Questions to Ask Yourself Before Applying for a Los Angeles Car Title Loan

May 22, 2015 / Comments (0)

car title loan customerWith the ease and immediacy of a Los Angeles car title loan, it may be tempting to rush forward without gathering all the information at your disposal. At Cash Plus Lender, we’re committed to educating our customers so that you not only get the right loan for your needs, but the peace of mind that comes from making an informed decision.

Is a car title loan the right fit for me?

As you may already be aware, there are a number of options available when it comes to loans. If your credit is particularly low, if you have an alternate source of income, or if you have difficulty establishing employment history, many of these traditional lending channels may be closed off to you. In contrast to other loan options, a car title loan operates somewhat differently, and may be a good fit for individuals in unique income situations. Rather than basing your merit on a high credit score or consistent bi-monthly paycheck, a title loan utilizes the value of your car as collateral. Here are some qualities indicating that an auto title loan may be a good fit for you:

  • You have a non-traditional source of income (including government assistance) or are self-employed;
  • You have a vehicle with a clean title that is completely paid off or nearly paid off; and
  • You are willing and capable of repaying the loan over time.

What is a realistic loan amount for my needs?

This is a great question to ask yourself as you begin considering a Los Angeles car title loan. There are a few factors that affect the loan amount you’ll be eligible to receive. These factors mostly pertain to the value and condition of your vehicle, and include standard information such as make, model, year, and approximate mileage. Depending on the age, style, and details of your vehicle, you may be eligible for a loan of anywhere from $2,500 to $50,000 cash. Click here for a complimentary, no-obligation quote that will tell you your potential loan value within minutes.

How quickly do I need to receive my loan?

If you need to obtain a loan quickly, a car title loan may be an especially appealing option. Unlike many other types of loan, once you’re approved for an auto loan with Cash Plus Lender, you will receive your money immediately. This could mean the same day you apply or, depending on your location, you could have your loan money in as little as an hour.

Do I have the necessary documentation on hand?

Having the proper documentation in order when you apply for a Los Angeles car title loan can help to expedite the process, and will enable you to get your loan as quickly as possible. Here’s what you can expect to provide:

  • Valid driver’s license/photo ID (passports and Matricula ID cards are also considered acceptable forms of identification);
  • The title to your vehicle, or a copy of your vehicle’s registration;
  • Proof of car insurance (if you don’t currently have car insurance, just let us know, as we may be able to provide assistance);
  • Proof of residence (pieces of mail establishing your address, most recent utility bill, etc.); and
  • Proof of income (can be established with either three complete, consecutive monthly bank statements or your two most recent paystubs).

If this list feels overwhelming, don’t worry! At Cash Plus Lender, we’re here to help, and may be able to provide a measure of flexibility with regard to necessary documents. If you’re unsure what you’ll need when you apply for your Los Angeles car title loan, feel free to reach us at 800-717-6869, and we’ll be happy to assist.

What’s the best way to deliver my necessary paperwork?

We understand that visiting our physical business location may not be convenient for everyone. Here are some options for delivering your paperwork:

  • Scan and email your documents to contact@cashpluslender.com;
  • Fax your documents to 818-920-6755; or
  • Hand-deliver your documents to our office location at 16134 Nordhoff St, Ste B, North Hills, CA 91343.

Will I need a cosigner?

When coming up with the necessary documents to obtain a Los Angeles car title loan, we’re committed to doing everything we can to help, and may even be able to make exceptions or waive certain requirements. However, if you’re concerned about being able to provide the right materials, or feel you may come up short when verifying your income, enlisting the help of a co-signer may be a good choice.

Simply put, a co-signer should be someone you trust who is willing to take responsibility for the loan on your behalf if payment should ever become an issue. If you choose to involve a co-signer, that individual will also need to complete a full application, including the following items:

  • Proof of current residence,
  • Proof of gross income, and
  • A current and valid California state driver’s license.

If you’re not sure whether you’ll need a cosigner, we can help advise you once you’ve applied. While it might be a smart idea to have a potential co-signer in mind, there’s no need to wait to fill out your application, and we’ll be happy to guide you once the process is underway.

Where and when would I like to receive my loan?

