in the 50s and 60s. As mentioned, they started to suffer greatly because of the demand for more smaller vehicles in the 1970s and 80s. In the 1990s, they refocused on their goals.
Unlike GM and Fiat Chrysler, Ford was able to avoid bankruptcy and the government aid. Because of this, they experienced an increase in sales. Between 2010 and 2016, they saw their sales slug, so they implemented the Ford Smart Mobility to grow and invest in new opportunities. In 2017, they announced their plans to create more electric cars.
History of Fiat Chrysler
Unlike Ford and GM that have clear histories of where it all started, Fiat Chrysler has been through it all. The company originally started as Maxwell Motor Company in 1913, experiencing a lot of ups and downs until Walter P. Chrysler took over in 1925 and changed the history of the company. Now, Fiat Chrysler owns:
While getting a late start to the car industry, they were still able to follow in the shoes of Ford and GM to help the cause of World War II. In the 50s and 60s, they created the “muscle cars” with the C-300 in 1955 and the 300 F in 1960.
Suffering from the oil crisis, the new president appealed to the government for a loan of $1.5 billion in 1979 and it was officially approved in 1980. By 1983, they had paid the loan amount and interest back. That same year, they developed the Dodge Caravan and Plymouth Voyager – the first minivans created. For families, this was a new and innovative item to have.
After joining with Daimler-Benz in 1998, they experienced poor performance in sales, so they closed Plymouth down. With a continued struggle, Daimler cut Chrysler, but they were quickly bought and changed to Chrysler LLC.
Alongside GM, they filed bankruptcy in 2009 and they finalized a share with Fiat not long after. In 2011, they paid back any loans they had, and Fiat became a majority of the shareholder for Chrysler. In 2014, Fiat officially had full ownership and they became Fiat Chrysler.
Large Car Title Loan Companies vs Small Car Title Loan Companies
When one is looking for title loans, they should consider the type of company that fits their lifestyle. There are some pros and cons that come with getting title loans from large car title loan companies and small car title loan companies.
But before we can get into those details, let’s look at what makes large car title loan companies different from small car title loan companies, and vice versa.
|Large Car Title Loan Companies||Small Car Title Loan Companies|
|Many have multiple outlets of communications and payment options.||May have a few available options to communicate with customers. Might not be online.|
|Generally has more advertising exposure.||May not advertise a lot or get cheaper advertising from places like radio or billboards.|
|May serve multiple locations, which includes other cities, municipals, or even states.||May have a few brick-and-mortar buildings in a certain area, or a single facility where most of their base of operations happen.|
|Usually has more employees and customer service representatives to work with.||Generally has limited employees or representatives working for them, which could mean you are limited in who you may be talking to about title loans.|
Now that you have a good idea of what large car title loan companies are and what small car title loan companies can be like, you might want to start to know what advantages they can offer you, as well as any disadvantages that they could possibly have.
Large Car Title Loan Companies and Small Car Title Loan Companies: Pros and Cons
Both choices often vary depending on the type of financial situation you are in, but always be sure to ask as many questions as you can with any car title loan company you are considering. With that out of way, here are some distinct advantages and disadvantages with large car title loan companies and small car title loan companies, starting with big!
Large Car Title Loan Companies – Advantages
Bigger can sometimes be better! Large title loan companies may offer convenience simply because they can provide multiple options when it comes to talking to them or meeting them in person. Expect them to be able to run a smoother operation, especially if they have multiple locations, have a recognizable brand, and tend to have their own working website.
Like any expanding business, large car title loan companies that are growing should expect to hire more employees. The more representatives, the better, especially if you are not a fan of waiting on hold for several hours when any issues pop up.
Aside from the better customer service and communication options, most large car title loan companies may have that reputation based on their rates. Although big companies don’t always mean small rates, it’s never too late to check out the competing companies and make your move on whether you’ll get your title loans from big company A or company B.
Large Car Title Loan Companies – Disadvantages
There are a few downsides. In the competitive world of car title loan companies, they are all varying in qualities. In short, bigger companies may not always be better, and their quality could be worse depending on which ones you go to.
