Frequently Asked Questions About Auto Title Loans
July 15, 2022
An auto title loan can be our saving grace when we're short on money. It can help through a myriad of financial problems, from medical bills to ongoing debt. If you're familiar with auto title loans, you've probably heard about how they offer a fast process to assist those on a deadline. Still, it's not rare for people to have misconceptions about the advantages that make auto title loans stand out from other loan options.
If you want to get a car title loan and learn more about the process before getting started, we've got you covered. Today, we answer the most frequently asked questions about auto title loans so that you know what to expect when contacting your title loan company.
- What is an auto title loan?
Let's start with the basics. A car title loan or an auto title loan is a type of loan in which the loan amount is defined by the equity in the borrower's vehicle. This makes car title loans accessible to people who aren't eligible for other types of loans.
- Who can apply for a car title loan?
Auto title loans offer close to no limitations for people to get approved. If you are a legal adult and have a clear title and all your essential documents in order, you're eligible for a car title loan.
- What are the requirements for a car title loan?
A car title loan speeds up the loan process because there's much less paperwork involved. The number of documents might change slightly depending on the company you choose, but the requirements never go beyond basic proof of residence/income, only enough to help the company confirm that you're able to pay for the loan.
If you schedule an appointment with Quick Cash Auto Loans, you only need to bring your driver's license, social security card, vehicle title, registration, and two utility bills. And, of course, your vehicle.
- What types of vehicle qualify for an auto title loan?
All makes and models are allowed. Just keep in mind that the loan amount is tied to the value of the vehicle, so make sure your car is in optimal condition before the appointment at the title company.
- Will the loan company keep my car during the loan term?
No, you can continue driving your car from the moment you get the money you need. The loan specialists only need the car title to finalize the agreement. Each client at Quick Cash Auto Loans is free to drive their car without problem throughout the loan term.
- Can I get an auto title loan with bad credit?
This is one of the most appealing benefits of an auto title loan. Because a car title loan is based solely on the vehicle's value, people with bad credit can get approved as quickly as someone with a good credit score. Moreover, title loan specialists won't ask about your financial status or the reason behind your loan request.
- Does an auto title loan have high interest rates?
Once again, this depends on the company you choose for your loan, but car title loans tend to have lower interest rates than other loan options. The loan process overall is more flexible to save clients stress during the loan term. Quick Cash Auto Loans offers some of the best interest rates when it comes to auto title loans in Miami so that you can pay monthly rates as low as 1.50%.
- How much money can I get with an auto title loan?
The final amount will be determined after your vehicle goes through inspection at the title loan office.
How Long Does It Take To Complete the Loan Process?
Auto title loans are the ideal option if you don't have time to spare. For one, there's no back and forth involving credit checks and other evaluations. Most of the process can be completed in a single session in which specialists inspect the vehicle and work out the terms with the client before signing the loan agreement.
With Quick Cash Auto Loans, you can even begin the process properly without leaving the house since we have a reliable online system that lets you apply for a loan and get in touch with our specialists.
They will fill you in on the details and help you schedule at our loan office for the vehicle inspection. In one single visit, you can define the loan amount and tailor your loan terms to make all monthly payments without stress. You'll walk out of the office with the money you need and your vehicle in tow.
Quick Cash Auto Loans simplifies each step of the process with timely service and the best online payment system to help you protect your routine throughout the loan term. And if you have concerns at any point of the appointment, we are ready to accommodate our services to your needs, so don't hesitate to ask for our assistance if you still have questions about auto title loans.
Don't stress over deadlines and high-interest rates. Quick Cash Auto Loans is here to provide the most efficient service to help you get the money you need when you need it. Quick Cash Auto Loans maximizes all the advantages that make car title loans so popular, and our specialized team is always ready to guide you with the best customer services in South Florida. To ensure a smooth process and no stress during the loan term, contact us by filling out the application form
at the top of the page, or call (786) 600-3411
to get in touch with our specialists.
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