Why Do You Need an Auto Title Loan in Los Angeles?
There are times when you need money urgently, but a low credit score is what stands in your way of getting a personal loan from your bank. In such situations, a car title loan is a solution. And wherever you reside in Los Angeles, California, you can easily find a car title loan California office near you.
The bigger questions, however, is; are car title loans a good idea? And as you read on, we’ll point out a few reasons why you might need to get a car title loan.
When you’re short on cash and need to pay your mortgage or settle utility bills that are just piling up, a quick loan with your car title as collateral can help you with that.
It could also be unexpected medical expenses or that you need money fast to maintain or even replace home installations or gadgets. With a vehicle title loan, you can comfortably take care of these expenses.
Of course, there are some other funding options. But when you’re looking to get a loan at a favorable interest rate and still get to keep possession of your valued asset, then a Los Angeles auto title loan comes in handy.
Emergency Cash Loans for Urgent Expenses
Depending on how much your car is worth, you can obtain an almost instant cash advance using your car title as collateral. Whether you have perfect credit or not is irrelevant because you can still get a car title loan even with bad credit without any hassle.
Auto title cash advance is a form of secured loans that require your car title as collateral. This loan is beneficial especially when you are desperately in need of an emergency money loan.
With your car title as collateral, you will get a quick loan and still keep your car. And the loan also comes at a fair interest rate.
Since you need the cash to cover urgent financial needs, the title loan process is void of long and complex documentation. This implies that the documents that facilitate the loan which you will be required to provide are simple and pretty basic.
If you opt to apply for our fast online title loan, then you should be done with the title loan application in about 3 minutes or less. You will get an instant approval after submitting your application. And in about 15 minutes, you will receive an initial non-obligatory quote that states how much money you can get.
Pros and Cons of a Car Title Loan
Every major financial decision requires that you closely examine the situation and also weigh your options. Getting a car title loan in Los Angeles is a financial decision, and before you even decide to proceed with a decision to apply, you have to get a detailed knowledge of all you have to know about car title loans and how car title loans work.
Just like any other financing option, there are two sides to the coin. And it will be clear to you in a moment whether the benefits outshine the disadvantage.
- Fast Cash
An auto title loan is a 24 hours loan option. That is, you can get the cash you need on the same day you apply. Sometimes, within hours, depending on how fast you can make the title loan requirements available.
- No Credit Limitation
Car title loan is not a credit-based loan. The loan is based on the value of your car or vehicle, and on your financial strength to pay off the loan. You can even get a title loan in LA with no credit or after bankruptcy.
- Continue to Drive Your Car
This is the best part of a car title collateral loan. You get the cash you need and continue to drive your car. You don’t even have to drop a spare key, and no tracking device will be installed in your car.
- Stress-free Application
No standing in long queues. No long wait at the office. Once you show up at a title loan office close to you, a title loan rep is available to guide you immediately. Even when you apply online, you only need to fill in your basic details plus the make/model of your car.
- Risk of Repossession
Though your car is not directly the collateral, there is a risk of losing your car through repossession if you default. The lien on your car is what gives your lender the legal right to impound your car or vehicle in case you fail to pay off your loan or fully comply with the loan payment plan.
- Possibly High-Interest Rate
Due to the high risk in borrowing cash with a low credit score, especially when you get a car title loan with no credit check, most title loan companies in Los Angeles California offer this loans at a higher interest rate than others. This means that you will end up paying more than you would if you get an unsecured bank loan.
Car Title Loan California – The Unfair Advantage
We are not just here to help you get a car title loan in Los Angeles fast and easy; we also ensure that you get the best out of the title loan.
As the #1 car title loan company in California, we pride ourselves in offering the best auto title loans in LA, whether you have bad credit or no credit at all.
The Car Title Loans California advantage includes;
- No prepayment penalty: we allow you to conveniently pay off the loan quickly whenever you feel buoyant enough without charging you extra for paying off the loan early.
- Longer loan duration: title loans may be short-term loans, but we give you up about 24 to 36 months to pay off the title loan.
- Comfortable monthly payments: with a longer loan period, we spread out your loan payments such that you pay small amounts monthly without straining your budget.
- Affordable interest rates: our car title loan interest rate is reasonably fair and competitive, lower than what other title loan lenders can offer
- Best customer service: our customer service representatives are not only experienced, but are also focused on giving you the best pink slip loan experience in Los Angeles.
Los Angeles Car Title Loan Requirement
There are a couple of requirements you will need to get a car title loan in LA, California. However, the first step is to establish your eligibility for a Los Angeles auto title loan.
To qualify for pawn your car title for cash advance, you must;
- Be at least 18 years and older
- Own a car or have enough equity in the car
- Have a clear or salvage car title or pink slip in your name
- Be a full resident of Los Angeles
- Have a regular income of at least $1,200 monthly
Now, moving on to the documents you will need to get a title loan in Los Angeles, California, you will be required to provide;
- A means of identification authorized by the Los Angeles government. For example; your driver’s license. The valid ID will be used to verify and validate your details as stated in the application form.
- A document to verify your current residency. For example, your current utility bills receipt.
- Proof of your income. For example, a pay stub. A steady income is one of the major criteria that qualify you for a title loan as it aids in making the monthly loan payments.
- A couple of references or cosigners as the case may be.
- Photos of your car showing the interior and exterior, as well as the mileage on it.
You will also need to make your car available for inspection. The loan amount you will receive will be about 85% of your car’s Kelley Blue Book value, and the vehicle inspection process is to determine your car’s roadworthiness.
Thousands of Americans living in different locations in California have come to us for financial assistance. And as the best title loan provider in California, we always leave smiles on their faces. We can also get you a fast loan in Los Angeles when you pawn your car title with us.
Get a Los Angeles vehicle title loan today. Approach Car Title Loans California.