Many people, at one point or another, will find themselves in need of cash. If that ever happens to you and you own a vehicle, know that you can always take out a title loan in Simi Valley, California.
Title loans, just in case you’re not familiar with them, are cash loans that use your vehicle’s title as collateral. As long as you own a vehicle, you can easily and instantly get the cash you require, no questions asked.
So, no matter what you need money for, if you need it fast, consider taking out a Simi Valley title loan.
Car Title Loans Simi Valley
If you think that a title loan could be a good fit for you and your needs, you may be wondering how to apply for one. Fortunately, the process is actually fairly simple and straightforward.
To start with, you’ll need to gather your driver’s license or other state-issued identification card, the title of your vehicle, and recent proof of income and current employment.
Generally, these are the main things required for taking out a title loan in Simi Valley. However, a lender will let you know if any other requirements exist. For best results, contact a lender ahead of time, find out what you need, and then gather all of your information before going to meet with your title loan lender and filling out the application. This simple step will save you a lot of time and effort.
In some cases, your lender may even allow you to fill out your title loan application online. However, you will still need to send in all required documentation, often in the form of copies, so still take the step of making sure you have everything together.
If you are missing any documentation related to your vehicle, your local department of motor vehicles (DMV) will usually have the information you need on file and available for you to access.
No Credit Concerns
A big concern people often have about title loans is whether or not they’ll be able to qualify. After all, the very people who need title loans the most are often people who have poor credit or no credit and who cannot qualify for other types of loans.
However, cast your credit worries aside! Title loan lenders are very used to working with people with poor or no credit. Thus, they will never base their decision on whether or not to lend to you on your credit score.
In fact, many title loan lenders won’t even ask to check your credit. Instead, all they are concerned with, credit check or not, is that you own your vehicle outright and that the vehicle is worth more than the amount of money you wish to borrow. They also want to ensure you have a source of income that will enable you to pay your title loan back.
As long as you can meet these basic requirements, then you should have no problem getting a title loan whatsoever.
Often, when people apply for a title loan, they do so because they need cash quickly. And, fortunately, as long as you have all the documentation discussed above, you should be able to get your cash right away.
In fact, many title loan lenders offer instant approval or even online approval and can have your cash to you the very same day you qualify.
If you’re hoping for same-day cash, start your title loan process as early in the day as possible. That way, you’ll increase your chances of getting everything filled out and approved and of you ending the day with cash in your pocket!
Spend On Your Own Terms
Once you have received your cash from your title loan, you are free to do anything you like with it. Unlike with traditional loans, your lender generally won’t ask what you plan to do with the loan money.
Of course, you should use it responsibly, but how you use it is up to you. You can use it to catch up on bills, to start a business, to make an investment, or to pay for college tuition or books or anything in between.
You won’t even have to start paying back the money right away. Your title loan lender will let you know when your first payment on the loan is due. So, if you need a little while for an investment to bring returns or if you’re waiting on a big payday, you can generally work out a suitable repayment schedule with your lender.
In fact, many lenders will offer extensions on payments, sometimes for a nominal fee. Or, if needed, you may even have the option to refinance your loan, which can lower the amount you owe overall. You always have options and control with a title loan, whether it’s related to how you spend the money or how you pay it back.
As you can see, there are many things to appreciate about a title loan. However, as a California resident, you’re especially lucky in that title loan lenders in your state have to be licensed in order to conduct business.
This means that they have to follow strict laws about the interest rates they can charge and even what extra fees, like administrative and processing fees, they are allowed to charge. They also have to follow general fair practices in terms of how they treat you and in how they fulfill the terms of your agreement.
Thus, as long as you choose a licensed lender, you really have nothing to worry about. You should familiarize yourself with your rights and the laws in your state to make sure your lender is abiding by them. In general, though, licensed lenders are reputable and by the book.
As you can see, title loans can be a wonderful option for many people. If you think they could be the right fit for you, start researching lenders in the Simi Valley area. Compare interest rates, special offers or deals, and how much each lender will approve you for. From there, you can choose the absolute best lender to meet your needs and then be on your way to enjoying the cash you need.