CAR TITLE LOAN- As the name suggests- it is a loan that requires you to keep your car or any other vehicle as collateral against the debt. Money lenders or automobile agencies tend to consider the vehicle as one of the significant things kept for security, when it comes to title loans. However, the loan limit generally ranges between 25% to 50% of the cash value of the vehicle, against which the title loan has been raised.
After knowing the dynamics of a car title loans, let’s see what are the crucial things you require to apply for the same?
Important Title Loans Requirements- Key to Get Super Fast Approval!
- Title name of the original vehicle that depicts the sole ownership
- An identification issued by the government which should match the name on the title
- Bills or other proof of residency or address to match the title name
- Registration of the current vehicle against which the loan is raised
- A Proof that indicates your vehicle insurance
- Pay slips that help money lenders identify whether you can repay the loan or not
- Crucial things like names, phone numbers and addresses of at least two valid references
- Copies of the vehicle’s keys in a working condition
So these were a few title loans requirements. We hope you have got a clear idea of what you have to bring while you apply for title loans. If you are planning to apply for the same, consider contacting 1st Capital Title Loans.