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How To Ace At Car Title Loan Selection

In this current unstable, unpredictable economy, there are times when taking up a loan becomes inevitable. For example, you could be laid off from your job or an impromptu medical emergency can happen just when you do not have enough inside your bank account to tackle.

During such instances, a loan, especially a short-term loan is your best option. If you have a car and are the owner of that car and you are sure that there is no money owed against it, then a title loan is the best option for you. A title loan can be taken against a car or truck. So how can you pick up the best title loan for yourself? Here are some ways to ensure that you come out with the best deal and not end up being shortchanged.

Value your car 

auto title loan

The amount given to you will depend on the value of your car. You could look online to determine what you particular vehicle is selling for. Remember that any online prices will be what the seller is asking for, not necessarily what it will sell for. Also, the lender will lend to you based on the wholesale value of your vehicle, not the retail. Online prices are retail.

Reputation, trust, and experience

As you go out and look for a company that will give you a title loan, what should you consider? Would you rather have a company that has been in the business for almost a decade or one that has been in business for a month or two? Finding a company that has been in the business for many years with a solid reputation will give the best options that you are looking for and will help you get the right options.  For example, if you are looking for car title loans in Mississauga, you could consider a lender that has been in the business for over 10 years.

Read testimonials from other customers

One of the most assured ways to ensure that you get the best out of such a title loan is by reading what other customers had to say about the lenders that you want to borrow money from. Many established and reputable lenders will often release testimonials from satisfied customers who have used their services. In the event that you come across lenders who do not publish what their previous customers have to say about them, be wary of them. However, be aware that bad reviews have been written about a competitor company or a serial complainer. Many should be taken with a grain of salt.

Compare interest rates

Like you would with any other type of loan, looks, and shop and compare the terms and the interest rates of the car title loans of different money lending companies. The interest rate, in this case, is what it would cost for you to borrow the money from the lender. If the interest rate is high, then you will pay more. If the interest rate is low, then that will be good news for you. It is wise to take the time to compare what different companies have to offer. The good news is that there are many car title loan companies online, making it easier for you to compare the rates. Be wary of the companies that quote cheap interest rates as they tend to have hidden costs and charge discharge fees when the loan is repaid. Many companies hold back from the amount you expect to receive. It is wise to ask if you will receive the exact amount that you are borrowing. If you are not then it would be best to walk away.

Be on the lookout for hidden fees

If the company (you are borrowing from) asks you to pay an extra fee, then you should be on the lookout. Applying for a car title loan is straight to the point. The steps to obtaining a loan include filling out your application, proving your residency and identity and finally present the clear title to the lender. After this, the lender will make sure that the title and the car match and finally assess its value. After this, a loan schedule will be drawn up with the terms, conditions, and rates so check if any hidden fees have been included.

Obtaining a car title loan is pretty easy and straightforward, however before you do so ensure that you take the time to get as much information about the loan you are about to service.

Never pay any upfront fees

If you are asked to pay an upfront fee then run away, don’t walk away, run away. You will ALWAYS lose your money. In some jurisdictions upfront fees are illegal. Do not pay an upfront fee no matter how much you need the money as it will only put you in a worse financial situation when you lose this money paid.

 

 

How To Use Collateral To Reduce The Risk Associated With Defaulting On A Loan

Have you ever been in a situation where you have no money but need to raise it instantly; or your business really needs a quick cash influx to survive but your credit score to obtain the right loan is low? Then using collateral may be your best option.

Collateral is a type of security you give the lender in form of property or an asset against the loan. Most banks and other financial institutions need collateral for secured loans and mortgages. The value of the collateral can be less, equal or greater than the value of the loan. As an applicant, you can give anything you deem valuable from real estate to inventory, jewelry, art and even stocks and bonds.

So how do you use collateral to reduce the risk associated with defaulting on the loan that you have taken?

Know the type of loan and the amount

If you know what kind of loan you want to get, then it will be easy for you to decide what collateral you will use to cover the loan. If you are the owner of a sole proprietorship then you will be required to apply for a commercial loan.

This means that the collateral you offer can be real estate, marketing securities and other assets that you think are valuable. If you are an individual looking to finance a personal project then you can use jewelry, land or even art as collateral. Remember that most banks will need collateral even if you have a good credit score.

