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If you find yourself in need of emergency money because you’re holding an unexpected bill, you may be considering an auto title loan. An auto title loan can be a great way to cover unanticipated expenses, but you need to be aware of fees that go beyond simple interest payments.

What Loans Get More Than a Couple Hundred Bucks?

An unsecured loan, such as a payday loan, doesn’t loan more than a couple hundred bucks, so what happens if you need a couple thousand dollars for medical bills or serious house repairs? What other options do you have when you need 2 or 3 thousand dollars to make ends meet? There are many nontraditional lenders that can help you get more than a couple hundred dollars, so how do you choose between them?

No Credit or Bad Credit Making it Hard to Get High Dollar Loans?

You were young when you first got a low amount store credit card. You didn’t understand what APR was, and you thought credit was like paying $25 a month to borrow $250 now. Well, when you were young, there was a reason why you couldn’t afford buying something for $250 outright. The account closes, your parents post the settlement amount. You go to college and forget. 2 years later and that closed credit account is the only thing on your credit report and your credit score is not in your favor. Banks won’t lend you money because your credit history and age makes you an unfavorable client. Even if you have a job and a way to repay your loan, many financial institutions may find you a risk rather than an asset to their customer base.

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Now you need a couple thousand dollars to pay for your security deposit and application fees on a new apartment. The apartment manager requires you to pay first and last month as a security deposit because of your credit history. The same credit history and credit score that you earned from a mistake in your youth. You didn’t have the foresight to account for this in the long run. It happened over 5 years ago. You have learned more about credit as to not make this mistake again, but you also have a well-paying, full-time job. Traditional lenders do not see potential but tend to focus on past payment history. Payday advance lenders can only offer a few hundred dollars at a time, but you need a larger sum, now.

How Do I Find a Reputable Auto Title Loan?

Reputable auto title loans generally have a few things in common:

  • Simple loan terms – Even though reputable lenders may still have fees, they will be presented in such a way as to be easy for borrowers to understand. They won’t be buried in the small print.
  • Outstanding customer service – The representatives of a reputable auto title loan company will be happy to answer any questions you have, before, during, and after the loan process. They’ll outline any fees and make sure you have a full understanding of your financial obligations. They also should never pressure you to take out a larger loan.
  • Strong data protection – Most reputable lenders have technological and procedural safeguards in place to help protect customer information. This helps ensure that the only people allowed to look at their information are people directly related to the auto title loan process.

What Are the Benefits of Getting an Auto Title Loan?

We don’t just simply provide emergency funds, we provide an experience. Take a look at the benefits we are able to provide customers1.

  • Fast Process

One of the major benefits of acquiring a title loan is the fast process. Customers may apply by completing the quick 5-minute questionnaire3. After we receive a customer’s information, we make a fast evaluation, and contact them with a title loan offer if they are approved1. If approved, customers could expect to receive their money in just one business day3!

  • Competitive Rates1

Rates stay competitive by using up-to-date market analysis to determine the most competitive rates.

  • Flexible Loan Terms

We understand that everyone’s financial struggle is going to differ. That’s why we work with the customer to determine the right course of action. We make sure their loan duration, rate, and terms are suitable.After all, we don’t want to add to our customers stress, we want to alleviate it.

  • Low Credit or Past Bankruptcy1

If a loan inquirer has ever been turned down for a loan due to their past financial discretions, we encourage them to apply and give us try. We have helped people with all kinds of financial backgrounds, even those with low credit and past bankruptcies—we may be able to help you too1!

  • Free Loan Quote1

When searching for a title loan, sometimes it’s best to see what offers are available and make a fully informed comparison before making any hasty decisions. That’s free loan quotes to qualified applicants1. Inquirers may see what offers we have for them, free of charge! This way they could make a confident financial decision, and not be forced into a contract they disagree with.

Here are some of the hidden costs that we DON’T charge you when applying:

  • Late penalties
  • Balloon payments
  • Transaction fees
  • Insurance fees
  • Credit report fees
  • Appraisal fees
  • Origination fee
  • Credit card convenience charges

How Expensive Are Auto Title Loans?

