Out of all the available credit options, what comes out as the most affordable option is Auto Title Loans. These are best for all those who are looking for instant cash without falling prey of many formalities. These are the short term loans that do not consider any of your financial asset while providing credit. The applicant only needs to pledge his or her vehicle as collateral. There is no need for you to provide any financial statement or balance sheet for availing credit. The lending company utilizes the title of your vehicle and safeguards it as security.
The best part is that you can continue using the vehicle even when the vehicle is under loan. The lender does not secure the vehicle as the only thing they require is title documents and a set of spare keys. This way your vehicle remains in safe hands despite the tenure is on and could be used the way you want it to. However, one needs to keep in mind the fact that these are short term loans that run for 30 to 60 days. Any sort of delay in repaying the loan could cause possession of the vehicle by the lending company.
The amount that is available as credit depends upon the condition of the vehicle. The lending company evaluates a market price based upon parameters such as make, engine, year of manufacture and overall working. The company sends a surveyor to evaluate the price. In most cases, the applicant gets up to 50% of the market value as credit. You do not have to worry about the credit score as these are secured loans. The lender has to do nothing with the credit score as they have a vehicle kept as security. There are no hard and fast rules that you need to oblige. Here are the things that you need to keep in mind while opting for loans.
- The applicant has to be above 18 years of age
- The applicant needs to hold citizenship of US
- The vehicle that the applicant is pledging needs to be free from any previous loan or dues.
- The title of the vehicle should be in the name of the applicant
- The lender has to keep a set of spare keys and a copy of title.
With minimal applicable conditions and instant approval, you can rely upon Auto Title Loans.
The best part is that you can continue using the vehicle even when the vehicle is under loan. The lender does not secure the vehicle as the only thing they require is title documents and a set of spare keys. This way your vehicle remains in safe hands despite the tenure is on and could be used the way you want it to. However, one needs to keep in mind the fact that these are short term loans that run for 30 to 60 days. Any sort of delay in repaying the loan could cause possession of the vehicle by the lending company.
The amount that is available as credit depends upon the condition of the vehicle. The lending company evaluates a market price based upon parameters such as make, engine, year of manufacture and overall working. The company sends a surveyor to evaluate the price. In most cases, the applicant gets up to 50% of the market value as credit. You do not have to worry about the credit score as these are secured loans. The lender has to do nothing with the credit score as they have a vehicle kept as security. There are no hard and fast rules that you need to oblige. Here are the things that you need to keep in mind while opting for loans.
- The applicant has to be above 18 years of age
- The applicant needs to hold citizenship of US
- The vehicle that the applicant is pledging needs to be free from any previous loan or dues.
- The title of the vehicle should be in the name of the applicant
- The lender has to keep a set of spare keys and a copy of title.
With minimal applicable conditions and instant approval, you can rely upon Auto Title Loans.