Title Loans in Laguna Niguel, California
If someone told you that a loan was possible in a few days and that you didn’t have to show tons of documentation for approval you would probably say it sound too good to be true, right? It might sound unreal, but be rest assured that title loans in Laguna Niguel are real and available in your neighborhood of Laguna Niguel right now.
Acquiring a loan doesn’t have to be, nor should it be, uncomfortable, not if you have the right information. Actually, getting a title car loan in Laguna Niguel, California can be completed in three easy steps:
- Fill out an application
- Get a pre-approved title loan estimate
- Pick up the cash
Laguna Niguel Title Loan Basics
With most customary loans, a credit score is required –no doubt about it. Doing a credit check causes stress for many and with good reason. Credit scores delve into a perhaps unsavory financial past and judge a person today on prior mistakes. This is unfair, especially to those who are hard-working citizens who have found themselves in a serious money matter. However, with a title loan the applicant can have a sense of relief knowing that the borrowing is based on the car’s value and and not on credit scores or any other personal documentation.
Applicants have received money with bad credit, no credit, or even bankruptcy on file which is wonderful news for those who might have a less than perfect credit history. It can be a challenge to obtain a loan with bad or no credit, therefore, a car title loan in Niguel is the answer to many client’s hopes and wishes.
The Car is Collateral
To be eligible for a title loans California you must own a car, have recently paid one off, or are close to paying one off. If you fall under one of these categories, a title loan is perfect for you. Proof of both of ownership and payment receipts are required and this is considered customary practice.
Be advised, the car and its title become the property of the lender if the borrower cannot make payments. The title loan is similar to pawning an item because the car is used as collateral. However, some lenders, if not all, may allow borrowers to keep their vehicle while making repayments. Ask your lender for details prior to signing any legally binding document.
The Borrowing Dynamic
Title loan amounts can go up to, but not greater than, 85% of your actual equity of the vehicle. Standard title loan practices dictate this amount.
Most lenders will accept bad credit and no credit as the debt is protected by the car’s equity. At no point should clients feel stressed if the lender does an actual credit check, because it will only be office protocol. There is no jeopardy of the lender losing venture because the car will cover the debt if payments are not made.
Stress-free Payment Plans
Clients are able to select their own payment plans which is a great relief to many. This means that clients are able to evaluate their lifestyle, employment status, and regular bill cycle in relationship to the payment plan itself. Clients should ask questions if there are any doubt and talk freely with the lender. There is a plan for everyone, clients should take their time –read, ask questions, and not be hasty when making such a decision. Always consult an expert if something is unclear.