How Much Money Can I Get With a Car Title Loan
September 19, 2023
We can prepare for all kinds of emergencies, and that includes having a reliable option to get money fast if we ever need it. Car title loans have many advantages over other loan services, and they can even play a part in restoring your financial stability.
From such a statement, you can guess that car title loans don't disappoint when it comes to the amount of money clients are granted, and you would be correct. However, the loan amount isn't decided at random; specific factors can get you more money than the person next to you, and most of these have to do with your vehicle's conditions.
Can I Get Enough Money from a Car Title Loan?
A vast majority of clients get enough money to cover specific expenses, and car title loans have proven useful when tackling a wide variety of situations. Among other things, car title loans have been used to pay for student debt, medical bills, home repairs, and travel tickets. The loan amount can also be enough to cover the down payment for large purchases that would usually take years' worth of savings.
Now, we can't tell you if a loan would cover your specific needs because the process is tailored to what each client brings to the table. The good news is that you can trust your odds after seeing how the process is structured.
First of all, car title loans are less restrictive than other loan options. Title loan companies don't even consider some common traits that would make you unqualified for a different type of loan. By this, we mean that car title loans don't involve credit checks or questions about your financial status. Clients with bad credit can still be approved for a car title loan without having to worry about doing more harm to their credit history.
Another advantage: you get a quick process. Clients can apply for the loan online and complete the remaining steps in a single visit to the loan office. If you are on a deadline and have no time to spare, car title loans can help you save some time and energy along the way.
Lastly, car title loans have surprisingly low interest rates. Many loan options look promising until you get to see the percentage that goes into fees. In the end, you still need to use much of your savings just to stay on schedule with your payments. Car title loans can give you some peace of mind so you don't have to just trade one stressful situation for another. Granted, this also depends on the company you work with so don't be afraid to ask about monthly rates before signing the loan agreement.
How Much Can I Get from a Car Title Loan?
By definition, the amount of money in a car title loan is determined by the equity in the vehicle.
You can secure a car title loan with vehicles of all makes and models, and you can even get a loan with a truck or a motorcycle. Since so many vehicles are allowed for the process, it's natural that the amount of money changes for each case. Moreover, you can't expect to get astounding results if your vehicle doesn't run properly.
The car's year and overall condition are taken into account. Specialists pay close attention to its mileage to see if it still holds its value. With that said, there's still a lot to gain from applying with a classic model or an old sports vehicle, as long as it's a running car.
Title loan specialists look into all these details during the inspection to then calculate the amount of money a borrower can get. On average, you can obtain between 25% and 50% of the vehicle's value at the end of your appointment. The maximum amount is somewhere around $25,000 per loan.
After calculating the amount, the loan specialists don't need your vehicle anymore, so you're free to continue driving your car without taking it back to the loan office during the repayment period.
The Best Place in Florida To Get Money Fast
Quick Cash Auto Loans provides the best service for clients all over Miami and South Florida. We provide an efficient process to ensure no time is wasted from the moment clients apply for a car title loan to their appointment at our office. Our car title loans offer enough money to cover sudden expenses, and your credit history remains untouched from beginning to end, so you don't have to fall behind on your journey to financial stability.
We provide transparency and professionalism throughout the process. You can be open about your expectations and our specialists will keep that in mind while hashing out the loan terms. You can choose the payment system that's more convenient to you and schedule your monthly payments over a period of up to 12 months.
Get a car title loan and all the benefits that go with it. Quick Cash Auto Loans provides an effective process to give you the money you need in record time. Our specialists work with you to ensure you don't feel any stress while making your payments and our monthly rates are as low as 1.50%. If you've never tried this option, our specialists will be happy to walk you through the process so don't be afraid to call (786) 600-3411
or fill out the application form
to ask for more information. You can get the money you need to make several payments without ever touching your life savings. At Quick Cash Auto Loans, your peace of mind is the best reward.