by nedrah | May 25, 2022 | 18 Wheeler Title Loans, Auto Title Loans, Car Title Loans
Amongst Auto Title Loans, applying for a Semi truck title loan can be very beneficial for individuals who own these trucks since it allows them to be able to use this money to repair the vehicle as well which can be a very costly affair. Most of the owners try to avoid the same and end up in having issues with the truck which affects their work and the performance of the vehicle.
A semi truck title loan, as the name implies, is a sort of title loan that is available to semi truck owners. The vehicle used as security is the only difference between a semi truck title loan and other auto title loans.
This means that if you apply for a semi truck title loan, you will enter into a formal arrangement with a lender who will give you money using the equity in your semi truck.
The majority of the other characteristics of a semi truck title loan and other types of auto title loans are similar. Take a look at this:
- A loan of around 50 to 50 percent of the current value of the Semi truck can be obtained.
- In order to qualify for a title loan, the Semi truck must be clear of all liens.
- Even if a title loan has been taken out against the Semi truck, the owner is free to use it for personal and professional purposes.
- This type of loan is often issued for a limited length of time and may include a revolver facility.
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by nedrah | May 21, 2022 | Uncategorized
The reason why so many people have turned towards getting car title loans and auto title loans today is due to one main reason – the speed with which the loan is sanctioned.
Speed and ease of processing auto title loans has made it the most preferred way of taking a loan and these reasons have also outweighed some of the limitations of car title loans such as high rate of interest.
To be able to get a traditional unsecured loan is difficult because people usually struggle with bad credit scores and credit history. Hence, when these individuals switch to secured loans, it is again a challenge because no one wants to put up their home or office space as collateral.
This allows for car title loans and auto title loans to gain popularity as it presents the borrowers with a great opportunity to get funds by putting up their vehicle as collateral which is not a concern or problem in the grand scheme of things.
An instant approval for a car title loan happens due to the following reasons:
- Since the lender does not require any proof of income or a credit score rating history, it allows the process to become paperless.
- The only document required to be filled up is an application form which has few basic details such as name, age, date of birth and social security number. This means that there is very little time spent on filling up different forms and waiting for them to get approved.
- Most of the lending institutions offering Commercial car title loans are professionals and have a well-trained and efficient staff.
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by nedrah | May 10, 2022 | Auto Title Loans, Car Title Loans
Traditional loans are reliable however the process to apply for one is cumbersome and complex. No wonder, title loans, especially auto title loans and truck title loans have become the favourite choice for borrowers since there are a lot of benefits and advantages of taking this type of loan as compared to a bank loan or similar loan from a financial institution.
Before we jump to understand the benefits, let’s get a quick understanding of what auto title loan and even a truck title loan is all about.
Auto title loans are loans where you can put your vehicle as collateral and take an amount of loan against the present value of your vehicle. In more simpler terms, the title of the vehicle must be in the owner’s name and it should be free from any existing lien.
Now, let’s list down some of the amazing benefits and advantages of taking an auto title loan:
- An Auto title loan does not require much paperwork! That’s right, they only require you to submit some basic documents like a valid id proof and vehicle documents. You only need to fill a simple application form to get things started!
- Auto title loan allows you to keep your vehicle even after taking a loan against it.
- Auto title loans and truck title loans allow you to take up to 60% of the present value of your vehicle as a loan.
- These loans can be availed within a matter of 60 minutes to 120 minutes!
- No credit rating score needs to be submitted or shown to lenders.
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by nedrah | Apr 21, 2022 | 18 Wheeler Title Loans, Auto Title Loans
Amongst all types of different auto title loans existing in the market today, commercial truck owners are absolutely relishing the fact that they can get access to an exclusive loan named – Commercial Truck Title Loan. Commercial truck title loans work on a similar platform as car title loans however they are best suited for those individuals who own and also use a commercial truck for various personal and work purposes.
At the same time, all commercial truck title loans carry just about the same features as any other title loan and this makes them the ideal choice for truck owners to sign-up for a loan and meet their short-term financial requirements and needs.
To simplify understanding of commercial truck title loans, here are few facts and details which you must be aware of before proceeding to avail this type of loan:
- It is important to note first up that a good or bad credit standing does not have any bearing while applying for commercial truck title loans. Hence, you can apply for this loan irrespective of your credit quotient.
- These loans offer a much higher loan value as compared to other auto title loans. This is primarily due to the fact that commercial trucks are more expensive than any other type of vehicle.
- These loans carry a very high rate of interest
- The loan is made available in less than 30 minutes!
- The documentation required to take this loan is minimal
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by nedrah | Mar 25, 2022 | Auto Title Loans, Car Title Loans, Title Loans
Do you know- how car title loans started?
If you are new to it, then you are at the right place. Yes, in this blog, we will introduce you to the history of car title loans and how it all started.
Early 1990s was the time when title loans came into limelight and that opened a new market, where individuals with poor credit could seek loans. This specific feature of title loans grabbed eyeballs and since then it has grown increasingly popular.
According to studies by the Center for Responsible Lending and Consumer Federation of America, auto title loans have been one of the most popular forms of fundraising amongst people in the west.
Since these are unsecured loans, such as payday loans, they need collateral. For those who owned a vehicle, the car titles were the most reliable way to secure the loans. However, it came with a risk that the borrower could lose their vehicle if they can’t repay the loan. Irrespective of the circumstances, it invited high interest rates that always have APR in the triple digits. These huge sums of money are sometimes called “balloon payments”.
When it comes to the working then similar to a traditional auto title loan, it uses both the car title and the physical vehicle to secure the loan. And, it has the same risk and factors involved for the borrower but the best thing is that the borrowers get easy cash with quick approval.
