FREQUENTLY ASKED QUESTIONS
Not finding what your’re looking for? We might have answers.
Before You Dive into the FAQ: Essential Considerations about Auto Title Loans
Auto title loans have gained popularity as a quick and convenient solution for individuals in need of immediate cash. If you’re considering exploring the frequently asked questions (FAQ) section about auto title loans, it’s essential to equip yourself with some crucial knowledge beforehand. In this blog, we’ll highlight key considerations that will help you make informed decisions and maximize the benefits of an auto title loan.
Understand Your Financial Situation:
Before delving into the FAQ, take a moment to evaluate your financial situation. Consider your income, expenses, and any outstanding debts. This self-assessment will give you a clear understanding of your financial needs and help you determine if an auto title loan is the right choice for you.
Research and Choose Reputable Lenders:
Not all lenders are created equal. Before reading the FAQ, invest time in researching reputable lenders. Look for lenders who have a transparent track record, positive customer reviews, and fair terms and conditions. Choosing a trustworthy lender will ensure a smooth borrowing experience and protect you from potential scams or unethical practices.
Familiarize Yourself with State Regulations:
Auto title loan regulations can vary from state to state. Before reading the FAQ, familiarize yourself with the laws governing auto title loans in your state. Understand the maximum loan amounts, interest rate caps, and any additional regulations that may impact your borrowing experience. This knowledge will help you navigate the FAQ section more effectively and ensure compliance with legal requirements.
Determine the Value of Your Vehicle:
Auto title loans are secured loans, where your vehicle’s title serves as collateral. Before diving into the FAQ, assess the value of your vehicle. Consider its make, model, age, condition, and mileage. Understanding your vehicle’s worth will give you a realistic expectation of the loan amount you can receive. Additionally, some lenders may require a physical inspection of your vehicle, so be prepared for that possibility.
Calculate the Total Cost of Borrowing:
Auto title loans often come with high-interest rates and additional fees. Before reading the FAQ, take the time to calculate the total cost of borrowing. Consider the interest rate, any processing fees, late payment penalties, and other charges that may apply. This information will help you make an informed decision about whether the loan is financially feasible for you and avoid any surprises down the road.
Before immersing yourself in the FAQ section about auto title loans, it’s crucial to be well-informed about your financial situation, research reputable lenders, understand state regulations, assess your vehicle’s value, and calculate the total cost of borrowing. Equipped with this knowledge, you’ll be better prepared to navigate the FAQ section and make wise decisions that align with your financial goals. Remember, an auto title loan can be a valuable financial tool when used responsibly, so approach it with caution and ensure it fits your unique circumstances.
There is a 10-15 day grace period to pay your loan payment from the day it is due. You will be charged a late fee following the due day of the payment.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
The first payment is usually due 30 days after the contract is signed. You may also make arrangements to setup your payment to be made on the day you get paid.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
The car needs to be worth more than the amount of money you borrow. It takes only a few minutes to find out how much you can borrow, and there is no charge and no obligation to find out.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
No, but we do need to know that you have the ability to make your payments. This means you need some sort of income that you can prove. We do allow co-signers on the loan if necessary to get approved.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
Yes. We offer some of the lowest rates and payments in the industry. We can often payoff your existing auto title loan to lower your monthly payment and save you money.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
No. Many people who have a few payments left on their auto loan still qualify. Best of all, we offer some of the lowest rates and payments in the industry. We can often payoff your existing auto title loan to lower your monthly payment and save you money.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
No. There is no penalty to pay your loan early. In fact, paying your loan early will reduce the interest charge on your loan.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
No, a auto title loan is a good way for those with bad credit or no credit to get the cash they need. We use other factors such as value of your automobile your income to see if you can pay back.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
- Clear auto vehicle title
- Need proof of insurance
- Auto vehicle in driving condition
- Need a valid Driver’s License
- Active checking account
- Verifiable income
- Proof of address
- At least 18 years old
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
Yes, if your vehicle is paid off, we can process your loan as long as you are the registered owner or the vehicle.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
The application process varies, but once your application is approved and all documents processed you will have cash usually within few hours.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
The minimum loan amount is $2500 and the maximum loan amount is $25,000 for a auto title loan, based on the condition and value of your automobile.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
An auto title loan allows you to use your car’s title as collateral to borrow money based on the value and condition of your vehicle. The loan amount is based upon the vehicle’s value instead of the borrower’s credit score. The borrower gets to keep driving the car while the loan is being paid.