Have a detailed account of your asset’s worth

Many people or business owners or individuals using collateral loans think that the asset they have has a higher value and yet the asset may be of a lower value. What you should be aware of is that the banks or the financial institution that you have borrowed from will value the asset based on how valuable it is on the market. It does not matter whether you bought the asset at a high price. If the market value of that asset is low, that will be the value of that asset. If you can’t determine the worth of your assets, you could consider getting an appraiser to give you a clue on the value the bank will give your asset.

Know what to leverage as collateral

Understanding what you can use as collateral will help you reduce the risk associated with defaulting on the loan. There are two kinds of collateral – assets you have against a loan and assets you own. If you possess a loan on an asset, the bank can get the loan by debt restructuring your loan from the lenders that you have a loan against and get the title.

If the collateral you are using has a title proving that you are the owner, the banks will then lend to you only if they can have the title back. Cars and homes are the commonest types of collateral; nonetheless, you can use equipment that has titles of ownership as collateral.

There are some issues linked to each kind of collateral loan that you ought to think about before going to a financial institution or an on-line company for a loan. Using your personal savings as collateral will be allowed because it is considered a low-risk credit for the bank.  The advantage of using your personal savings is that you are assured of a low-interest rest because it is a secured loan. In the event that you fail to pay up the loan on time, the bank will repossess savings to recover the loan.

Finding a Toronto collateral loan can be a huge task especially if you have a bad credit score. There are a number of companies however, that are willing to service your loan. Make sure that you do proper research on the companies before you seek assistance from them.

What Makes A Car Title Loan Different From A Personal Loan?

Are you looking for some extra cash to fund a project that you are passionate about? Then taking out a loan to fund your interests could be your best option. There are many types of loans out there for you to pick from, but if you are looking for quick cash, then you could try taking up a car title loan. There are companies that offer vehicle title loans in Brampton, Mississauga, Toronto and the GTA. However, before you get the loan, finding out why it is unique could help you quicken the decision-making process.

Car title loans, also known as simply title loans, are generally short-term in nature, and the lender uses your car equity as the collateral. The borrower should own the car he or she is using as collateral. Car title loans usually can be given for up to one and a half years and be paid off in 30 days or less. In the event that the lender is not paid on time, most are understanding and will work with you to extend the loan or make other arrangement that help you and suit your needs. Most title loans can be processed in the same day, with funding happening immediately.

The title loan is not the only way one can get cash fast even with a bad credit score, self employed and unemployed. There are options like the Motorcycle Storage Loans, Collateral Loans, Repair Loans, personal loan, pay day cash loans, banks, and credit card loans. If we pit the title loans against personal loans, how would both fare? Moreover, what would it mean for you?

Car loans vs. personal loans

Car title loans and personal loans are two of the most common financial options for obtaining a loan. If you meet their lending requirements, they can be easy to maintain. If we compare the two, you will be able to decipher for yourself what makes car title loans unique.

The advantages of a car title loan are that the borrower gets the money quick. It is a simple process that only requires the lender to determine the worth of the car to ensure that it is worth the amount of the money being borrowed. The second thing is that all you need to get a loan is a car title. To secure a loan in a car title doesn’t require a background check or a credit check. If you have a bad credit score and need cash, then obtaining a car title loan may be good for you. The third advantage is that even after you get the loan, you can still keep and drive the car.

The personal loan gives the borrower funds from a lending company or institution. Personal loans are generally given in banks. An individual can secure a loan against anything of value like a house or home and these institutions do credit checks..

One of the advantages of the title loan is that it has no restrictions on how the money is spent and that the payment structure is flexible. The other thing is that if you have poor credit score then you will not be eligible for a personal loan from a bank, but by using your vehicle you can unlock its equity and borrow against it.

By comparing the two, it is easy to see why the car title loan is the better option for you. It is easy to acquire and you do not need to have a perfect credit score to be eligible for a loan. If you are looking for a title loan that offers the best in service and flexibility, talk to us today, you will find that we listen to your needs and try an accommodate the best that we can. We can even process your loan online using our eLoans or by fax and there would be no need for you to come to our office.

How To Successfully Manage Your Auto Title Loan

There are numerous reasons why you may opt to take out a title loan. Whether it is making rental payment, clearing college fee, boosting your small business or dealing with any other kind of emergency, title loans will always come in handy when you need quick cash. While that may be true, nothing is as liberating as the thought of paying off the loan on time and getting rid of your liability. When you take out an auto title loan, you simply give your car title in exchange for the loan. Lenders assume ownership of the car during the loan term. This is why it is important to ensure you have settled your debt within the required time to avoid penalties and save money.

