When it comes to vehicle title loans, understanding how they work can make a significant difference in handling unexpected expenses. These loans can provide essential cash for emergency situations, but there are some surprising aspects you might not know. Here are four important facts about title loans that can help you make an informed decision when you need it most.

4 Surprising Facts About Title Loans

Applying for a title loan is very straightforward and simple, but, as we said, there are some key details about them that are probably not as widely known. Fortunately, you have found a lender that doesn’t mind answering all your questions, from basic to complex, in order to give you a full understanding of how these loans work. Let’s jump right in to some important things about vehicle title loans you may not have known.

You Need A Lien-Free Vehicle Title

One very important item in our required items list is your lien-free vehicle title. This is the document that proves that you own your vehicle. Without it, there would be no way for you to prove you actually are the rightful owner of the vehicle you are driving. You must make sure that you are finished all the way with paying off your vehicle before you can come here. You must also make sure you have also finished paying off any loans that are on your title before you come here.

We Determine Your Loan Amount Based On Your Vehicle

When you come to Fast Auto Loans, Inc., we offer vehicle title loans from $300 to $15,000. The way we decide how much we can lend you is through a quick vehicle inspection. We first look at the value of your vehicle. That includes looking at Its year, make, model, and condition. We are looking to see in just what kind of shape your vehicle is in. This means it would be smart to make sure your car is in working condition before you come see us.

You Can Keep Your Vehicle

We only keep the title to your vehicle when you obtain vehicle title loans. You can still drive your car as normal and make your pre-determined loan payments until the loan is paid off. The false belief that drivers must surrender their vehicles has kept many would-be customers from applying, but we don’t want that incorrect assumption to stop you! Again, we are only holding onto your title while you repay the loan, not your vehicle!

Bad Credit Doesn’t Hold You Back

When it comes to having bad credit, you probably think it stops any chances you have of getting a loan. And if you can get a bank to give you a loan, it comes with a lot of strings attached. However, when it comes to our car title loans, you don’t have to worry about that. Since you are using collateral to secure the money, we don’t have to rely on your credit so heavily. This means you can still come in and apply for this loan even if you have poor credit!

How to Start the Title Loan Process

Now that you know the surprising facts about vehicle title loans, you may be wondering how to apply. Here are your options:

1. Apply In-Person: Visit your nearest Fast Auto Loans, Inc. office to apply in person. Bring your lien-free title and required documents for a quick vehicle inspection.

2. Apply Online: Alternatively, you can fill out our online form. This form collects your information and allows us to contact you for further assistance. After you submit the form, we’ll reach out to set up a vehicle inspection at your convenience—either at our store or another location that works for you.

Get The Title Loan You Need Today

There you have it, now you know the four most surprising things about vehicle title loans! By now, you should feel confident in your decision to get this loan for your emergency expenses. We here at Fast Auto Loans, Inc. want to be as transparent as possible about our loan. This is why it is vital that you keep these four things in mind. So, if you feel like you fully grasp our title loans and decide you want one, fill out the online title loans form on our website right now to get started on the simple and quick process!

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.