Did you know that most car title loan lenders can only offer car title loans online in a few states? Unlike payday loans, there are several state-specific differences at play when you are looking for the best car title loans. Car title loans online are continually becoming popular ways to generate fast cash. They are increasingly being used since many real benefits are associated with them. Here are some of the advantages of car title online loans.
Benefits of Car Title Loans Online
- The biggest advantage of getting a car title loan is getting cash fast. A lender can process a car title loan within a couple of days. Why? Because it’s a simple process that only involves the lender assessing your car’s worth to ensure it aligns with the amount of money you want to borrow.
- Anyone who owns a car can get a car title loan because there are background checks or credit checks with car title loans. The lender is giving you a secured car title loan. This means that the loan is based on a certain collateral that you’re putting up. Unsecured loans are offered when there’s no collateral. However, lenders will be giving you money based on the assumption that you will pay it back with interest. There’s virtually no risk for the lender in such cases. As such, they have high approval rates for car title loans. Hence, car title loans online are perfect in case you have bad credit. A bank will most likely not give you the $10,000 that you need for your bills or debt. However, if you own a car, a title loan will enable you to get what you need.
- Another benefit of car title loans is that you will get to keep your car. Even though you’ll give a pair of keys and the title to the lender, you will still be driving the car. As such, there’s no change in your daily life, and you still get your money.
You might spend hours searching for the best car title loans only to find out that most lenders do not offer loans in your state. Furthermore, many companies claim to offer car title loans online in your state when they only want to get all your information and sell it to the highest bidders. Do not waste your money and time looking for an online car title loans lender.
Here are 5 reputable companies who offer car title loans online:
- TMG Loan Processing
TMG is presently the highest rated car title loan company on ConsumerAffairs.com. The company works with all kinds of customers and they will try to fund you for a car title loan of up to $50,000 on the same day after applying. They will approve you for the loan if you have paid off your vehicle and make a minimum of $1,500 a month. In addition, most consumers who have a 1999 or newer vehicle or a vehicle with less than 125,000 miles on it should have no problem in qualifying for the TMG online car title loan.
- LoanCenter Title Loans
LoanCenter is a large company that has been funding online car title loans for more than 12 years. They offer some of the lowest rates within the industry with their funds being processed within a day. To qualify, you should have a job with a minimum income of $1,500 or have a cosigner. LoanCenter allows you to borrow in the range of $1,500 to $40,000. They will also not check your credit to find out what you qualify for. LoanCenter funds online car title loans only in Idaho, Missouri, South Carolina, New Mexico, and Utah.
- MaxCash Title Loans
MaxCash lender claims to be a leading company in the car title online loan industry. They also have 24/7 customer service. On top of that, they have one of the fastest online qualification applications around. To qualify for a car title loan, you need to own a car you have paid off that is not more than 10 years old. MaxCash offers same day title loans up to $30,000 in all states, excluding Oklahoma, New Jersey, Wyoming, and New York.
- Champion Title Loans
Champion will allow you to apply for a car title loan over the phone or online with their ultimate goal being same day funding and approval. They claim to be working with clients in all states, except for New Jersey, New York, North Carolina, Ohio, Virginia, and Pennsylvania. You will have to own a car with less than 100,000 miles on it to qualify.
This company offers some of the lowest rates in the car title loan industry. Currently, they are only offering their online car title loans in Georgia, Missouri, California, New Mexico, Utah, and South Carolina. They have been in business since 2001, and the company is fully licensed across the country.
Getting a car title loan online with good credit involves certain knowledge about the industry and more than just a little toughness. Nevertheless, by shopping around and also using the resources that are available at your disposal, you can avoid being taken advantage of with higher interest car title loans.
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