Sometimes, we land up in a pressing emergency and require funds to support our short-term and long-term expenses.  These funds may bee needed by us urgently however we might not have a strong credit quotient or salary figure to be eligible for such a loan.

A Commercial title loan or car title loan could be the answer to our problem and these loans are the best quick-fix solution to help us get out of a financial crisis.

A Car title loan is given on the basis of the value of your existing vehicle. Similarly, a commercial title loan is granted on the basis of the existing trailer OR truck that is in your possession. Both loans are rather simple to procure and require very little documentation and paperwork.

Commercial Title Loan Process

Even though this is a relatively simple and fast process, we need to understand the key steps involved in procuring a Commercial Title Loans or Car Title Loan:

  1. Firstly, it is important to know and confirm that the Commercial Vehicle Title is in your name as only then would you be eligible to even apply for a loan.
  2. Choose the lender and this could be your nearest bank or lender. A bank may seem to be the safer option but this could also mean that you face some delay and inefficiency, especially in the short run.
  3. Even though your vehicle may be worth a lot of money, it’s best to only take a loan amount that is exactly as per your requirements.
  4. Negotiate the best terms with the lender before signing the final contract which will include roll-over options and duration of loan amongst other things.

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