Payday Loan 
Title Loan 
Personal Loan 
Business Loan It’s probably not news to you that Safe Online Payday Loans exist. But did you know you can also get online title loans?
What Are Online Title Loans?
A title loan is a loan borrowed against the title of your vehicle. You need to own it free and clear to qualify. You can’t get a title loan if you are still making car payments.
An online title loan is a title loan where the paperwork is completed via the internet. This can be more convenient than going to a local loan broker in person and can allow you to do the paperwork any time of the day or night from wherever you happen to be.
Some online lenders make sure their sites are mobile-friendly, so you can get mobile loans. This means you can apply literally from your smartphone, potentially during your break at work.
Benefits Of A Title Loan
A title loan is an attractive alternative to a payday advance because it doesn’t require you to disclose your personal information.
You may qualify for a title loan if you are 18 years old or older and have an active car insurance policy, current driver’s license, and proof of employment. The funds are then received through electronic transfer directly into the borrower’s bank account.
The borrower will be responsible for paying back the loan in monthly installments through their auto-debit authorized by the lender. With this type of financing option, borrowers can experience relief from financial hardship without having to provide personal information or divulging confidential financial records.
Types Of Title Loans
There are two kinds of title loans:
Secured: A loan that puts a loan against your vehicle as collateral. In some cases, the borrower may have an option of signing the car over to the lender in lieu of paying off the balance of a secured title loan.
Unsecured: An unsecured title loan does not require a car to be used as a form of collateral. The lender will provide funds on a regular basis until the borrower is able to repay their debt with interest fully.
Why Do People Seek Online Title Loans?
Loans Based on Income tend to charge higher rates and be for smaller amounts of money. If you need a fairly large amount of money and you own the title to your vehicle free and clear, you may qualify for a secured loan with terms that more adequately meet your needs.
So maybe you need Auto repair financing because your old car is having problems and it’s your transportation to work. You can’t afford to not repair it, but the repairs are more money than you can comfortably afford out of pocket.
Or maybe you need funds to help cover moving expenses. You need more money than Payday Loans will cover and you need to finance it in installments over some period of time.
Risks Of Online Title Loans
Borrowers are at risk of taking on more debt than they can handle with this type of loan. It is best to research loan companies before borrowing any money because some lenders have restrictions when it comes to car value, income levels, and credit scores. If you have poor credit, apply for a secured title loan instead in order to protect yourself against higher interest rates.
A title loan in the state of California requires that the vehicle be owned free and clear by the borrower. This means that both you and the lender must ensure the title is free from liens or any other encumbrances that could block your vehicle from being used as collateral in case you are unable to repay your debt.
What Documents Do You Need To Complete Online Title Loans Application?
Like all online loans, online title loans will require you to supply some basic information, such as identification, home address, and income. You may be able to document your income with a recent pay stub or bank statement. Forms of acceptable ID include:
- Driver’s license.
- State-issued ID card.
- Military ID card.
- Tribal ID card.
But you will also need to provide a copy of your title. Since the loan is online, you will need to be able to send it in a digital format. If you don’t have a scanner at home, check your local library or look for a paid service. Alternately, you might be able to take a good, clear photo of the document to provide proof.
HHow Long Does The Title Loan Approval Process Take?
Many companies claim to have approved loan applications in under five minutes. But this is not the case in every state. The time it takes for a lender to approve an application may be based on how much you owe, your credit history, and the lender’s own lending standards. Some lenders can require that you take out a larger loan than needed for the vehicle’s current value, especially if you believe you will be able to pay it back in full.
Start Your Online Title Loan Application Now
TheGuaranteedLoans serves as a clearinghouse. We try to help lenders and prospective borrowers find each other and we reduce the hassle of the application process.
You fill out forms with us and we try to find a loan product that looks like a good fit for your needs. We then contact the lender and let them know.
Click the button below to start your application now. We’ll walk you through it.
FAQ
Title loans are easy to qualify for, but it is up to the borrower to decide whether this type of loan is a good idea or not. Many people have experienced success with title loans, while others have found the burden of paying off high-interest rates too difficult to bear.
Some lenders may require at least 30 days of income documentation for those who will be using their title as collateral.
It is important that you read the contract thoroughly to know your rights. If a lender is not willing to work with you, you can check out a competitor who may be more amenable to your requests. Some lenders may offer an extension of time on the loan or lower interest rates.
In some states, all employers can receive a title loan from a lender. In other states, only employees of a specific company may qualify for a Title Loan. Be sure to read the contract to confirm what your employer must do in order to take out a loan with this type of financing company.