Why Are People Turning To Title Loans?

Why Are People Turning To Title Loans?

People facing financial difficulties are turning to title loans as they provide fast cash without considering credit history. For borrowers in dire need of money, getting a high amount at a quick speed can be a lifesaver. Commercial title loans can do just that.

Why People Turn to Title Loans

Here are 6 reasons why people are turning to title loans:

#1. Keep your vehicle during the loan period

These loans allow you to keep your vehicle and use it to drive to work or for a delivery service and earn money so you can pay your loan back.

#2. Credit history not considered

The commercial title loans do not check your credit history so it is easier for people with a poor credit score to secure a loan. All you need is to prove that you own your vehicle and your loan is approved.

#3. No Prepayment Fees

Auto title loans come with a high interest fee. To avoid that, you can pay it back early without attracting any penalties.

#4. Affordable payment options

Lenders allow flexible payment options so that you can choose to either pay the loan back in lump sum or in installments.

#5. Simple and quick approval

You can apply for title loans online and get it approved the same day. It is an easy process and you can get fast cash within 24 hours.

#6. Use car title payments for investment

Commercial title loan money can be used as a security deposit for a home or securing a business loan.

1st Capital Title Loans offers instant cash with title loans. Call us now to secure a loan today!

8 Important Facts Know about Commercial Vehicle Title Loans

8 Important Facts Know about Commercial Vehicle Title Loans

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.

Commercial Vehicle Title Loans


Get in touch with 1stcapitaltitleloans experts for more clarity on vehicle title loans.


What are the 5 Advantages of Commercial Title Loans?

What are the 5 Advantages of Commercial Title Loans?

There aren’t many solutions available to someone who needs money right away because time is always on their side. Since obtaining these documents could take weeks or months, most people try to avoid taking out loans that need them to create and submit various types of documentation, such as salary statements, bank statements, and loan repayment history records. Simply put, it is not worth the ongoing misery a person must go through. In came Title Loans and changed the pattern entirely!

The financing procedure has been greatly streamlined by the introduction of title loans, such as auto title loans, commercial title loans, and semi truck title loans which enable customers to obtain rapid cash without having to submit a tonne of documentation.

Top Five Benefits of Commercial Truck Title Loans

Commercial truck title loans and other auto title loans operate under the basic tenet of giving borrowers a loan in exchange for their owned and registered automobiles, which act as security.

Consider the following advantages to completely grasp the situation and why loan applicants should choose business title loans:

  1. It is a brief, small loan that can be paid back right away.
  2. Auto title loans and loans backed by commercial vehicles both have quick approval processes. Your application will be evaluated by the lender in a matter of minutes, and if approved, the money will be made available right away. Usually, the duration is between two hours and two days.
  3. There is no need for a credit check.
  4. You may borrow anything from 25% to 50% of the value of your vehicle.
  5. A revolver credit facility is available for all kinds of auto title loans, including those for commercial vehicles.

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3 things to know about Title Loans before getting one

3 things to know about Title Loans before getting one

What are title loans?

A title loan is an easy and secured loan that the borrower can avail of by giving the borrower’s car title as security. These are the easiest loans to get that don’t take much time to get approved. The best part is the borrower gets the loan amount approved on the same day. The lender is fully secured with the title in hand whether it is for car or commercial Truck title loans.

Things to keep in mind before applying for Commercial Truck Title loans

To have a Title loan you need to own a vehicle

Title loans are easy loans that use the vehicle as security. It is a short-term loan that gets approved on the same day but for that, you need to own a vehicle and should not have any auto loan in your name. You need to have 100% ownership of the vehicle. If you are unable to pay back the loan then you may lose your vehicle.

Loan amount

The Title loan amount you get on the vehicle ranges from 25% to 50% of the value of your vehicle. It totally depends on the lender how much Title loan amount he would disperse against your vehicle.

The interest rate is very high

The interest rate charged on Commercial truck Title loans is usually very high. The lender may charge the Annual Percentage Rate (APR) of 300%. That means if you take the loan you will have to pay 3 times the value of your Title loan.

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How to Choose the Semi Truck Title Loans

How to Choose the Semi Truck Title Loans

According to borrowers, title loans have discovered a solution to this issue and are now a much more popular choice for consumers, particularly business title loans and semi truck title loans.

The same essential premise underlies all auto title loans, including semi truck title loans: a loan is sanctioned and approved in relation to the vehicle provided as security.

How to opt for Semi truck Title Loans

The most important criterion is to ensure that you stick with a reputed lender who is offering you a lower rate of interest and is willing to complete the entire loan approval process within a day or two!

You must meet the following requirements in order to begin the loan application procedure for semi truck title loans:

  1. The driver of the vehicle must present identification verifying their ownership of it.
  2. There shouldn’t be any liens on the vehicle.

If the aforementioned requirements are satisfied, any auto title loans, including semi truck title loans, can be issued in a matter of hours! Borrowers typically need to submit a brief application with information about their name, address, social security number, and family.

Traditional lending was once seen to be the best way to get a loan and use it effectively in the event of a financial emergency or personal necessity.

On the other side, the length of time required to submit and authorize a loan never delighted borrowers. This drawn-out process negated the purpose of getting a loan in the first place, especially because time was of the essence. Semi truck title loans solve these issues and give quick cash without any documentation hassles.

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