Obtaining certain types of loans can be prohibitively time-consuming and inconvenient. At Cash Plus Lender, we’re dedicated to making the process of getting a Los Angeles car title loan as smooth and simple as possible for our customers. You are welcome to visit us in person at our office at 16134 Nordhoff Street, Suite B, North Hills, CA 91343, or contact us to arrange a time when we can come to you at your home or workplace to complete and deliver the loan. We understand that your time is valuable, and can send a loan specialist directly to your location at your convenience. Again, timing is entirely at your discretion, and whether you opt to visit us or vice versa, we can make sure you get your loan in less than 48 hours.

Do I have the right vehicle for a car title loan?

Any vehicle can be eligible for a car title loan. The type, make, model, and year of your vehicle will simply affect the value of the loan you’re eligible to receive. All we ask is that the vehicle is either paid off or close to being paid off. If your vehicle is completely paid off, that’s great. If your vehicle is close to being paid off, that’s not a problem – we can help take care of the remaining payments as a portion of the title loan. This can be a great solution for conveniently consolidating your auto payments.

As a reminder, with a Los Angeles car title loan, you always get to continue driving your vehicle. Use our simple quote calculator to find out what loan amount you could get for your particular vehicle.

What’s the right repayment option for me?

At Cash Plus Lender, we want to empower you to get the loan you need, and to successfully pay it back over time. Being realistic about your financial situation will not only make the process of procuring a loan easier, it will also help save you money in the long run. We offer flexible repayment plans, and want to ensure that your monthly repayment amount is a comfortable fit for your current income level and situation.

As you consider applying for a Los Angeles car title loan, you should ask yourself what’s reasonable, and take the time to educate yourself about the way that title loans generally work. For example, interest is based on a few factors, including your geographic location, timing of payments, and the specific terms of your particular loan. Typically, APR ranges from about 60% to 180%, but with an approval process that takes less than 15 minutes, you don’t have to worry about guessing what your rate would be. The best way to get the information you need as quickly as possible is to consult with a qualified loan expert. Our friendly staff is available to answer any questions you may have about obtaining a car title loan.

What length of time can I reasonably commit to repaying my auto title loan?

We’re interested in providing the repayment schedule that’s the best fit for your circumstances. We typically recommend a timeframe of anywhere from 12-36 months to repay your loan in full. Ultimately, we’ll work with you to figure out the ideal length of time and the best monthly installment. There are no hidden penalties for either early repayment or additional payment against your loan. Speak with one of our loan agents to determine which option might be the best fit for you (800-717-6869).

Does the lender I’m considering have a good reputation?

This is a critical question to ask when considering a Los Angeles car title loan. Because this type of loan is so genuinely attractive (and for good reason), many companies don’t bother providing all the facts to their customers. In a time of financial stress, it can be easy to make the mistake of believing all lenders are of the same quality, or that you’ll receive the same customer service regardless of where you go. Unfortunately, this is not the case, and it’s of the utmost importance to select a lender you trust. By seeking out a lending company with a strong, established reputation, you can save yourself an enormous amount of time, money, and future stress.

Cash Plus Lender enjoys an excellent reputation as a leader in the industry, and is held in high regard by our customers. Here are few of the qualities that make us a great company:

  • Dedication to superior customer service
  • An honest reputation
  • Accessibility and ease of use
  • Clarity and availability of information
  • Fast, trustworthy, reliable service
  • Excellent communication at all stages of the loan process

As you consider sources for a Los Angeles car title loan, keep in mind that you’re beginning a long-term relationship with your lender. We hope you’ll consider entrusting Cash Plus Lender with your auto title loan needs as you start this important process.

Do I have all of the information I need?

The experience of seeking a car title loan can be confusing and overwhelming, but fortunately you’re not alone. Our friendly staff of experts is here to help answer any questions you may have, and to make sure you have all the information you need to make an informed decision.

Of course, the best information available doesn’t just include general facts, but information that is specific to you. We invite you to visit us online at www.cashpluslender.com to learn more about the process of receiving a Los Angeles car title loan. In under ten minutes, you can receive an instant quote, apply for a loan, and receive pre-approval. There is no obligation or cost for receiving this information, or for consulting with one of our friendly, knowledgeable loan agents. You can also contact us free of charge at 800-717-6869 or via email at contact@cashpluslender.com.

We know that the circumstances leading up to seeking a car title loan may not be ideal, but we believe that the experience of obtaining one can be. Give us a call today. We look forward to hearing from you, and hope you’ll take the opportunity to discover what Cash Plus Lender can do for you.