A car title loan will allow you to quickly receive money by using your car title as collateral for a loan. In order to qualify for a car title loan, you will need to have no outstanding debts against your vehicle and be the registered owner of the vehicle (car, truck of van).
Car title loans offer a variety of benefits including the speed at which the entire transaction can take place (at CashPoint we can have you back on the road in as little as 15 minutes) and not reliant on you having a good credit score. In fact, your existing credit score is not a factor in qualifying for a car title loan. You qualify based on the value of your vehicle.
In contrast, when you apply for a personal loan at a bank, your credit score will be a huge factor. Unfortunately not everyone has great credit. Additionally, the process to secure a bank loan can be somewhat extended, which might not be convenient for someone needing quick access to cash for an emergency situation.
The higher the value of your car the greater the loan amount you for which you will qualify. Any vehicle including your car, truck or van can be used as collateral on your car title loan provided you own it free and clear and there is a minimum cash value.
Unlike pawn shop loans where you leave your pawned items with the pawn shop, with a car title loan, you actually retain possession of your vehicle, allowing you to continue driving your vehicle during the life of the loan.
Hopefully you’ve found this above explanation about car title loans to be helpful, and we’ll look forward to seeing you at one of our CashPoint locations should you need quick access to cash. Also, please feel free to call our toll free number during business hours and one of our representatives will be happy to answer any further questions you might have – 1 (888) EZ BUCKS. When you need cash, and you need it in a flash, make CashPoint your first stop!
