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If you are looking for a fast and quick access to cash an auto title loan can be the best option. Just as the name suggests, an auto title loan is funded based on the clear title of your car and its value.  These loans are short term, usually around 30 days to pay off – but some companies allow you to roll the loan into a longer payment program.  Which offers a lot of flexibility to the loan customer.

Traditional lenders refuse to make a loan if a borrower have low credit score, in fear of the customer defaulting on the loan and contributing to the record number of companies having to write these bad loans off of their books. Car title lenders can help bad credit borrowers to secure the funds they need when everyone has said no.  

So basically, bad credit, no credit, slow credit, or bankruptcy does not disqualify you for a vehicle title loan as this loan is primarily based on the title of your vehicle and so no credit check is required. Moreover the lender has sufficient collateral to cover their costs in case of default.Car title lenders are now offering their services online, giving you the option to fill out a short, confidential, online application.  Once the application has been completed a loan specialist will contact you with further instructions on how to obtain the funds and to explain the loan terms.  So apply now for an auto title loan and get the cash in hand regardless of your past credit history.

We are in the midst of a recession that is taking its toll on our country’s working class.  Many Americans are finding it hard to make ends meet and are barely getting by.  Access to short term loans, such as payday and title loans empower the working class by providing access to the cash they need until their next paycheck.

A typical payday loan costs consumers $ 15 dollars for every $ 100 dollars borrowed.  This is less costly than paying overdraft or late payment fees and gives consumers peace of mind until they are back on their feet.

A lot of people who are short on cash have to turn to a payday lender to meet their immediate cash needs.  However, lawmakers in South Carolina are looking to make it tougher for consumers to use this loan product.

Given current economic circumstances, folks are finding it hard to make ends meet.  You try to stretch your paycheck until the next one comes and you find yourself a little short.  So it is easy and makes sense to visit a payday lender to get the funds that will help you get by until your next check.  This is the story for thousands of people in South Carolina.

While some citizens see the benefits to using a payday lender,  South Carolina lawmakers don’t.  They plan to put restrictions on payday lending such as – setting minimum wait periods before a customer could go and obtain another payday loan, having only one loan at a time, and capping the amount borrowed to $600.

The bill is now headed to the Senate Banking and Insurance committee.  Many customers who rely on this source of short term cash oppose the passing of these restrictions.

When you are facing a financial crisis or emergency and have bad credit considering a car title loan may be your best option.  It is easy to obtain online approval for a title loan – all you need is your vehicle for collateral.

If you default on your payments and become delinquent, the lender will take steps to repossess the vehicle.  They will then sell your car to recover their debt.  However, most lenders will work with you to find repayment terms that suit your needs.  In order to borrow the max amount for your vehicle, you need to know how much equity your vehicle holds.  In other words, how do you get an accurate evaluation of your vehicle’s worth?

It is beneficial to educate yourself on how lenders determine the value of your vehicle.  The major factors that lender’s consider are:

• Vehicle make and model:  this gives the lender an idea of how safe your car is and how much value it holds.  Models and brands that are really popular are often considered safer and have better resale value.
• Automobile history:  if your car has been damaged in an accident this makes it more difficult to sell and will decrease the value.  The lender will not be willing to loan as much on a damaged car.
• Mileage and age:  the age of your vehicle and the amount of miles will also determine the loan amount.  The older the automobile and more miles – the less the lender will loan.
• Upgrades and options:  interior upgrades, new tires, wheels, etc. will increase the value of your vehicle – therefore increasing the amount of the loan.

A popular online tool to determine the value of your vehicle is Kelly Blue Book – www.kbb.com.  This site lets you put in all of the details about your automobile and will calculate a precise market value.  Once you have assessed the value of your vehicle, find a reputable lender and fill out their online application.  A loan approval specialist will contact you with further instruction on how to obtain your cash.

Opponents to title loan lending contend that people who use this type of lending to meet their short term financial needs become trapped in a cycle of debt and will ultimately have to surrender their vehicle to the title loan lender.  However industry representatives argue that this is just not the case and that their service offers a realistic option for people to short on cash to cover their bills, and most people pay their loans back on time.