Another thing that may be a disadvantage for you when it comes to title loans is that you may feel you cannot fully enjoy the choices, such as mobile apps or online payments because they are not available to you, or you have limited online connectivity, forcing you to go in-store or through a location that offers a company’s services, which wastes gas and your time.
Small Car Title Loan Companies – Advantages
With small car title loan companies, one advantage it could have over large car title loan companies is it can be very personal. When you enter small car title loan companies, you might be entering a place with very few employees, but treatment with that of you being a loyal customer.
Another advantage with small car title loan companies is that they may offer lower rates on title loans with you because they feel that it could be the only way they could get you to lend from them, and nobody else.
Small Car Title Loan Companies – Disadvantages
Like large car title loan companies, smaller businesses tend to be just as competitive with other lenders, but that doesn’t mean they can all be right for you. Quality can vary, and smaller companies may suffer from having less resources and representatives that will make getting title loans from them harder than it already is.
Small car title loan companies also lack some of the benefits of online communication and payments. In fact, many small car title loan companies may have just a single location. That could be very alarming if at some point, you don’t have guaranteed transportation or can only make payments directly at the location.
Another disadvantage that small car title loan companies could suffer from is being old-fashioned. Although applying for a car title loan could be easy and fast, it may not have streamlined processes or enough dedicated employees to carry out fast funding from title loans.
Borrowing with Your Car as Collateral
You might find that you need a loan unexpectedly. In most states a person can apply and be approved for a loan on their vehicle based on the car title and ability to repay the loan. The equity is evaluated for your car and a substantial loan can be offered as a result.
Working with a good car title loan company, means getting to keep your vehicle. A good car title loan company should not deny you access to your vehicle if you used it as collateral. The good thing is that you will still keep your car throughout the period you are paying the loan. You can use the funds in any way you see necessary without restrictions.
Establishing Title Loan Limits Based on Your State
Car title loans are governed in states by setting both the minimum and maximum amount for a loan. Some states also restrict the amount of a loan if the monthly payment exceeds 50 percent of a person’s income. Moreover, some states have further restrictions on loan processing fees. The best bet is to contact the staff at our office to understand the state established limits of car title loans as well as any accompanying fees.
Are Title Loan Companies Safe?
When it comes to borrowing money, there are many crucial state and federal laws that regulate the process. It’s important to understand the laws governing such loans before applying. We have a dedicated staff to help you decipher these regulations and to know how they will affect your car title loan. We ensure that our clients have access to relevant information on agencies and rules that regulate the car title loan process.
We ensure that all state and federal laws governing loans are followed. All you need is a car title and proof that you can repay the loan if approved. We have also ensured that our interest rates are competitive enough to give our clients the best opportunities to succeed and overcome financial burdens. We also ensure that our payment schedule is reasonable and manageable to help clients pay without breaking a sweat.
What Makes a Title Loan Company Honest?
An honest title loan company should have the following qualities that they should not be secretive about:
Be Honest About Privacy Rights
Current and former customers should be mentioned in a title loan company’s policy to ensure that every person involved is accounted for with complete discretion.
Be Honest About Collecting Personal Information
A title loan company should be transparent in why they collect certain personal information from borrowers. This means being honest in their intentions.
Be Honest About Sharing Personal Information
Sharing personal information should be a necessary element that should be discussed between a lender and a borrower. A title loan company should be honest about the ways they could share that information, which includes disclosing the very organizations they share it with:
- Financial service providers (banks, mortgage bankers, credit card issuers and insurance companies)
- Non-affiliated, non-financial companies (statement processors, repossession companies, collection agencies, or their attorneys)
- Affiliate companies that may be using that personal information on a regular basis
- Non-affiliates for joint marketing
- Credit reporting agencies
Be Honest About a Borrower’s Rights
Explaining an individual’s right to limit a title loan company’s sharing of their personal information is another way of being transparent and honest with a customer who may want to know about them.
Honest About their Title Loan
It takes a lot of transparency to be able to give the details on a title loan. In fine print or when asked, a title loan company should be able to provide all the information on their title loan. This means detailing any possible hidden fees or other policies they should expect to encounter as a borrower.
Which Vehicle Qualifies for a Car Title Loan?