Paying off the loan early

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One of the biggest advantages of paying off loans early is saving on interest. Interest is actually the additional amount of money that you pay to a lender for offering you a loan. When you take a loan, you will be required to pay it back within a given duration. More often than not, interest is charged over the course of the loan term. The interest usually accumulates over time. That means that the longer you take to pay the loan, the more you are actually going to spend on interest. So if you pay off your loan early, you will be able to save on interest. How do you pay off the loan early? Here is a look at a few ideas below.

Rounding up figures

Title loans have their own terms and conditions. One of them is scheduled payments that you are required to make periodically to completely clear the debt after a certain period. Rounding up figures to the nearest $20, $50 or $100 is an effective way of paying off the loan faster. For instance, if you choose to round loan payments to the nearest $100, you will be surprised by the amount of time it takes to fully pay title loans in Toronto, even when you do not think it’s a huge excess payment. This also works in paying the other types of loan offered such as Repair LoansStorage Loans (motorcycles, Watercraft, etc.) and Collateral Loans (equipment, classic cars, etc.).

Do not skip payments

You should not miss out on payments. You can refinance if it is the last thing have you to do but do not miss out on payment. When you skip payments, you actually fall behind schedule. Falling behind schedule has its own ramifications. It subjects you to possible penalties that make things hard for you. For instance, you are likely to spend more on interest when you face loan penalties.

The minute you make the final payment for the loan, the lein will be removed from your vehicle and you will be able to enjoy a debt free car.

Pay as frequently as you can 

Loan payment schedules vary depending on the type of lender. If you are required to make payments for the loan on a monthly basis, you may consider paying half the monthly amount once in every two weeks. Essentially, this means that if you are required to pay $500 dollar in a moth, you can pay off $250 dollars every couple of week until the loan is totally cleared. The good thing is that there are months with five weeks, which allows you to pay more in the shortest time and save on interest.

When all is said and done, these are some of the ways that you can always rely on when managing your auto title loan. As you might know, auto title loans can be very helpful. So when you acquire one, ensure you have an effective way of managing payments to avoid defaulting and incurring costs.

What Are the Chances Of Getting A Title Loan Without Auto Insurance?

Every once in a while, you will be faced with financial situations that require you to raise funds for dealing with emergencies. Short-term loans happen to be the most reliable solution during these times. This is because they do not involve credit checking that is commonly associated with traditional long-term bank loans. The best part is that you can qualify for the loan and get it the same day. As good as they sound, short-term loans typically come with a trade-off, such as involving collateral.

Title loans

car title loan

A title loan is the type of loan that is given out to borrowers on condition that they provide a vehicle as collateral. When you opt for a title loan, you will simply be exchanging your vehicle’s equity for quick cash. The loan comes with its own terms and conditions. However, it is really nothing to worry about if you keep your side of the bargain.

Is car insurance necessary?

First, you need to understand that once your automobile has a lien against it, it is no longer considered debt free until the loan is paid off. Secondly, you will be required to have full auto insurance coverage for your car until you have cleared all the debt. Lenders are not only interested in providing you with money but also protecting their assets. That is why you have to allow the lender to place a lien on your vehicle. A wrecked automobile is of no value as collateral to lenders. As such, lenders will require car insurance coverage that will cover the vehicle until the debt is finally paid off.

 

Proof insurance

You will be required to provide proof of insurance by lenders before getting the title loan. In addition, it should be up-to-date with a clear indication of its renewal date. The policy should also clearly show the type of coverage that you have for your car. In case you do not have insurance proof card, lenders will obtain the information by getting in touch with your insurance company. Note that not all lenders will seriously follow through with auto insurance. However, if you have all the information required by lenders, it will be smooth when applying for secured loans in Mississauga.

Taking more than one title loan

First, you must provide proof that you own a vehicle. If your car has a lien against it owing another title loan lender, you cannot get a title loan with a second lender. However, you can get additional loans from the same lender using the same vehicle if there is ample equity and you have valid insurance.

Title loans are the best solution for quick cash. However, it is important to know what is required by the lenders before taking out the loan. You need to know the most effective payment strategies that will help you clear the entire debt and have the lien removed from your vehicle. With the right knowledge, you will always make the right choices even when faced with difficult financial situations.