Payday and title stores want to be responsible lenders because they do not want to lend money to people who cannot pay them back.

A typical payday or title loan customer seeks this service because they cannot get the cash they need from a typical banking institution and do not have a friend or family member that is able to lend them the money.  They are often facing impending bounced check fees or incur exorbitant late fees for not paying on time.  In fact, credit card companies are increasing the interest rates on late payers which can cost hundreds of dollars in accrued interest.  These customers often weigh their options and know how much each of these options is going to end up costing.

Industry statistics indicate that about 95% of payday and title loan customers pay their loans off on time.  Sometime this is not in the terms originally set forth by the lender, but lenders do follow best practices and can extend the repayment period with minimal fees being incurred.

Most lenders offer their services online with a quick and easy application process.  There is usually no credit check involved as there is when applying for a bank loan or credit card.  So there is no risk in lowering your credit score by having too many inquiries on your credit file.

As the availability of credit continues to dry up, more consumers are utilizing other means to obtain the cash they need.  One of the more popular alternatives are Title Loans.  A title loan is a short term loan that is based on the value of your vehicle.  To qualify, your vehicle must be paid off and the title must be free and clear of any liens against it.  The lender will determine the amount of funds available to you after inspecting your car.  Typically, this is about half of the vehicle’s blue book value.

For example:

Nissan 350z with a Kelly Blue Book Value of 12k

The maximum title loan available is 6k and the minimum available would be $300.

A lot of lenders offer their services online.  You just need to fill out a short application and wait for a loan manager to call with further details.

Holiday Title Loans – the Easiest Way to Get Cash for Christmas!!!

Fast Auto Title Loans are available online. Are you in need of Fast Cash for the Holidays? If so, applying for an Auto Title Loan is fast and simple at www.AutoCashUSA.com. Click below to start your Holiday Title Loan Application Online! No Faxing, No Problems, Quick Title Loan Service from www.AutoCashUSA.com

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Here is a list of frequently asked questions about Title Loans:

1)  Do I need to have good credit to get a Title Loan?

No. It is typically only one of factors that is looked at if you apply for a loan. Bankruptcy and other forms of bad credit will not automatically disqualify you for a car title loan. Most lenders will approve you if they we feel that you have sufficient income to make the monthly payments and repay the loan.

2)  What factors determine how much I can borrow?

Various factors are taken into consideration such as the year, make, model, mileage, and condition of the vehicle. In addition, the lender will make a decision based upon your ability to repay the loan and make the monthly payments. You can still apply with even if you have bad credit or no job.

3)  What if the vehicle is not registered in my name?

If you have the title to the vehicle and it was properly signed by the previous owner, you are still eligible for a loan.

4)  What if I lost my title?

That’s OK. Usually, you can still be approved for a loan even if you do not have the
title. However, the vehicle must be paid off, and you must be the registered owner of the vehicle.

5)  Is there a penalty if I pay the loan off early?

No, not at www.AutoCashUSA.com.  They only charge you for the days that you have the loan out.

Please check back for more answers to Frequently Asked Questions about Auto Title Loans!

You may have heard about title loans in the past or read about them online. The title loan industry has many critics, but there is another side to title lending that its adversaries do not take into consideration.  Simply put, it is a convenient resource for people who need fast cash.

Title loans are loans where the borrower uses their automobile as collateral for the loan. During the life span of the loan, the borrower maintains possession of their car. These loans have an easy application process and do not require the borrower to have perfect credit. Unlike other loan types, receiving the cash can occur within 24 hours.

Loan critics say that title loans cause bad credit issues and unnecessary debt.  However, this is a misconception – Title Loans are not reported on your credit.  Since title loans also include the collateral of a car to help motivate payback of the loan, this can be viewed as a positive way to keep people out of debt. People are likely to reimburse when they value their collateral.

 A title loan is an alternative for those that may or may not have the qualifications to get approved for a “bank” loan.  If you are in need of a small loan, contact your nearest title loan lender to find out more information and what options are available to you.

Helpful Links:

http://www.autocashusa.com