Types of Online Title Loans
When you’re looking to secure a loan quickly, you may find yourself searching for assets to use as collateral. For many title loan offerings, you don’t have to search much further than your own garage! Your vehicles – whether they are purely recreational or help with your daily commute – offer a lot of value in their titles. Because of this, you won’t be surprised to learn that many loan companies will offer you funds in exchange for the titles of things like:
With so many options, you may be tempted to offer up everything from a four-wheeler to a wheelbarrow. But every loan comes with its own risks and rewards, and making an informed decision is crucial for confidence in your financial future.
Advantages and Disadvantages
Although all of the above assets can serve as loan collateral, they differ in their potential pay-out. A title for a small motorcycle has a lot less value than, say, a giant truck. Your motorcycle title loan, then, may get capped at a much lower number.
There are many specificities of a loan to account for, beyond just the vehicle used to obtain it. The payment plan, for example, can play a huge role in the feasibility and financial security of your new funding. Traditional title loans require repayment in full within a 30-day period. Depending on what you’re investing that money into, this may not be a realistic option.
Finally, you run the risk of being rejected based on a poor credit score. Although your vehicle’s title will be exchanged for the loan, cautious lenders may investigate credit and vehicle conditions. This can be a timely process that may not even guarantee a loan at the end of the day.
Title Loan Fast
Title Loan Fast offers you all of the perks of the above loans, with none of the drawbacks. Using your car title as collateral, we can offer you up to $5,000, directly deposited as soon as your application is approved. Our flexible payment plans (ranging from 60 days to a year!) mean that earning your title back will be stress-free and on your schedule.
Trust us – this process is even easier than it sounds. We’re proud to offer same- or next-day funding. And, because we operate entirely online, we let you skip over frustrating steps like credit checks, vehicle inspections, and in-office visits.
If you can provide us with…
- A clear and free vehicle title registered in your name
- Proof of your income and residency
- Photos of your vehicle
- Evidence of an open and active checking account