The Surprising Benefits Of Title Loans Exposed
When it comes to getting an auto title loan from us at Cash Cow, there are a lot of benefits you probably didn’t know about. Whether it is our easy-to-understand definition of the loan or how much you could qualify to get if you are approved, these are things you’d be surprised to learn about.
All in all, title loans are a popular option among borrowers for several reasons. This guide will dive deeper into these surprising benefits to help you understand why they are a popular loan!
What Are The 5 Benefits Of Title Loans?
1. Easy To Understand How They Work
As we said, the first benefit is how easy it is to understand how title loans work with us. With a title loan, you are using your vehicle’s lien-free title as collateral to secure the loan. The amount of money you qualify to borrow will depend on the car’s value and its condition, so we will need to inspect it before we can tell you if you are approved.
This loan is also designed to help you out with expenses that come suddenly and are emergencies. The good thing about this loan is that you don’t have to give up your vehicle while you repay us. We are only using your vehicle’s title as collateral. This means we will hold onto the title – not the vehicle itself.
So you can go on and keep driving it as usual while you are making your loan repayments. The most important thing to know is that your title must be in your name. If it isn’t, you’ll have to have a title transfer at the DMV before you come to see us.
2. You Can Get Up To $1,400
The second surprising benefit of this loan is how much you could get if you are approved. If you are approved for this loan, you could qualify to get anything between $300 - $1,400. That means you can get your hands on a helpful amount of cash quickly when you need it the most.
As you read earlier, the amount you qualify for will depend on your car’s value and overall condition. We recommend getting your car in as good of condition as possible before you come in for the inspection.
3. Minimal Requirements To Fulfill
People typically expect to deal with a long list of requirements and a mountain of paperwork when applying for loans. That might be true in many other cases, but it isn’t the case when you get an auto title loan with us. Firstly, you’ll only need your driver’s license – or another state-issued photo ID – and your lien-free car title with the car for the inspection.
Again, the title must be in your name, so you might need to go to the DMV to have a title transfer if necessary. As you can see, the requirements are actually easy for almost anyone to fulfill with little to no effort. In fact, you might already travel with these three items right now! Besides that, here are a few more things you’ll want to know about what is or isn’t required:
- Age: You must be at least 18 years old to apply for a loan. There’s no way around this requirement, so you must wait until your 18th birthday if you’re younger.
- Credit: You don’t need perfect credit to apply. Whether you have good or bad credit, your application will be considered the same way as anyone else’s.
- Checking account: You don’t necessarily need a checking account to qualify for a loan.
4. Fast And Simple Process
Another surprising thing that first-time applicants discover is that applying for title loans with us is fast and easy! For example, you can get started immediately by submitting the online form found on our website.
This form helps to send us your basic information so we can set you up with the nearest store location. Then, we can set up an in-person meeting for the vehicle inspection. The good thing is this meeting can either take place in the store or we can have our representatives meet you.
Whether we meet at the store or somewhere else, the representative will inspect your car and look at your other items. They will then determine if you qualify for approval and how much we can give you.
If you do, they will go over the loan terms and help you sign the loan agreement if you agree with our terms. Once that is done and you’ve signed everything, you can get the money either later that day or the next bank business day at the latest.
5. Customer Support
The last benefit you get from us at Cash Cow is customer support. From the time you fill out the online form, there is a title loan representative there to help you through the entire process.
So, you can ask them as many questions as you have, and they’ll be more than happy to address any concerns you may have. In fact, before you even fill out the form you can either give us a call or chat with us online if you have any questions!
Take The First Step Now!
The surprising benefits described above await you when you apply for an auto title loan from Cash Cow! As you can see, you get plenty of benefits when you look for this kind of loan! We want to help you out as best as we can because we understand how stressful an emergency can be. So don’t wait any longer and take the first step from the comfort of your home by filling out the online form today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.