Car Title Loans – Fast Cash Loans
Most lenders require the car to be in good condition. That means the car must be rust-free, without mechanical problems, be roadworthy and pass all emission tests. Lenders will look at the car to make sure there are no disqualifying characteristics such as a damaged engine or transmission, or have extensive body damage. Sometimes people try to pass off a car with mechanical problems to get the cash they need. In that case the loan would probably be disqualified and penalties would be set in place. Some lenders will require a mechanic to check the condition of the car before approving the loan.
Get the Cash You Need & Keep Driving Your Car
The good news is you can keep driving your car while you repay the car title loan. Your lender will keep the car title and register themselves on it as the lien holder. It’s quite similar to financing a car when you first buy it: you drive the car while making regular payments to the Seller.
There are no restrictions on what you can do with the money you borrow with a car title loan in van nuys. You can usually borrow up to $20,000, depending on the car’s value, how much money you owe on your car, and the lender’s assessment of your ability to pay off the loan. Since the loan is wholly secured only by the value of your car, a bad credit check is not necessary. So if you’ve run into some cash problems in the past, the will stay in the past as far as a car title loan is concerned. You will be approved for an auto title loan without a lot of questions asked. There is no red tape, no hidden costs and no hassles. It costs nothing to apply for a loan, even if your loan is not approved. There may be fixed charges the state imposes to register the line on your car. All fees will be fully disclosed at closing.