When you’re in the middle of a tough financial situation, you may want a resource that grants you quick funding. Since many financial problems come from an emergency, you probably don’t have much time to waste. While some loans are available to aid you in these circumstances, some might not satisfy your financial needs. For example, many loan types are difficult to acquire if you don’t have a good credit score or financial background. Even if you can qualify for a loan, a lender can take a while to send you your money. Before you know it, you could end up with a lot of debt that could be challenging to cover.
Fortunately, an auto title loan from LoanMart could offer a better solution to all your economic woes! Instead of focusing on your credit history or other factors, your vehicle’s value matters the most during the approval process. A borrower would only need to use their car title to secure the loan; if they qualify, they could receive their funding in no time.
Keep reading below to learn more about title loans and your chance to be eligible for one today.
How Can You Get an Auto Title Loan in California?
Borrowers can potentially get the cash they need for an expense through a car title loan in California! But before you begin your inquiry, knowing how title loans work is essential. People that do this research could see how the initial requirements for a California title loan are straightforward:
- Borrowers Must Be 18 Years of Age to Apply
- Have the Ability to Pay Off Auto Title Loans in California
- Possess a Qualifying Vehicle With Enough Positive Equity
- Have a Vehicle Title in Your Name
Once you have met these basic requirements, you could quickly start on your title loan application. However, it’s important to note that loan approval is largely based on your car’s equity and current income. If you want to acquire a considerable loan amount, your vehicle would need a high-value rate, and you would need the right income to support that total. To get a car title loan in California, you will just need to use your vehicle as collateral for the loan. You can essentially borrow off the value in your car! Just fill out the online application and fill out the preapproval form to move forward with the process.
Speak with your lender if you feel confident in applying for a car title loan in California. You might obtain your emergency cash quickly if you qualify.
Will Borrowers Go Through a Credit Check When They Apply for a Title Loan in California?
You may be curious to know if inquiring about an auto title loan in California warrants a credit check. As you may have read, most lenders will deny people with a bad credit score; that is inconvenient when you need cash to cover a financial emergency. Thankfully, title loans in California work without just focusing on your credit history!
Yet, it’s essential to note that title loan lenders will verify your credit during the approval process. But don’t worry! It may not disrupt your chances of getting loan proceeds since lenders use your collateral to help minimize your risk as a borrower without a strong credit history.
But when a title loan lender conducts a credit check, you will go through what is known as a hard inquiry check. It happens when you qualify for a title loan and sign the loan agreement. Although it could take off a few points off your credit score, it could improve with time and effort on your part.
Don’t let your credit history discourage you from obtaining a California auto title loan! As long as you have both of the following qualifications, you could be closer to reaching a final approval status:
- Possess Enough Equity in Your Vehicle
- Have Enough Income to Support a Title Loan Payment Each Month
With loan options like a car title loan, your financial past could be just that- the past! You may be eligible for a title loan, even with a low credit score. Speak with your title loan lender or provider to see if you qualify for money today.
How Does the Approval Process for California Title Loans Work?
Now that you have learned some things about auto title loans in California, it’s time to find out how to apply for one! Fortunately, the process does not have to be complicated. If you choose to obtain a title loan serviced by LoanMart, you could take advantage of a simple online application.
Take a look at the three-step process to inquire about a car title loan serviced by LoanMart:
- Start a Loan Inquiry Online or Over the Phone
- Submit a Few Required Documents
- Get Your Cash if You Qualify!
No matter which way you opt to get a title loan, educating yourself about them before getting one is essential. Once you feel comfortable, you can apply for emergency cash and get a car title loan in California!