Risks of driving without insurance

Driving without insurance has many risks and pitfalls on its own and nothing to do with loans. Depending on what jurisdiction you live in, the ramifications of being pulled over by the police with no insurance can be very costly. You can have your vehicle impounded which will result in towing and storage charges. In addition, many governments levy onerous fines and penalties on those driving without insurance. It has been reported that some individuals have been hit with fines of up to $20,000. This is compounded by insurance premiums increasing dramatically for the next few years. And then there is the risk that you may hurt or kill someone and be sued without the protection of insurance.

Rather than risk driving without insurance speak to lenders and tell them you do not have it and many times they will lend to you and direct some of the loan proceeds to the insurance company to buy your insurance. There are options for you to get a loan by such avenues as Title Loans, Repair Loans, Storage Loans (using your paid off motorcycle, watercraft, etc.) and Collateral Loans (using fully owned equipment, classic cars, etc.)

The bottom line is, do not drive without insurance because having an accident can end up ruining your life. Drive safely and insured.

 

 

What Happens To A Title Loan When A Car Is Totaled?

An auto title loan is the quickest way of getting cash when you really need it. There is no complex process involved when applying for the loan, and your credit score often doesn’t come into play here. However, you have to provide your car title as collateral for the loan. That is all that is required to get cash in the shortest time possible. But what happens to the title loan when your car is completely wrecked? Does it mean you will pay more? Does it mean you will not pay? Well, here are the answers to all the questions that you may have had in mind in the past.

Loan repayment is still required

First, you will still be required to pay the loan you borrow with your car as collateral. Typically, most lenders require loan applicants to have liability insurance. Car insurance policies, that see to it that you are duly compensated when your car is totaled, are meant to protect both the lenders and borrowers. Therefore, if your car is involved in a serious accident that leaves it totaled (meaning it is beyond repair), the liability insurance company will settle the title loan for you. Unfortunately, if a borrower does not have liability insurance for his automobile, he will still be obligated to repay the loan.

Lapse in insurance coverage

There are also cases where there may have been a lapse in the insurance coverage just right about the time your car is declared totaled. So what now? In such a particular case, borrowers will be liable for loan repayment. It is usually advisable for borrowers to negotiate with lenders by fulling explaining their situation. There is no denying that car accidents are all too common. However, totaling just happens to be relatively rare. Negotiating is one of the ways of trying to get lenders to accommodate you with a new repayment plan.

Is there any collateral left?

Well, the minute your car is declared a total wreck, there will be no collateral for the auto title loan. As a consequence, lenders are more likely to change your title loan into a personalized loan. A personalized loan will definitely come with different loan terms as compared to the auto title loan. This happens to be the case especially if a borrower is unable to provide any collateral on the title loan.

What if you use another car?

If you wish to use another car as collateral, lenders will simply add the balance to your new loan. The new refinancing plan offered by the lender will be capped such that it does not exceed the value of the car you wish to use as collateral. The good news is that the title loan will not be changed and the last thing you will worry about is new loan terms that may not likely favor you. So if you can find a collateral, use it to ensure your title loan is not affected.

All in all, as a borrower, it is recommendable to act fast when your car is totaled. You should get in touch with lenders and explain to them what exactly happened. Most lenders will give you up to three months to catch up with payment. In cases where the borrower has suffered injury due to the accident, it may be difficult to keep up with payments because of medical bills and other expenses that may be related to the incidence. In conclusion, if your car is totaled, you lose collateral. When you lose collateral, lenders may be forced to change your title loan into a personalized loan, which comes with different terms which may not be in your favor.

How To Keep a Good Relationship With A Title Loan Lender

Title loans are short term loans that a borrower gets using equity in their vehicle. The most popular title loan is the car title loan. This loan does not require any credit checks and all you have to provide is proof of ownership for a car you own. People who are in need of an emergency fund, use their car titles to get title loans in Brampton  from reputable lenders and pay back in a specified time with interest. These types of loans are not difficult to get if there is equity in one’s vehicle. They are very useful loans and can be a very positive experience if treated correctly.

The main advantage of car title loans is that they allow you to continue using your car after getting the loan. The only thing you have to di is allow for a lien to be placed on your vehicle. After repaying your loan, the lender immediately removes the lien.

