How To Avoid Getting Denied For Car Title Loans
Getting denied for car title loans when you’ve put your time and effort into applying is frustrating, but we usually have good reason. You might find that the reason for your denial is simpler than you think. In fact, there are things you can do to make sure you avoid getting automatically denied when you come see us at Fast Auto Loans, Inc. for your car title loans. This article will review the core tips you should know to avoid being automatically denied for your title loans.
Remember These 4 Tips To Avoid Not Getting Title Loan
1. Bring Your ID
First and foremost, you need to prove who you are and that you aren’t a minor. This serves some obvious purposes to prevent cases of fraud or unscrupulous individuals taking the money and running. Most likely, you have a driver’s license to prove your identity if you’re putting up a car for title loans. If not, that’s okay. You can alternatively use a non-driver’s license, military ID, student ID, or passport to fill this requirement. Just make sure your ID is state-issued and has your picture on it.
2. Check For Liens
Next, and arguably most important, you want to check your car’s title for liens. If you have a paper title, it should have a section labeled lienholder. If there’s a name signed, then you’ll need to pay off your lienholder, ask them to submit a lien release form, and bring that, along with a completely filled-out application for a duplicate title, to your DMV office. Keep in mind that there’s a fee when you take this route.
Now, if you have an electronic title, this one is a little easier to have the lien removed — just pay what you still owe, and the lien should be removed by the lienholder for you quickly. Of course, if this option proves to be an issue on your application even after you’re in the clear, you can contact the lienholder to take further action to remove the lien. Now, you may be wondering why liens even matter. Well, this is why liens matter to us so much:
- Liens are an important talking point for us because we place liens against vehicles used for car title loans to secure the money. If there’s already a lien on the vehicle, then the title is worthless as an asset that is being put at risk. Other types of loans require you to provide proof of income or some other assurance of repayment; secured loans rely on the ‘weight’ of the asset you provide, in this case, your car title. If there’s no reason for the borrower to protect that asset, then there’s no value in the collateral.
3. Provide Your Car
Your vehicle itself is necessary for us to see to issue car title loans. Remember, your car does the talking in determining what you could get on your loan. Newer cars are worth more, as are cars in good condition that have been well-kept over the years. One of our associates needs to see the car to verify its condition and resale value. These all determine your loan amount, all the way from $300 to $15,000. We price your car on a nationally recognized scale, so know you’re getting a fair estimate.
4. Honesty Is The Best Policy
One last tip to avoid being denied is to be as honest as possible about your intentions and the items you provide to us. You must make sure all the information you provide to us is accurate. This means making sure your full and legal name appears on your ID and your title. You also need to make sure the vehicle matches the title. In essence, if there’s anything misrepresented or inaccurate about a client’s personal information, it’s a red flag that makes us hesitant.
Begin Our Simple Process
If we’ve convinced you that we’re worth checking out, you can now learn our quick, hassle-free process to apply for car title loans. All you have to do is go through these four steps and that’s it! No confusing terms and conditions or hidden contracts to deal with; it’s all laid out for you simply. So, if you are ready to get started, follow these steps so we can tell you if you qualify for approval and how much we can lend:
- Submit the online form on our website for your convenience so we get your information.
- Wait for a representative to call you back and schedule a meeting (we can come to you).
- Go to the meeting with your required items either at the nearest store or somewhere else.
- If approved, get your money potentially on the same day or the next bank business day.
Apply With Us Today!
We here at Fast Auto Loans, Inc. pride ourselves on simple, clear car title loan terms. With our list, we can help you avoid any mistakes and make sure you’re going to have the best chance of getting car title loans to help you with your emergency expenses quickly and easily. Are you ready to get started and find out if you qualify for approval here with us? Fill out our online form found on our website today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.