Every now and then something unexpected comes up and we need some quick cash, and that is money that cannot wait until the next payday. A car title loan can be a means to provide that quick cash that you need, and can normally be done in one day or less.

Some people think that car title loans are only for those with very bad credit and it is a desperate measure of last resort. Nothing could be further from the truth. If your car title loan is repaid on time, the little bit of interest you will pay for the use of those funds plus the ease and quickness that you can get your money make it all that much more attractive as a least-hassle way to go for fast cash.

In order to qualify to get a car title loan, you have to have your car paid off so that you are not still making payments on it. The largest amount of the loan you can get is based on the resale value of the car, so if you have a newer car in good condition, you can get a larger car title loan. You must also be the person on the title of the car in order to be approved for the loan.

Unlike a traditional or conventional loan, a car title loan usually has a term of 30 days, although some can be made for longer. In reality, you don’t want to make it for longer because the interest rate charged reflects the convenience and relative lack of required paperwork for this loan, which means the interest rate is usually quite high. The reason for this is the price you are paying for the convenience, the speed at which you can usually get your money, and to encourage you to pay it back on time, plus create a revenue stream for the company providing the car title loan.

If you need to roll the loan over into the next month or even months beyond that, the interest rate makes it very prohibitive and unattractive to do that unless you absolutely have to. In some cases, that high interest rate may work it out for an extended loan so that you owe twice as much as you originally borrowed! If you are having difficulty paying back the loan, there is also the chance that your car may be repossessed, so make sure you have a plan in place for repaying the loan before you start.

If you need cash in a hurry, a car title loan can be a great way to accommodate that need. With the greatly reduced amount of paperwork required, plus the fact that these loans can usually be approved the same day, sometimes within hours, a car title loan can get you the money you need quickly. Even a conventional loan with a bank or credit union can take days to process and get a check to you, and sometimes you need the cash NOW and cannot wait for several days.

Just make sure you realize you are putting your car at risk if you are unable to repay the loan on time, which could put you in an even worse financial situation!

Are you going to head to an auto title loan lender for extra cash in Torrance, CA? Is the cash a necessity or for something extra like taking your family to the Redondo Beach or maybe going on a fun trip to the Torrance Antique Street Faire? The title loan lender is not going to stop and ask those kinds of questions, it is not a loan requirement. Banks and credit unions will want this information, as their process is much different.

What you will use the money for or why you need it so urgently are not questions which apply to an auto title lender. There are no intrusive questions which apply to the cause of the financial emergency. What a title lender wants to know is based around the payoff. Because these lenders work with what are normally “riskier” applicants, the payoff is the focus for the application.

  • What condition is the car in? Since the title loan is secured with the title to your vehicle, the value of the vehicle is extremely important and an evaluation will be done by lender provided appraiser. The auto title loan lender will need your vehicle on the premises in order to process the application.
  • Do you own the title clear out? Bring the title with you. Your title will not work if it belongs to another party or if there is a lien placed on it. The title lender needs to protect their interest since this is their only way to collect if the loan goes into default.
  • Do you have your California driver’s license with you? There are many factors which relate to this qualification. The photo ID lets the lender know who they are working with and that it matches the owner listed on the title.
  • Show proof of employment. Even though the loan is secured with the pink slip, a lender will ultimately prefer payback in the form of money. This information gives the lender that you have the means to pay off the title loan.
  • Bring in a current utility bill to prove your residence. Often times a license will not have the most current address. Since utility bills are paid each month, you will need to provide the most recent one.

A bank’s application involves pages of documentation and questions to answer. The approval process may takes weeks and include an interview with the loan officer to find out more information. An auto title lender will not waste your time; as long as you bring in all the qualification information, once your car is assessed, you will know right away whether or not your application has been approved. Imagine driving away with the money in your pocket in what could be less than an hour! Fast money is simple when you use an auto title loan in Torrance, California.

Are bill collectors hounding you, leaving you threatening messages on your phone? Is the wolf at your door? If you live in Torrance, a car title loan might be the solution to your cash flow problems. Using the equity of your vehicle as collateral, we can give you a car title loan in Torrance for over $3,000 with monthly payments you can afford. So why wait until all your services get turned off, and you have to pay extra money to turn them back on? Get a title loan today and we will help you put your problems behind you.