What Happens If You Default on a Title loan?
July 11, 2019
A car title loan is a perfect option for so many Americans who find themselves in a difficult financial situation. Many of us live from one paycheck to the next and it can be hard to stay on track when unexpected bills come up. Not everybody has savings set aside for these situations, and unfortunately, going to a traditional lender is often not a viable option. There could be several reasons for this. First, traditional lenders don't give out fast loans, which could be a problem for someone who needs money fast. Second, there are credit checks, and not all of us have a great credit score. The third issue with traditional lenders is that they will ask why you need the loan. Many traditional lenders won't even issue a loan to pay off bills. The fourth issue with bank loans is that many banks won't issue loans under a certain amount, forcing the consumer to take a bigger loan than they actually need at the time. For these reasons, an auto title loan is a great option.
What is an Auto Title Loan?
An auto title loan is a loan almost anyone can get with minimal paperwork, no credit checks, and a car title that's free and clear. The amount of the loan is based on the equity in the vehicle you use to obtain the loan. This is a better option for many consumers, particularly those who can't work with traditional lenders.
At Quick Cash Auto Loans, we specialize in fast loans for consumers who can't, or don't want to, go through traditional lenders. The process for getting a car title loan through us is easy. All you need to do is provide us with a little bit of paperwork, including proof of where you live, proof of income, and a valid I.D. We will also need to see the title to the vehicle you will be using to obtain your loan, and it has to be in your name. The good news is, just about any vehicle will do as long as there is value in it. The amount of the loan you qualify for depends on the equity in the vehicle.
We don't do credit checks as a requirement for our loans, so you don't need to worry about whether you have good credit, bad credit, or even no credit at all. You also don't need to worry about being without your vehicle. We understand that you still need to get back and forth to work so you can repay your loan, buy groceries, and do all of the daily things that require the use of your vehicle. When you get an auto title loan from us, you get to keep your car the whole time.
What Happens If You Default on a Title Loan
Most people have no trouble repaying their car title loans. Yes, the reality is that sometimes there are circumstances that prevent someone from paying off a car title loan. Since the loan is acquired using your vehicle, a car title loan company is entitled to take possession of your vehicle if you default on a car title loan. Anyone who takes out a car title loan understands that they are using their vehicle as a means for obtaining a loan and the terms of that loan are clearly stated by any reputable car title loan company. Even loans through traditional banks and other lenders work this way. For bank loans, you will need collateral, such as a home or a car.
Don't let this scare you. Quick Cash Auto Loans is not in the business of taking possession of cars. We are here to help consumers who find themselves in tough situations and who need a loan fast. That's why our professional loan assistants work with our customers to ensure they not only understand all of the terms of the contract, but that they get a loan that fits their needs and their financial circumstances. Our loan experts will get you the money you need while making sure the loan you get fits your ability to repay. We don't want to put further financial strain on you. Our goal is to help you out of a bad financial situation, not put you in a worse one.
If, for some reason, a customer finds they will have trouble making a payment or repaying their car title loan, we aren't immediately going to go after their car. We are here to work with you. All you have to do is come in and talk to us, explain your situation, and let us work with you. There is never any reason to fear losing your car and no reason to default on your auto title loan. Quick Cash Auto Loans is here to help you.
If you've found yourself in a tight financial situation and you need an auto title loan, simply fill out the form here on our website or give us a call at (786) 600-3411
. We will be happy to discuss getting you an auto title loan that will fit your needs.
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