How Car Title Loans Work In San Francisco
You have plenty of options to get a car title loan in San Francisco, and no matter how you apply, you can qualify for cash in 24 hours with minimal underwriting requirements other than a paid off vehicle and proof of income. Apply with a national lender online or with a local lender throughout the city. Another option is to fill out the California Title Loans online form, but you should know a few things before you consider auto title loans.
First, auto title loans are secured loans backed by collateral from your vehicle. It's quick and easy to get approved because you're putting up the equity from your car as security, and you pay off the loan balance over a few months to 3 years. The lender can take your car if you can't make the payments. So you must fit the payments into your budget before committing to the lending terms. Borrow 40% to 75% of the vehicle's current value and expect a loan of $2,500 to $20,000.
Second, auto title loans typically have high interest rates. Remember, lenders in California are limited by recent legislation, and most companies cap rates at 36%. But there are still some scenarios where you can see a higher APR. Because of that, it's important to compare rates from different title loan companies before you sign on the dotted line.
Third, auto title loans in San Francisco are meant to be short term financial solutions. These pink slip loans can last months or even years if you don't make double or triple the payments!
Title Loans In San Francisco With Bad Credit
One of the best things about San Francisco title loans is that you can get approved even with bad credit. Online title loans use a paid off vehicle as collateral, and a lender focuses more on the equity in your car versus your credit rating.
Expect a California finance company to run a quick credit check to confirm your identity and other information. But there won't be much of an issue if you have missed credit card or loan payments recently or defaulted on your credit report. A licensed lender in San Francisco primarily focuses on a past bankruptcy or if you currently have a title loan with another lender and are looking to refinance.
Apply Directly Online For A Title Loan In SF
The process of getting an online title loan in San Francisco is straightforward. Start by completing the California Title Loans online application. We need your vehicle information, personal details, and the requested loan amount. With that, we'll put together a quote for you that details your loan amount and repayment terms. If everything looks ok, you can finish the underwriting in just a few hours! Complete the vehicle inspection, sign your contract, and get cash from a local lender in San Francisco!
Is An Inspection Required For San Francisco Title Loans
An inspection is often part of the qualifying process for a title loan. These loans don't require good credit, but we typically need to see the vehicle and confirm that it runs and looks as advertised. Your lender will also want to verify the odometer reading, VIN, and other mechanical details.
It takes less than an hour to inspect the vehicle. After the inspection and approval, you can arrange to pick up the funds in person or have the money sent right to your bank account that same day.
Fast Funds With California Title Loans In San Francisco
Online title loans in San Francisco are an intriguing option if you need emergency cash and don't want to wait weeks for a traditional loan lender to underwrite your loan. Here at California Title Loans, we can get you pre-approved in minutes with same day funding if you apply before 2pm PST. Contact us at 855-339-1001 or apply online today!
Other Locations In California: