How does a car title loan work?

There are many different types of personal loans available. Some are traditional types of loans, like bank loans, while other may be less well-known, like car title loans. Car title loans are growing in popularity for many reasons and here we will examine how does a car title loan work.

Understanding car title loans

Loans generally fit into two categories – secured or unsecured. Car title loans are secured loans and as the name implies, they are secured with your car. When you take the loan, you sign over the car title to the lender so they become the new lienholder on the vehicle. The lien remains with them for the life of the loan, making the vehicle collateral in the event that you do not make your repayments. When the loan has been fully repaid, you will get the lien back.

How Does a Car Title Loan Work?

How can you get a car title loan?

So, how does a car title loan work? Well, in order to apply you need to provide some specific details about yourself and your car. You can do this online or over the phone – whatever suits you better. You need to get some documents together and make sure they are valid. This includes your car title and insurance. Once you have this all together, you can go into one of our offices to complete the process. This will involve finalizing your loan terms and signing the contract. If you have everything together, the loan can be ready for you in no time. In addition, you may have noticed there is no credit check in the application process and this is because car title loans are available for all applicants.

How does a car title loan work? Simply, easily and quickly! If you need an immediate loan, car title loans are the way to go.

Call Us for More Details at (510) 871-5005  to be transferred to Montana Capital

5 Star Loans, Inc., California Finance Lender #603J988, acts as the broker for the loans, and is not the direct lender. Loans made pursuant to California Finance Lenders Law License # 603F508 Montana Capital Car Title Loans (Simple Cash Loans Inc., DBA)