What Are Car Title loans?
Car title loans may sound confusing, especially because they go by so many names – “auto title loans”, “cash title loans” and “pink slip loans” are just a few that you may have heard – but in reality, they’re quite straightforward.
To be clear, title loans use the equity you own in your vehicle as collateral to secure a short-term personal loan. What that means is that you trade temporary ownership of your car for a lump sum, cash loan.
The benefit of car title loans is that you can get the cash you want without having to actually give up access to or use of your vehicle. All that we need is to take temporary possession of your car’s pink slip. As long as you keep making loan payments, you can continue to drive your car whenever you want!
Car title loans are one of best ways to raise money in a hurry, and they’re especially useful for people with poor credit. But every title loan company operates different, and City Loan is widely regarded to be the best auto title loan company in California.
Why? Our loans are fast, easy and convenient. If you want to raise some fast cash, be sure to give us a call first.
How Do Car Title Loans Work?
One of the best parts about car title loans is that they’re simple, straightforward, and easy to understand. The following four step process makes it easy to figure out how title loans work:
- You give us temporary possession of your car’s title
- You get a cash loan based on the value of your car
- You make a series of payments to pay back the debt
- Your car title will be returned after the loan has been paid off
To make sure that you fully understand how they work, we’ll walk you through all the details during the applications process.
How Work Car Title Loan
However, so that you have a basic understanding when you call, here’s some additional information: When you first contact City Loan, we’ll request information about your vehicle – things like the make, model, year, and etc., as well as its mileage and condition. We’ll use this information to determine the value of your car, then make you a cash loan offer based on that calculated value.
If you agree to take the loan, you’ll give us temporary possession of your vehicle’s title, but will still be able to drive your car wherever, whenever and however much you like as long as you keep making payments on your loan.
After your loan has been paid off, we begin the process to return your car’s title to your name. It’s really that easy!