Understand the terms of your car title loan

Be sure to have the Title Loan lender explain the loan to you to  ensure that you understand the details of your loan. Doing this helps you prepare yourself upfront on how you plan to repay your loan on time. You need to ask the lender to explain the terms in a way you can understand. There are important questions that you need to ask and these include:

  • How many times are you allowed to roll over the principal (reborrow)?
  • Can the loan be repaid without penalty?
  • If am unable to pay the whole amount in a month, how much can I roll over to the next month?
  • What are your hours of operation?
  • Can I make electronic payments?

Having these questions answered allows you to plan your finances.

Figure out a repayment plan

Once you fully understand the terms of your car title loan, you need to come up with a plan on how you will be making your payments in time. While most Title Loan lenders offer one to a year and a half terms, some borrowers prefer to repay their title loans in one balloon payment plus interest and get over with the loan. However, not everyone is able to do this. In case you are unable to come up with the principal amount when time comes, you can pay the interest and roll over the principal to the next month. Better still, try and opt for the longer term and pay the loan off when able and take the early payment discount to save you money.

Understand that rolling over your principal so many times costs you more since you end up paying more interest. Cut back on your other expenses to ensure you save enough money to repay your title loan. It helps to talk to your lender and explain your financial status before agreeing on the terms of the loan to see if both of you can work out on a repayment plan that you are comfortable with. The amount given out against a car title loan is usually lower than the value of the car.

All in all Title Loan lenders are easily approachable. They are in the business of lending money and you are a valued customer and should keep this in mind when dealing with them. They need your business as much as you need the loan. It is not only Title Loans that are available, but there are also Repair Loans, Storage Loans (motorcycles, Watercraft, etc.), Collateral Loans (equipment, classic cars, etc.). Chose which one suits you best and use assets that you own to work for you and get you quick and easy loans.

 

How Title Loans Can Benefit Your Credit Score

If you have a less than perfect credit score and you are in need of money, applying for a title loan is one way to get out of your financial mess. If you are worried whether applying for a title loan will have any effect on your already bad credit then you need to read on to find out how it does. Title loans can either worsen your credit score or help to improve it but this depends entirely on your financial choices. Let’s have at a deeper in look at title loans and how they can affect your credit.

How does your credit score work?

If you have a bad credit score, this does not prevent you from applying a title loan. All you need is a title like say a car title to apply for collateral loans in Toronto. Your credit score is calculated from your financial history and lenders use this information to determine whether you are credit worthy. Your credit score determines whether you qualify for a loan or not especially when applying for an unsecured loan. A title loan can only affect your credit if you are unable to repay your loan since this will reflect in your credit history.

How can title loans improve your credit score?

Your loan payment history plays a huge part in determining your credit score. This means if you apply for a title loan and successfully repay it on time, this report reflects positively on your report hence improving your credit report. It is advisable to have a plan ready on how you plan to repay your title loan on time before applying for one.

Can title loans damage your score?

As mentioned earlier, lenders do not really use your credit score to determine whether you qualify for a title loan or not. However, your past payment history can make lenders not want to deal with you if they find out you are a defaulter. This can only happen if you apply for a title loan and then not pay back on time or default on your payments.

Title loans allow one to make roll overs for the principle amount to the next month and only pay the interest in case you are unable to come up with the amount at the end of the month. Each lender has a maximum number they allow these roll overs. You need to find how many times a lender will allow you to roll over your payments in case you are unable to repay on time. Understand that all this information goes to your credit history which can work at your disadvantage in the future.

How to improve your credit score

The first principle about managing your finances is to ensure that you live within your means. Save up every time you get a paycheck to allow you to have an emergency fund. It is not always possible to avoid taking up loans and if this is the case, ensure that you work with a reputable lender. Make sure that you understand all the terms of the loan before signing up. In case there are terms that you don’t understand in the loans agreement contract, have the lender explain them to you in a way you can understand.

In case you already have a bad credit, try cutting back on your expenses and focus on improving your credit score. Pay up all outstanding debts with time to help improve your credit score. You can always approach your lender and agree on terms that will allow you to pay back your loan without too much strain. Only apply for title loans in case of emergencies.

Car Title Loans: Can You Default On Payments?

Car title loans are basically a type of secured cash advance. If you need cash for an emergency expense, you can always approach a lender and provide a car title to get auto title loans in Mississauga. This type of loan does not require you to have a perfect credit score as long as you can prove ownership of a car. The lender will ask you to provide a car title and in return give a loan which you are required to pay back plus interest after a specified time.

