Commercial title loans help you to borrow cash in exchange for lending the title of your car or any other vehicle as collateral. The title of the vehicle serves as an assurance against the cash provided. And when you return the loan, you can have the title back. Simple!
How Car Title Loans Help You?
Title loans are seen as an easy option to obtain when you are in dire need. Here is how it helps the borrowers
#1. No credit history checked Commercial title loans help people facing credit challenges. Title loan lenders don’t have any credit requirements so they won’t ask about your credit score.
#2. Provide fast cash The most valuable advantage of car title loans is you can collect money when you need it. The money is given in cash so you can use it straightaway.
#3. No need to submit vehicle Commercial title loans allow borrowers to keep using their vehicles in full authority. The vehicle title is used as a guarantee for ownership.
#4. Quick processing time The loan application can be filled online and the approval process is simple. You can receive funds on the same day, thus helping you to easily meet your urgent cash requirements.
#5. Convenient payback options The car title loans come with convenient payment options. Single-payment loans means that you must pay the complete amount and the interest fee within 300 days or less. Installment loans allow you to pay back the loan over 3 to 6 months 1stcapitaltitleloans is a leading provider of commercial title loans.
Call us today for an instant title loan. https://1stcapitaltitleloans.com/
Want an instant loan against your car? If yes, title loans are your solution.
Having a car or any other commercial vehicle registered under your name makes you eligible for title loans. Apply for these short-term loans and collect cash instantly by using your car as a collateral.
Difference Between Commercial Car Title Loans And A Car Title Loans
Commercial car title loans allow you to use your commercial vehicle’s title as collateral to borrow money. This money can be used to fulfil your financial obligations. Once approved, you can collect cash within 24 hours of applying. Any commercial vehicle such as truck, trailer, car, or dumper etc. can be used as a collateral to secure the loan.
Car title loans allow you to borrow funds against your private car. You can use this money to pay debts, put down payment for another car, or meet any other expenditure.
If the vehicle you are pledging is a commercial vehicle then it is called commercial car title loans. However, if you are using your private car to get a loan, it is called car title loans. In both the cases, you must own the vehicle free and clear. Moreover, you get to keep your vehicle for the entire duration of the loan.
1st Capital Title Loans offers car title loans to help you with your cash problems. Just fill out your loan application online and we will make sure that you get the cash as quickly as possible.
Commercial vehicle title loans are a popular choice among borrowers as an easy and trouble-free way of getting cash. If you are also thinking about taking car title loans, here are 8 facts that loan experts want you to know beforehand:
Fact#1. Clear vehicle title
You can borrow title loans against a vehicle that is registered in your name or you own some stake in the vehicle.
Fact#2. Credit history excused
A bad credit score is a red flag for lending agencies such as banks. However, credit history is not checked while applying for commercial vehicle title loans.
Fact#3. Take only what you can repay
Car title loans are an easy way to collect cash against your vehicle value. Make sure you borrow only that much sum that you can easily return or risk losing your vehicle.
Fact#4. More common than you think
Title loans are more prevalent as it offers a convenient way to borrow money to meet financial needs.
Fact#5. High interest fee
Commercial vehicle title loans have APR as high as 300% for a 30-day loan. You can end up paying back more than you initially borrowed in interest fees.
Fact#6. Easy online process
Car title loans have a simple online application process that allows you to submit and get it approved quickly.
Fact#7. Poorly regulated
Legal loopholes in drafting of title loans make it difficult for the borrower to repay their debts.
Fact#8. Consider other loan options
Explore other loan options such as loan against credit card, payday loans, loan against insurance, etc. before choosing title loans.
Get in touch with 1stcapitaltitleloans experts for more clarity on vehicle title loans.
Commercial car title loans help people get quick cash to pay bills or deal with a financial emergency. However, car title loans have high interest rates and involve a risk of losing your vehicle.
5 Facts That You Must Know About Commercial Car Title Loans
Fact#1. You should own a vehicle
To get a title loan, you need to own a vehicle free and clear, or at least have some equity in that vehicle. The lender will return your title once the loan is paid off.
Fact#2. You should be prepared to pay a high interest fee
The lenders charge nearly 1/4th of the loan amount per month as their interest. For example, if you get a $2,000 loan for a 30-day period, then you’d pay $2,500 to settle your loan by the end of the month.
Fact#3. You should avoid defaulting
Car title loans are intended for short-term use. Many customers can’t pay their loan so soon, resulting in refinancing the loan just to avoid defaulting and losing their vehicle.
Fact#4. You can lose your vehicle
If you are unable to repay within the loan term, the lender will take away your vehicle. You will have to pay even more to get your vehicle back plus the due amount.
Fact#5. You should look for alternatives
Consider less risky alternatives such as payday alternative loans, personal loans or credit card advance that offer the best possible interest fee. Borrow only what you can pay back.
Looking for commercial car title loans? Ask 1stCapitaltitleloans to get you the best loan for your vehicle title!
Car title loans are becoming so popular because of the several benefits that the traditional loans do not offer. If you are considering commercial truck title loans, allow us to help you understand the benefits of title loans.
Key Benefits of Commercial Truck Title Loans
#1. Quick Cash
Car title loans are the ideal choice if you need money right away. With 1stcapitaltitleloans, you can collect the cash you need within 24 hours of loan approval. As long as your truck is free and clear, we can approve your loan quickly unlike other types of loans that take at least a few days to process.
#2. Easy Approval
Commercial truck title loans involve an easy application process. Don’t worry about your financial history when you apply as a bad credit score will not disqualify you for the loan. We just need your truck title for loan approval! Just apply online, provide the required information, and the application is approved in no time. Believe it or not, it is as easy as it sounds.
Once you pay off your loan, the title is returned to you after the department of motor vehicles has processed it.
#3. No Prepayment Fee
1stcapitaltitleloans encourages you to repay car title loans earlier if possible. Some lenders charge a penalty on advance payment with title loans but we don’t charge any prepayment fee so you can pay off your loan sooner without paying any extra fee.
Still thinking about taking car title loans? Call us if you have any query and get quick cash for your truck title today! https://1stcapitaltitleloans.com/