Requirements for a CA Title Loan
Are you wondering what do I need to get a title loan in California? Or the question of how to get car title loans in CA? You have come to the right place! We can help you decode the title loan process from start to finish. It's easy to use your pink slip to secure a loan, because you will not need to jump through hoops or bend over backwards to get your money.
The most important piece of the puzzle is your lien-free pink slip. In order to get a quick cash advance, you will need to temporarily hand over this document to a lender as collateral. You will also need to make sure that your name appears on the title.
Since your borrowing amount is based on the current market value of your vehicle, you will be asked to provide basic details related to your automobile. Information such as the year, make, model, and estimated mileage will be considered. In order to know where you stand, you can get a free pre-approval quote simply by entering your contact and car information on our easy-to-use online application.
Important Documents to Get a Title Loan
In addition to a free and clear pink slip, there are a few other pieces of information to prepare. You should already have the required documents in your possession, so you will just need to gather them and present them to the title lender.
Different lenders require a slightly different set of documents, but you will need to have the following regardless of where you pick up your cash:
- Proof of residence (any bill accepted)
- Government issued ID
- Lien-free title
- Proof of income
It is important to note that a matricula (Mexican ID) is also an accepted form of identification. Some borrowers who are currently unemployed freeze up when they find out they need to show proof of income. However, there's no need to panic, because documents such as social security or disability awards letters are perfectly acceptable.
In other words, you do not need to be presently employed in order to qualify for a title loan in California. Depending on the lender you work with, you may also be asked to produce the contact information for personal references. These individuals will not be privy to the nature of the telephone call, so your privacy will remain intact at all times.
Benefits of CA Pink Slip Loans
Now that you know what you need to get a CA pink slip loan, it is time to tell you about the benefits of this unique borrowing option. Although you can drive off with cash in as little as 24 hours, you will not be expected to pay off your loan in such a short span of time.
In fact, a majority of California title lenders allow you to take as long as 42 months to pay. Keep in mind that if you want to settle up ahead of schedule, you can do so without being charged any prepayment penalties.
Since your loan is secured by your pink slip, it doesn't matter what your credit report looks like. A poor or nonexistent score will not prevent you from being approved. In addition, a car title loan is an ideal way to get the money you need without altering your daily lifestyle.
You will need to temporarily hand over your pink slip to a lender as collateral, but your vehicle will remain with you at all times. Once you have made your final payment, your proof of ownership will be returned in the same condition as it was received. From start to finish, the CA title loan process can take a mere 24 hours, so gather the necessary documents and begin the easy online application process today.