The borrower is allowed to continue using his or her car as they service the loan. In the event that you are unable to repay your title loan on time, the lender is entitled to repossess your car. There are few cases of people who default on their car title loans and this usually comes with dire consequences. Some of the consequences of defaulting on a car title loan include:

Credit penalties

Defaulting on car title payments adversely affects your credit score. Lenders give an allowance where borrowers can roll over their principal to the next month and pay the interest only if they are unable to raise the whole amount due in a month’s time. You should do this only when you are sure you cannot pay in time. However, when you roll over your payment, this reflects on your credit history and lowers your credit score.

It gets worse when you default on your payment. In some states, late loan payments can reflect on your credit report up to two years. When one defaults, this report can reflect even up to fifteen years. Lenders are very wary of defaulters and this can lower your chances of getting loans including mortgages in future.

Repossession of asset

As mentioned earlier, when you default on your car title loan the next thing that follows is that the lender will be forced to repossess your vehicle. Most lenders don’t give a notice on when they will repossess the car, so they can show up when you least expect it. This whole process can be quite embarrassing especially when they take your car while at work. This can create additional stress to you and your family.

Avoiding default

The best way to avoid a default is by properly planning your finances. You should prioritize debt payments as you would other expenses. Make sure that you include loan payments in your monthly budgets and ensure that you follow through. Try as much to cut back on your expenses to ensure that you save some money every month to go to your emergency savings. This way if you have a lot of debts lined up to pay and you suddenly lose a source of income, you can comfortably make your monthly payments as you get back to your feet. Only apply for title loans in cases of emergency and you should never use this cash on things that you can easily live without. Financial experts advise people to only apply for loans if they have already cleared their outstanding debts.

Opting for voluntary repossession

Sometimes it happens that due to unforeseen circumstances, you are unable to pay off your title loan. This can happen to anyone. If you happen to find yourself in such a situation, it is best to approach your lender and explain the predicament. You can willingly give up your car to the lender for repossession clearing you from further obligation towards the loan. Doing this not only relieves you of stress but it also allows you to keep the repossession from reflecting on your credit history.

How To Land Yourself The Best Deal For Car Title Loans

There are many reasons why people choose to get loans. Some do it to start up a small business. Others require the money to expand their small business while some need financing to see themselves through school or to deal with other personal issues that could either be major or minor.

If you have ever tried to get a loan when faced with any of these problems, you are probably familiar with the difficulties that are associated with the entire process. While there are definitely quite a number of bumps on the road to getting a loan, car title loans can make the journey smooth. Here is a look at tips that will help you to get a great deal.

Find out about payment options

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First, you need to know the payment options that are at your disposal.  Some people just rush to take title loans without taking time to figure out how exactly they will be required to pay back the loan. Loans can be paid by paycheck or direct payment. So knowing what a lender prefers may help you make the right choice. Secondly, you need to know the term of your loan. A long-term loan sounds great because of low payment every month. However, you will have to deal with the setback of paying more every month on finance charges. In that case, you should do whatever you can to make the loan short-term.

Repayment penalties

Timely payment on secured loans in Mississauga is always a good thing. This is because you will be able to clear the debt in a matter of time and repossess your car title. However, you should be wary when making early payments because they may not always bring good news. There are times when paying the loan early is absolutely a bad idea.

For instance, if you take an auto title loan with a term of more than 30 days, higher chances are that it is going to come attached with an early repayment penalty. What this means is that if you get good cash and decide to clear the entire loan a few months early, you are going to be penalized.

Online loan application

You will find lenders who offer an application process that solely takes place online. Others may ask for further verifications through telephone calls among other media. Essentially, the whole process may last for about 20 minutes at least and an hour at most. The great thing about online title loans is that they save you a considerable amount of time. In addition, you will be able to determine whether your lender requires visual car inspection prior to giving the loan. More often than not, lenders do the inspection on the day of picking up the check.

Eligible automobiles

Although lenders offer pretty much the same services, there are a number of factors that distinguish one lender from another. For instance, one lender may accept cars that were manufactured back in 2003. Another lender may actually accept a car that was manufactured back in 1998. The mileage of your car is usually a critical factor in this case. It would be a good idea to find out about mileage restrictions from your lender especially if your car has a mileage that is greater than 100k.Do this prior to filling out any forms.

Each country has its own legal requirements as far loans are concerned. In particular, you need to find out whether a lender is licensed to operate in your State. This particularly applies to lenders who offer online auto title loans. If a lender is not registered and licensed in your country, there is no way he will be able to grant you a title loan.