If you’re looking for title loans in Long Beach, there are a few things to understand. First, make sure you shop around and compare rates and terms from multiple lenders. Also, if you have bad credit, you may not be able to get the best terms and payment arrangements. However, even with less than perfect credit, you can still find online title loans with reasonable rates and terms. Also, the amount financed will depend on the value of your vehicle. So if you need a large loan, make sure your vehicle is worth enough to qualify.
What Are The Basic Requirements For Online Car Title Loans In Long Beach, CA?
To be approved for a car or motorcycle title loans in Long Beach, you must own your vehicle outright. That means no one else can claim to own the vehicle and it has to be in your possession. Unless you’re looking to refinance an existing car title loan you can’t have any current outstanding loans on the pink slip. You must pink slip in your name with no liens against it. You must provide proof of insurance and a valid driver’s license in CA.
How Much Money Can I Get From An Auto Title Loan Company In Long Beach?
The funding amount from a title loan online is always going to depend on the car’s current resale value in California. Expect to get 35 – 50% of the wholesale value of your car from an equity loan. That means a vehicle worth $14,000 may qualify for a loan of between $5,500 and $7,000. These amounts can vary and depend on the car’s condition well as other factors like what the current resale figures are looking like for comparable sales in Long Beach. Cars are worth more than ever these days and you may be surprised to see how much equity has been built up with your vehicle!
What Are The Interest Rates And Fees For Title Loans In Long Beach?
Interest rates for title loans in Long Beach can range from around 30 percent to 60 percent APR. So if you borrow $1,000 with a 30 percent interest rate, you would owe $1,300 after one year. Some lenders may also charge additional fees, such as a processing fee or prepayment penalty. Be sure to ask about all fees before taking out a title loan so there are no surprises at any time.
As with any high interest loan, it’s in your best interest to shop around and compare terms and fees with more than one company. That way you can find the best deal and even get your current finance lender to lower your rate based on what other companies are offering.
I Can’t Make My Title Loan Payments – What Happens Now?
The bottom line here is that a lender can repossess the car if it goes into default. This scenario is something you want to avoid at all costs and you should consider financing alternatives if you find yourself in this situation. First, try to refinance the loan with a new lender. This can be difficult if you have bad credit but it’s worth a shot. You may also want to consider selling the car to satisfy the loan if you won’t be able to make the payments and if the titleholder allows this in lieu of a repo. Whatever you do, just make sure you act quickly before the lender decides to repossess your car as there’s no way to get around anywhere in Los Angeles County if you don’t have a vehicle!
What Else To About Vehicle Title Loans In Long Beach
As with any short term loan, online title loans come with risks so you need to comprehend what you’re getting into before you move forward. These loans come with very high rates and you should consider other financing methods before you use a vehicle as collateral for a loan. There are many avenues to borrow money at lower rates in Long Beach and you can even see if you qualify for loans or Recovery Act Grants from the city or state.
That being said, auto title loans with bad credit can be a great option for those who need quick cash and don’t have many other funding options available to them because of a bad credit score. Just make sure you do your research online and look for the best financing terms and payoff arraignments before taking out a car title loan in Long Beach.
Get Started Now On An Application For Online Title loans In Long Beach
Are you ready to see how much money you can get with an online title loan in Long Beach? Fill out the quick and easy online application from California Title Loans to get started. One of our specialists will contact you a few minutes after the application is submitted to update you on the status and finalize the lending info. You could have cash in hand in as little as 24 hours from now!