Title Loans in Moorpark, California
Financial issues are something that plagues so many Americans including people in the state of California. You are not different. Things happen in life. No one actually is sure when it will happen, whether it is the death of a loved one, loss of a job, a sick relative or having to move from your place of residence for whatever reason. If you are going through an urgent financial situation, then you must be looking for a way out. Title loans in Moorpark are the answer. Many California residents are seeking financial help from title loan lenders and you can too. The process is simple, easy and quick. In less than 24 hours, you could get the money you need to fix that financial situation
The City of Moorpark
The city of Moorpark is located in Ventura County within the southern region of the state of California. The city was established at the time an application was submitted and approved for a Post Office opening in the area in the year 1900. The site of the city was surveyed and owned by Robert Poindexter and Madeline, his wife. Since the latter part of the 1970s, the town has seen much growth with a population of 34,421 since the year 2010. No one knows why the area was named Moorpark, but there are several suggestions such as the Moor Park estate in Hertfordshire, England, which was owned by Admiral Lord Anson. Visit the city’s official website to learn more.
Title Loan Laws
In the state of California, the Title Loan Legislature allows no limit of interest rate on loans over the threshold of $2,500. The law does put a cap on processing fees, though. For example, a loan for $5,000 cannot have a processing fee of more than $75. Lenders must provide full disclosure of all rate of interest, fees and any extra charges.
The Moorpark title loan process is smoother than that of the traditional lender. You don’t need that much to qualify, but the first qualification is for you to have a vehicle that is fully owned by you and has no attached liens. Once you meet this first requirement, then you can proceed with a title loan application, providing the few other documents that are necessary to get funded.
Yes, the requirements for a title loan are minimal. Once your ownership of the vehicle has been cleared and there are no liens, then you must provide these documents to the lender:
- Driver’s license or valid identification card to prove that you are 18 years or older
- Proof of income, which could include any of the following: pay stubs, unemployment benefits, disability benefits, tax returns, worker’s compensation or social security benefits
A title loan lender will consider your loan whether you are self-employed, in between jobs, retired, disabled or injured. As long as you can show that you are receiving steady income, then you are eligible.
What is your credit situation? Do you have bad credit? Do you have any credit history at all? It does not matter to a title loan lender in the Los Angeles area whether you do or not. Your vehicle is the security interest that will provide solace to the lender, reducing the risk of loaning you money. So, your credit situation is not a question. It is not even a thought.
The collateral for the title loan is your vehicle, which again, should be fully owned by you and has no liens. The lender will have to check the title to make sure that it is free and clear. The lender will need information about the vehicle in order to make a value assessment through Kelley Blue Book. Upon receiving the assessed value, the lender will then calculate a percentage for the exact loan amount. Usually, the loan amount would be 25 to 50 percent of the assessed value.
Now, you need to take the next obvious steps to apply for your title loan estimate. It only takes a few minutes to fill out the application and submit it to the lender. After that, the process goes very fast. Within 24 hours, money could be deposited into your bank account. So, apply now!