The cost of your car title loan is primarily based on your APR. APR stands for Annual Percentage Rate. Interest is charged annually based on this rate. Car title loans or mortgages will have an APR calculated in percentage form.

We know that annual percentage interest rates can be confusing, that is why we explain APR to customers before signing any documents to borrow the loan. We explain how our credit officers calculate the interest rates without including extra hidden charges.

We offer competitive interest rates. We encourage our customers to talk to our friendly customer representatives about the process of estimating interest rates and payments.

What Do I Need to Get an Auto Title Loan?

If you own a vehicle, it can be used as collateral to obtain a loan. We offer car title loans. We only ask to ascertain the equity in your car and to demonstrate your ability to repay the loan to know how much you qualify for. Our intention is to lend you money so that you can overcome your financial emergency1. Too good to be true? Not at all.

You can get a loan based on the equity of your car and your ability to repay the loan. It’s as simple as that.

Here is how you can find the equity in your car:

  • Find out how much you still have to pay on the loan: This very simple if you can get monthly statement or online account access to your loan information. It will clearly tell you how much you still owe on your car.
  • Find your car’s actual value: A professional assessor can help you succeed in getting the most realistic estimate. The exact value depends on the year, make model and other variables.
  • Get an appraisal at a car dealership:  You can go to a reputable dealership to give you an accurate appraisal. You can also go to a used car auction close by that can give you a fair estimation as well. This might be the easiest way to determine your vehicle’s true worth because at a dealer you interact with real people who can help you follow up on questions or concerns. A dealership will inspect the condition of your car and compare it to others on the market with a similar make, model and condition to determine the demand and value.
  • Use an online appraisal tool: There are many websites that help you to complete the appraisal online and know the value of your car. The Kelley Blue Book is one of the most reliable tools that will help you to estimate the market.

Use the Equity in Your Car for an Auto Title Loan

You can use the equity in your car to borrow money quickly and easily when you need it. The car owner can leverage their car title to get several thousand dollars1. Our auto title loans are customized to meet your financial progress.

When you make the decision to get a car title loan, you will need the following documents ready:

  • Qualifying car title in your name
  • Proof of income
  • Proof of residence
  • Government-issued photo I.D. (Like a driver’s license)
  • Several photos of the vehicle

You can fax, email or text us pictures of your documents to us, and our helpful agents are available to help you, wherever you are.

What is Proof of Income for an Auto Title Loan?

Many people think that the only thing you can use as proof of income for a title loan is a paystub. This isn’t true. There are actually a number of other ways to show proof of income if you are trying to qualify for a car title loan:

  • Bank statement if self-employed
  • Disability
  • Social Security benefits
  • Worker’s Compensation

How Much Money Can I Get with an Auto Title Loan?

The amount of money you may be able to get with an auto title loan depends on a few different things1:

  • Amount of income
  • Equity in the car
  • Loan terms

The two most important factors that will have the greatest influence on how much money you’ll be able to borrow are your income amount and the equity in your car. These will help to determine how much you can borrow and actually afford to pay each month.

Not convinced?  Here are some key advantages.

  • No prepayment penalties
  • Competitive interest rates1
  • There is no application fee
  • High approval rates
  • Funding is available in as little as 1 business day 3

How Do I Get an Auto Title Loan?

Applying for an auto title loan is easy. If you’ve got a car with a qualifying car title in your name, you may be eligible for an auto title loan1. You may be able to get your auto title loan money in as little as one business day after you complete your application3.

There are easy ways to get in touch when you want an auto title loan:

  1. Call at 1-877-787-4923
  2. Sign up online without leaving the comfort of your sofa

After you’ve figured out which way to get in touch works best for you, you just need to follow a few easy steps to get your application processed:

  1. Apply by filling out the form
  2. Submit your important documents to your representative
  3. Review your loan offer1

When you find yourself in need of emergency money, unscrupulous borrowers may try to lure you in with low advertised rates. Once you sit down to get your loan however, you’ll find that there are actually a number of fees associated with the auto title loan that you weren’t expecting.