Do you want of cash? Have you exhausted all of your options but unable to find a way to your cash problems? Even financially steady families may get caught in financial crises. Prolonged illness, loss of a job or any type of other unforeseen event may compel you to look for quick financing options.
If you are trying to obtain a short-term loan to end your financial crises, you might have heard of the following advertisements related to car title loans:
1 . Get Cash for your Car!
2 . Get Fast Cash!
3. No Credit Check necessary!
Auto title loans are prevalent in several American states. If you want to learn more in regards to Atlanta title pawn have a look at the page.
It is popular among borrowers because the loan program is simple to obtain. You may have heard about it from the neighbors or friends. If you are thinking about obtaining the loan program, you must just join the club after understanding it thoroughly.
What is an Auto Name Loan?
According to Investopedia, it is a short-term loan in which the borrower’s car name is used as collateral.
To obtain the mortgage program, you will have to allow the lender to put a lien on your car title. Also, you will have to surrender the original name to the lender.
What is the Difference among an Auto Title Loan and a car Pawn Loan?
An auto title mortgage allows you to obtain cash and finish your financial crises by pledging your car as collateral. The lender will need the title of your car and never take possession of your car. However if you obtain an auto pawn mortgage from a lender, you will have to surrender your car along with the title of your car.
What are the Requirements for getting an Auto Title Loan?
If you want to obtain the loan program, you have to fulfill the following requirements:
1 . You should be at least 18 years old.
2 . You must have the original title of your car.
3 or more. There should be no lien on the vehicle.
4. The car should not be older than 15 years.
What Documents are required to get an Auto Title Loan?
Following will be the list of documents that are required for obtaining the loan program:
1 . Identification Proof
2 . Age Proof
3. Income Proof
4. Original Title of your Car indicating No Liens
5. Utility Bills
6. Vehicle Registration and Insurance
What is the Process of getting an Auto Title Loan?
Just like any other loan program, you have to submit an application form towards the lender. The lender will consider your own financial situation and analyze the worth of your car. Do not worry if you have bad credit history. If your car is valuable and you have a stable income source, the lending company will approve your loan application.
Getting an auto title loan is simpler compared to you think! If you have ownership of a car, you can use it to get out of your monetary troubles. Truly, your car is your treasure-house. Use it in times of distress.