To start with, there is no faster or easier way to get money than with a Richmond title loan.

When you apply for a bank loan or another type of more traditional loan, you often have to wait several days or even weeks to find out if you’ve been approved for the loan. This could mean that you spend all that time waiting for a loan that’s never going to happen.

If you do get one of these loans, you then have to wait several business days or longer to get your funds and then, in some cases, a few more days for them to clear. All of this adds up to waiting for a very long time to get the money you need, if you even get it at all.

Thankfully, title loans are much faster since they are specifically designed for people who need money in a hurry. If you show up to your title loan lender with all of the documentation required, then you can have your application processed in half an hour or sometimes even less in most cases. Just be sure to check in with the lender about what you need to bring with you to streamline the process as much as possible.

What’s even better is that you don’t have to wait after your approval. You can usually get your money that very same day. In fact, you could walk into a title loan lender’s office with nothing and then walk out, in an hour or less, with money to spend. What could be better than that?

No Credit Concerns

Many people’s requests for loans are denied simply because they do not have good credit or don’t have enough credit. If this has ever happened to you and/or if you know your credit isn’t where you’d like it to be, you may feel like applying for a loan isn’t even worth it.

And, while that might be true for bank loans, that’s not the case for title loans. Title loans are open to people regardless of their credit or lack thereof. In fact, many lenders will not even check your credit at all. They don’t need to since your collateral protects the lender and secures the loan.

So, no matter where you are credit-wise, a title loan can work for you. In some cases, it can even improve your credit. As you meet the title loan agreement and make your payments as planned, this can actually improve your credit score, making it possible for you to get other types of loans in the future. Of course, why would you want to when title loans are so widely available and so beneficial?

Keep Driving

People who are not very familiar with title loans and how they work often have misconceptions or fears surrounding these loans. A big misconception, one that keeps many from applying for the loan funds they so desperately need, is that a title loan will require you to give up your car.

Fortunately, nothing could be further from the truth. Once you sign the title loan agreement, you are free to drive away in your vehicle just like before. The lender will have the title and a copy of the keys, but the vehicle is still yours and will stay yours as long as you make your payments.

If you ever need to miss a payment or pay late, be sure to communicate with your lender. Most are extremely easy to work with and will offer payment extensions and alternate payment arrangements if you just let them know what’s going on.

Contrary to what you may have heard, title loan lenders are not out to get you, nor do they want to take your vehicle from you. They want you to make your loan payments and will work with you as much as possible to avoid repossession, which often causes them to lose money, rather than make it. So, as long as you work with your lender and do your best to make your payments, keeping your car should be easy. You’ll even get your title back once the loan has been satisfied.

Avoid Cash Advances

People who desperately need cash and who don’t have good credit will often turn to cash advances in order to get money. While cash advances can be helpful, they have very high interest rates. Even worse, many people get into a continuous cycle of borrowing that ultimately does not benefit their financial situation in the long run.

Title loans are a superior option to cash advances. They offer more customization to make them work for you. Plus, they charge a lower interest rate since there is collateral to secure the loan. So, if you want to avoid cash advances and other risky forms of borrowing, a title loan is a great choice.

Repay Your Way

As a final benefit of title loans, you can repay them in a way that works for you. Most lenders offer different options, like paying the loan in one full payment, paying small payments over time, or paying small payments followed by a larger payment at the end.

Any option that works for you is fine. Just make sure the lender you choose offers the repayment option that you want and need. Luckily, with so many Richmond lenders, finding one that has your repayment option shouldn’t be hard.

As you can see, there’s a lot to love about title loans. So, what are you waiting for? Find a reputable Richmond lender and apply today!

Store Locator >California > Richmond