Do you find yourself in a situation where you need cash now? Do you own a car, free and clear, worth at least $4000? Then you may already have the means to solve your problem right in your hands, literally, in the form of your car keys.
A pink slip loan can be the answer. How much leverage you can get from your vehicle through a pink slip loan can be an illuminating situation. By simply completing a free application with the right loan company you can quickly find out how much cash you can borrow.
How Much Can I Borrow?
Depending on the model of vehicle, its condition, and age, the amount of a loan will vary. We offer pink slip loans in the amount of $2,510 and up. With the appropriate paperwork, your vehicle is identified as legal, formal collateral securing the loan.
The benefits of a pink slip loan are multiple. Because the financing involves a known and physical property that’s been appraised, the funding processing can be performed very quickly. Furthermore, the borrower can continue to drive the vehicle secured in the pink slip loan. That allows a borrower to continue life as usual.
The funds from a car title loan can be used as you see fit. As emergency funds, a home repair or renovations project, a backyard improvement, funding for a small business expansion, or helping a child get started in college.
When applying for a pink slip loan you don’t have to worry about extensive application questions, background checks and paperwork. Credit reports and credit history aren’t necessary. Instead, the lender of a pink slip loans focuses on the value of the car involved, confirming its worth via an appraisal and its ownership per the pink slip documentation. Then, the loan is funded when all the agreement paperwork is completed.
Most pink slip lenders are often seen as being controversial. A borrower is often going to give up your car title to get fast cash, usually within 24 hours. If you find yourself in this situation you need to understand that you’re going to shell out a large amount of money in finance charges. Any legitimate lender will tell you exactly what these finance charges are. Interest rates for this service are high, but not like what you see with cash advance and payday loan companies. All this should be broken down in writing when you apply and sign the contract. You will need to have the ability to pay off the title loan early if possible. That way you won’t be charged the excess interest that will accumulate each day. Also, be sure you get to keep driving the car! This is very important. There are companies out there that claim they not only need your car title but they also need to keep your vehicle as collateral. This couldn’t be further from the truth. An applicant does not need to give up their vehicle to get funding for a car title loan. Most of the reputable companies currently advertising vehicle equity funding have no problem letting you keep your car. Be sure that you pay off the loan on time. We stress this to all customers, whether they are looking for a payday loan or cash advance. If you come across a financial situation and you can’t make your monthly payment be sure to call the lender. The last thing you need is to have no car and bad credit. All as a result of the car being repossessed. Not only that, but you’ll still owe whatever the difference is if the car sells at auction!