We accept all kind of vehicles that are in good conditions. A vehicle with the clear title also qualifies for a car title loan. Our staff is ready to evaluate the qualification of all vehicles presented as collateral for a loan. Processing of a car title loan with a clear or free title is faster and more convenient than other traditional banking services.
Title loans are regulated to protect citizens against harmful practices. Sometimes state laws and regulations can affect your ability to qualify for a certain loan. In these cases, federal laws should not worry you! Our team of experts understands all the nuances of regulation and are available to help customers make the best choice.
Do you have a car with a free or clear title? You can apply online to find out how much of a loan you are eligible for1. If you have the car title readily available, the money you need could be just a few clicks away. Get started today, and we will send you a quote for a possible loan with no obligations.
How Much Money Can I Get with a Car Title Loan?
The total amount of money you may be able to borrow when you get a car title loan depends on a few different factors1:
- Equity in your car
- Your total income
- Terms of the loan
Of the three, the equity in your car and your total income are the most important. Ultimately, these will determine how much money you may be able to borrow1.
What Are Some Benefits that Title Loan Companies with Great Service Offer?
There are several factors that go into making a title loan company with great service. With all the different kinds of lenders out there, make sure you are working with a reputable lender who works with you to set you up for financial success.
When searching for title loan companies with great service, here are some things you want to look out for:
- Great Customer Service – A good car title company believes in honest communication with their customers. We help our clients to identify the problems they are going through and provide the financial support that they may need. We are open to all customers coming to us with their crises. When you have a smooth title loan process, you don’t have to stress and worry about unanswered questions.
- Fast and Efficient Funding – Car title loans are known for their quickness and efficiency. In fact, many people who are approved for car title loans receive their money as soon as the next business day3! If you happen to have a question and call late at night after business hours, don’t worry about waiting around because you will be one of the first customers contacted in the morning.
- Transparency – When working with any kind of financial institution, it is essential to make sure that institution has your best interests in mind. Some financial companies sneak hidden terms and fees into the fine print of their contracts, which can leave the borrower strapped with an unmanageable loan they are forced to deal with. Instead, look for a title loan lender that is honest and transparent. When a title loan lender is straightforward with their intentions and business tactics, it can be easy to do businesses with them and get fixed up with a great deal on a title loan.
- Happy Following – One of the best ways to tell if a company is worthwhile is seeing what other people have to say about it. When a company has happy customers, there is a good chance you will have a happy experience with them as well. Sometimes, financial institutions, and many other businesses for that matter, post customer testimonials so that people can see how much people enjoy their services. By reading through the stories that other people have posted, you can get an idea if that particular title loan lender may be right for you.
- Fast Funding – When in the middle of a financial crisis, waiting around for funding is the last thing anybody wants to do. When money troubles happen, you need appropriate funding right away, so you can take care of your bills, payments, or various other financial obstacles that are currently holding you back. Sometimes, taking care of certain financial obligations right away can prevent other issues from arising later on. The faster you get your money the faster you can spend it on what you need.
With a few clicks, or a phone call, you can be on the road towards financial sustainability and success1! Get started on your car title loan today!
What Do I Need for a Car Title Loan with Great Service?
To get a loan, you will need to provide a few documents to us, so we can verify them for approval1.
There are only a few different things you’ll need to apply for a car title loan:
- Qualifying title for the car (in your name)
- Photos of the front, sides, and back of the car
- Government-issued photo I.D. (driver’s license, etc.)
- Proof of Residence (certain types of mail)
- Proof of income
After receiving the necessary materials, a representative will process the paperwork as quickly as possible to get an application decision.
How Do I Get a Car Title Loan with Great Service?
If you have a car with a qualifying car title in your name, you may be able to qualify for a car title loan1. A streamlined application process means you may be able to get your car title loan money in as little as one business day after you complete your application and submit your documents3.
There are a couple of different ways you can get in touch about qualifying for a car title loan:
Once you know the best way for you to get in touch, you’ll just need to follow a few simple steps to complete the application process:
- Fill out the filing form to apply
- Deliver your important documents to your representative
- Review your loan offer1
When you have questions related to a financial emergency, it’s important to have them answered as soon as possible. Because of this, a U.S-based customer service center is staffed with helpful representatives. You’ll never have an international phone connection issue. So get in touch today.