Many people in the Gilbert area find themselves in immediate need of money with no easy way to get it. Whether you have a big bill due or you’d like to make a purchase you can’t afford, a title loan from LoanCenter could be the option that you’ve been searching for.
If you’re not familiar with them, title loans are loans that are provided to borrowers who possess vehicle titles in their names. They must be eligible to provide the vehicle title as surety for the loan. Generally, they also must possess a source of verifiable regular income and be at least 18 years old.
If you can meet these very basic stipulations, then there’s a good chance that you can get one of our title loans and all of the perks that come along with them.
How do auto title loans work? So, you may be wondering, if you don’t require excellent credit to secure a title loan, what do you need?
Well, to begin with, you’ll need to possess your vehicle in full and have the title to prove it. Your lender will actually obtain the title and use it as collateral on the loan, though you do get to keep using your car as you pay on the loan.
You’ll also need a government-issued form of ID to validate who you are and that you own the automobile in question. For most individuals, this will be a driver’s license or identification card. Passports are also okay if needed.
Your lender may have more requirements as well, such as proof of income to demonstrate you can pay back the title loan and vehicle registration or proof of insurance.
Your lender will let you know specifically what documentation is necessary for your specific situation. By gathering all of these items before you obtain a title loan, you can make the process even quicker and simpler
How to Qualify for a Car title loan
With title loans from LoanCenter being such a great investment, you may believe that they would be very hard to obtain or to qualify for. Thankfully, this is not the case at all. Usually, if you fully possess your automobile, have the documentation to verify it, and if there is still value in your vehicle, you can acquire a title loan.
What’s more is that you can often borrow as much as you need, as long as the amount that you want to borrow is less than the equity stored in your car. There are no absurd requirements or long, difficult application processes. Just meet some easy criteria, and the loan is yours- just like that.
Quick and Easy Financing
Once you gain approval for a title loan, it’s super fast and easy to get your loan amount. In fact, many of our borrowers actually get their loan funds on the very same day that they get approved for them. We get that many of our borrowers are in a hurry, so we don’t waste time when it comes to getting you your money.
Furthermore, we’re proud to say that we’re a much faster option than other types of lenders. With bank lenders or other more standard lenders, for example, you can expect a, difficult application process, followed by a long waiting period to determine if you’re qualified. If you’re not, then you’ve spent a lot of time for nothing. And, if you are, you can expect to wait more for your loan money to be deposited to your account.
Most people who are trying to borrow money don’t have that kind of time to waste. If you need money instantly, a title loan is a way to go, even if you can get another.
Bad Credit is No Problem
You may be concerned about your credit history, especially if it has caused you to be turned down for other types of borrowing in the past. Take comfort in the fact that title loans are not like other types of loans.
While other loan varieties may require excellent credit for you to even be considered for approval, we are glad to work with borrowers from all walks of life and with all types of credit rates. And, while fair credit can definitely help you to get the best possible loan rates, it’s not a must. Furthermore, our rates are so fair and reasonable that, even with bad credit, we can still assist you.
Don’t be afraid to apply with us, no matter what your credit looks like. In fact, borrowing with us could even potentially boost your credit since making your payments might cause your credit score to increase, thus making you eligible for more and more widespread lines and types of credit in the future.