Many times people find themselves in need of quick cash or facing a financial emergency. One option that is available to people who need money quickly is to get a car title loan. The Net Lender provides people with a way to get cash quickly and easily by borrowing against the equity of a vehicle. These loans are called car title loans, and are also known as rose receipt loans, vehicle title loans, and sometimes vehicle collateral loans.
A main question that people often have regarding auto title loans is this:
Can you get car title loans in California without credit check?
Keep reading the article, or if you prefer just watch this short video and it will answer your question:
The answer is not a simple yes or no ... the answer is that it depends on the lender. In general, most lenders will want to check your past credit and see your credit history to some degree. First, you must understand that there are advantages and disadvantages to making loans.
Second, you need to understand how the title loan credit report works.
Finally, you should understand that, in general, companies that don't get your credit when you get a title loan are generally going to charge more interest on their auto title loans. This is because, without knowing your current or past credit history, you are at greater risk to the lender. The less information a lender has, the worse the image they have of their current financial situation. The more information a lender has, on the other hand, the better image a lender will have. This does not guarantee that you will get a higher or lower interest rate, but it is something car title loan companies take into account.
What are the other things you consider? They are as follows:
- The brand of your vehicle: for example: Ford, Chevrolet, Chrysler, BMW, Honda, Subaru, etc.
- Your vehicle model: a Ford Raptor, a Chevy Corvette, a BMW 3 Series, a Honda Accord
Mileage on your vehicle: In general, vehicles that have more than 200,000 miles will not qualify with a lender, but this is not always the case. This article here will explain more about high mileage title loans.
- Other details specific to your vehicle: These include the fit, the manufacturer's specifications, and whether the vehicle has a salvage title. Of course, the year of the car is also important because newer cars tend to be worth more. For information on how to get a vintage car title loan, go to the link.
- Your Monthly Income: In California, an auto title loan lender generally wants to see at least $ 1,200 a month income so they know they can repay the loan. This will not guarantee that you will get an auto title loan, it is just a general standard that most lenders use.
- Additional Streams or Sources of Income - If you have investments like rental property, royalties, or other sources of income, a lender will want to know this.
- Personal ID - A lender will want to see your ID
- Full vehicle coverage insurance: If you get a title loan on your vehicle, you should understand the following: The lender is financially interested in your vehicle, so if your vehicle is damaged or destroyed in cash, the lender leaves want insurance to protect your financial interest. Therefore, almost all title loan lenders require a borrower to have full coverage insurance for their auto title loan.
- Professional references: a lender will want to see your current job status and will also consider your past history
- Personal references: this depends on the lender. While some lenders give this more weight than others, lenders often want to have a list of personal references.
If you don't know your credit score, there are several ways to check your credit online.
If you are considering getting a car title loan in California, call The Net Lender today. They can call us toll free at 888-539-2065. Our staff is highly trained, polite and will take the time to answer your questions and help you obtain the information you need. Call 888-539-2065 today or fill out the application form on this page. In a matter of minutes you can find out how much money you can get.