Title Loans in Elk Grove, California
Title loans in Elk Grove provide a wonderful way to get cash quickly, no questions asked. For title loans Elk Grove, California residents don’t need anything, even good credit, to quality except for a regular source of income and, most importantly of all, a lien-free vehicle title that can be used as loan collateral. The vehicle title protects the lender in case the borrower does not pay back the loan as agreed upon.
Another thing that protects the lender where title loans Elk Grove are concerned is the interest rate on the loan. These interest rates do tend to be a bit higher than average, but there are also many lenders to choose from, which enables borrowers to find a reasonable interest rate if they are willing to shop around and compare rates from one lender to the next.
Another thing to keep in mind is that while title loans California laws do protect the lender in many ways, there are also laws in place to protect borrowers as well. Thus, title loans in Elk Grove can end up providing a safe, positive experience for both the borrower and the lender, providing that everyone is honest and lives up to their end of the bargain.
Protect Yourself Through Education
While, as mentioned, there are laws in place to help protect you, the consumer, you can also take steps toward helping to protect yourself. One of the most important of those steps is to thoroughly educate yourself on title loan laws in the state of California. Knowing the relevant laws that exist in your state means knowing your rights and, thus, being able to make informed decisions.
For example, when you know the laws, you’ll know that title loan lenders have to be licensed in California, which means that you should only work with licensed lenders and that you should take steps to check up on their licenses before dealing with them.
You should also take special care to inform yourself on the rights that exist related to the collection of the title loan debt.
There are certainly a lot of laws in place to protect you as your lender tries to collect on your debt. Some of the rights that you are entitled to as a borrower include the following:
- The right to be called only during reasonable times, defined as not before 8am and not after 9pm
- The right to never be threatened over the phone or in writing
- The right to full disclosure of the debt and the fact that the contact is an attempt to collect a debt
- The right to not be subjected to profanity
- The right to be called a reasonable amount of times, meaning not one call right after the other
- The right to note be contacted at work if you request it
- The right to not have your debt revealed to outside parties, such as any references that you may list
- The right to request proof of the debt
- The right to not be charged more than you actually owe
If Your Rights are Violated
You can decrease the chances of having your rights violated by, as mentioned, carefully choosing your lender and working only with licensed, legitimate lenders. However, be aware that, if you fail to pay your loan as agreed upon, your debt may be handed over to an outside collection agency, which could increase the chances that your rights are violated.
If your rights ever are violated, be sure to report the violations to a local attorney who specializes in these types of cases.
Remember, though, you can keep these things from ever happening by being responsible and paying your loan as agreed upon! So apply to get your free title loan estimate!