Why Are Car Title Loans Popular?

June 11, 2021 | Daniel Dewitt

why are car title loans popular

 

Every one of us has gone through an emergency expense we can’t handle alone. When that happens, we need cash as quickly as possible. Car title loans are a viable option for those people who need quick cash.

But what exactly is a title loan and what makes them so popular? Let’s break down the 7 most notable reasons you should remember car title loans when you need cash on short notice.

Seven Reasons Car Title Loans Are A Popular Option

1. Car Title Loans Are Easy To Qualify For

Car title loans use your vehicle’s title as collateral for a lump sum of cash. You only need to satisfy two qualifying requirements to be eligible for a title loan:

  • Be over 18 years old;
  • Own a car outright with a lien-free title.

That said, we here at Fast Auto Loans, Inc. cannot just take your word for it. You will need to provide a few required items proving you qualify. These items are:

  • A driver’s license or valid state-issued photo ID to prove you’re over 18;
  • Your car title that is lien-free and in your name so you can put it up as collateral;
  • The car itself for inspection to determine the maximum loan amount you qualify for.

2. You Can Get Car Title Loans Even With Bad Credit

Borrowers of all credit types are eligible to apply for a loan at Fast Auto Loans, Inc. in Arizona.

This means you can get a title loan regardless of what your credit looks like. It can be good, bad, or even outright nonexistent.

Even if the loan representative performs a credit check, the result isn’t likely to disqualify you, as long as the required items are in satisfying condition.

3. You Can Get Car Title Loans Even If You’re Unemployed

You don’t need to provide proof of income to get a title loan. This is because title loans are secured loans and you’ll be putting up an asset – your car title – as loan collateral. We can discuss your repayment options if you cannot repay with your paycheck from work.

4. Getting A Car Title Loan Doesn’t Harm Your Credit Score

Fast Auto Loans, Inc. also doesn’t report its loan information to any credit agencies. As such, the title loan you’ll be getting won’t influence your credit history in any way. It will neither bring the score up nor down.

 

title loans AZ

 

5. Car Title Loans Are Convenient For Busy People

The title loan application process at Fast Auto Loans, Inc. is simple and straightforward. You don’t need to jump through complicated bureaucratic hoops, provide us with a bunch of documents, or wait for approval for weeks. You don’t even need to pay multiple visits to the store.

You start the application process online from the comfort of your own couch and go to a short appointment on the same day. Fast Auto Loans, Inc. has multiple near locations, but if you’d rather not visit the store, you may arrange for a loan representative to meet you at a more convenient location.

6. The Car Stays With You For The Duration Of The Loan

We here at Fast Auto Loans, Inc. don’t keep your car for the duration of the loan payoff. That seems to be a misconception that car title loans can’t seem to shake. But it is something you do not need to worry about.

In reality, it’s the car title that will stay with us since it is acting as collateral. The car stays with you for the duration of the loan payoff and you’re free to use it for commute same as before.

7. Car Title Loans Are Fast

You can save a ton of time on your title loan application by starting the process online – it will only take you a few minutes to submit the form and hash out the details with the loan representative on the phone.

After that, you’ll only have to pay one visit – or have us come to you – to a nearby location for a quick inspection that should last no more than 30 to 45 minutes. You’ll get the cash you need on the next bank business day at the latest if you get approved.

Here’s How You Get Car Title Loans

Make sure you’ve got all the required items – the state-issued ID or driver’s license, the car itself, the car’s lien-free title in your name – before starting the application process for car title loans.

If the items are in order, you can just submit a filled-out online form on the website and wait for the loan representative from the nearest location to contact you and schedule an appointment. If you don’t want the appointment to take place at the store, you can ask the representative to meet you at another convenient location.

Bring in the required items for the loan representative to assess. They’ll determine if you qualify for the loan and what the terms should be. If they approve you – you’ll get the cash on the next bank business day at the latest.

Get A Car Title Loan Today To Help You Out

When you are in need of quick emergency cash, you should keep title loans in consideration. We here at Fast Auto Loans, Inc. can sit with you and go over your chances of approval. Apply right now and get up to $15,000 quickly and easily. Fill out the online form when you are ready.

Fast Auto Loans Inc

If you are searching for a convenient way to get a title loan, look no further than Fast Auto Loans, Inc. We offer online title loans where no store visit is required or in-store title loans and installment loans. To get started, fill out the simple online form above or give us a call at any one of our convenient store locations.

All you need is the following items:

  • Driver’s License or State Issued I.D.
  • Lien-Free Title to Your Vehicle
  • Your Vehicle for Inspection

When you’re ready to get the emergency cash you need without all the hassles of a traditional loan, Fast Auto Loans, Inc. has you covered with a car title loan up to $15,000 today.

Carolina Title Loans