Title Loans in Berkeley, California
People in Berkeley, California find it quite convenient to take out the title loans Berkeley while they are challenged by any financial crisis. This is a quick cash solution for those who want instant financial help to deal with all of their unexpected and unplanned expenses.
Whether you want it to cover your unplanned expenses, or to enjoy a small trip somewhere in California, title loans in Berkeley, California is made available to you within just a few minutes, irrespective of your past credit history. This is a very hassle-free way of taking fast cash when you are in dire need of it.
However, to be eligible and acquire this quick cash solution, you must first of all be more than 18 years of age and a resident of Berkeley. Plus, you should also own a vehicle with its clear title and be ready to undergo just a few minutes application process.
What is a Berkeley Title Loan?
A Berkeley title loan is a short-term secured loan, provided only to the borrowers who own a vehicle with its lien-free title and are ready to keep it as collateral with the lender. Also known as a pink – slip loan, title pawn or title pledge, a title loan though is granted for a very short period of time, its terms and conditions vary from state-to-state. Most lenders in Berkeley, California are ready to offer up to $10,000 title loans, as per the market value of your vehicle. The lenders even grant loans to the people who are afraid of taking out title loans in Berkeley, due to their bad credit scores. Title loan companies prioritize an individual more than his/her credit history.
How To Get A Berkeley Title Loan?
As compared to other traditional ways of taking out loans, it is very easy to secure title loans in Berkeley, California. For this, all you need to do is just fill out the application form, or you can personally visit the lender’s office to apply for title loans. The process of online loan application is much easier than filling it out in the lender’s office itself. When you have completed the application process, one of the reps from the company will start evaluating your vehicle and determine the loan amount on the basis of your vehicle evaluation. In brief, you just need to go through five quick steps, such as:
- Fill out the loan application with required details related to you and your vehicle.
- Submit documents such as ID proof, your income proof, your car title (free of any liens).
- Get a free title loan quote for your vehicle after its evaluation.
- Sign the contract.
- Obtain fast cash.
Title Loans Laws Applicable in Berkeley, California
Vehicle financing in California is regulated by the California Finance Lenders Law. The rights of the consumers are further protected by certain regulations mentioned under the California Code of Law. Understanding laws related to title loans California could get slightly tedious. Therefore, following is a simplified version of all the laws that are most relevant to you, as a borrower.
(i) California Finance Lenders Law
- Any person engaged in the business of lending finance is to obtain a license first.
- The license, however; doesn’t authorize the lender to collect commissions or any other type of additional credit from the borrowers.
- These lenders are to follow a set of codes that requires them to avoid indulging in fraudulent acts.
(ii) Automobile Sales Finance Act
- According to section 2981.7 of the Automobile Sales Finance Act, all contracts signed between the lender and the borrower should be presented in a systematic, written format with all the respective calculations.
- Every term, condition, service and facility should be provided to the subject in writing.
- According to section 2981.8 of the Act, the contract should be devoid of any additional charges that do not include the simple – interest that is permitted by the system.
Who to contact when cheated?
If you face any trouble caused by lenders in Berkeley, California, you can just contact asunder:
Chief of police, Berkeley: Michael K. Meehan
2100 Martin Luther King, Jr. Way, Berkeley, CA 94704
Phone: (510) 981-5900