CALIFORNIA: Loans Made or arranged pursuant to a California Finance Lenders Law License # 60DBO-53460
Important Disclosures. Please Read Carefully
Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice
This website is not an offer to lend. Getautotitleloans.com is not a lender or lending partner and does not make loan or credit decisions. Getautotitleloans.com connects interested persons with a lender or lending partner from its network of approved lenders and lending partners. Getautotitleloans.com does not control and is not responsible for the actions or inactions of any lender or lending partner, is not an agent, representative or broker of any lender or lending partner, and does not endorse any lender or lending partner. Getautotitleloans.com receives compensation from its lenders and lending partners. Regardless, Getautotitleloans.com’s service is always free to you. You are urged to read and understand the terms of any loan offered by any lender and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. This service is not available in all states. If you request to connect with a lender or lending partner in a particular state where such loans are prohibited, or in a location where Getautotitleloans.com does not have an available lender or lending partner, you will not be connected to a lender or lending partner. You are urged to read and understand the terms of any loan offered by any lender or lending partner and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
By submitting your information via this website, you are authorizing Getautotitleloans.com and its partners to do a credit check, which may include verifying your social security number, driver’s license number, or other identification, and a review of your creditworthiness. Credit checks are usually performed by one of the major credit bureaus such as Experian, Equifax, and TransUnion, but also may include alternative credit bureaus such as Teletrack, DP Bureau, or others. You also authorize Getautotitleloans.com to share your information and credit history with a network of approved lenders and lending partners.
Lender’s or Lending Partner’s Disclosure of Terms:- The lenders and lending partners you are connected to will provide documents that contain all fees and rate information pertaining to the loan being offered, including any potential fees for late-payments and the rules under which you may be allowed (if permitted by applicable law) to refinance, renew or rollover your loan. Loan fees and interest rates are determined solely by the lender or lending partner based on the lender’s or lending partner’s internal policies, underwriting criteria, and applicable law. Getautotitleloans.com has no knowledge of or control over the loan terms offered by a lender and lending partner. You are urged to read and understand the terms of any loan offered by any lenders and lending partners and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. Late Payments Hurt Your Credit Score
Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lenders and lending partners immediately and discuss how to handle late payments. Loan approval and your loan amount are based on lender criteria regarding your credit, the condition of your vehicle, and your ability to make monthly payments. You will be charged an interest rate (APR) of 32%-35.99%, in CA and repayment terms range from 24 to 48 months. The minimum loan amount is $2,501. Applicants in CA will also be charged an administrative fee that ranges from 2 to 5% of the total amount financed. These loans carry high-interest rates, and a lender can repossess your vehicle if you fall behind on your loan obligation. Make sure your lender is licensed by all necessary regulatory agencies. Ensure they have a California Finance Lenders Law License as required by the Department of Financial Protection and Innovation. The chart and financing information shown below is an illustrative examples of the total cost for a title loan. The APR below is calculated according to equal-length installment periods. All loan applications are subject to meeting Lenders’ credit criteria, which include providing acceptable property as collateral. Customers need to demonstrate the ability to repay the loan. The minimum loan amount for a Title Loan in California is $10,600. Not all applicants are approved. The application process could take five (5) minutes to complete. Upon completion, conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 5 PM PST on a business day. The Annual Percentage Rate (APR) is 32.9% with a repayment period between 24 to 48 months. For example, a loan of $10,750 that includes an origination fee of $75, with an APR of 32.9% and a term of 36 months, will result in a monthly payment of $474.14. 2 An automatic payment and interest rate reduction will occur each month up to an overall interest reduction rate of 20%, while your loan meets all of the following eligibility criteria: (1) the loan must be less than 30 days past due at all times, (2) the loan cannot have been modified, (3) the vehicle cannot have been repossessed, and (4) the loan cannot have reached its original maturity date. If at any time the loan does not meet all of the above eligibility criteria, the loan will no longer qualify for any automatic payment and interest percentage point reduction.
USA PATRIOT ACT NOTICE: IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. If you are using a screen reader and are having problems using this website, please call 951-465-7599 for assistance.
THE CHART BELOW REPRESENTS ILLUSTRATIVE EXAMPLES OF THE COST OF A LOAN TO A QUALIFIED BORROWER. IF YOU HAVE ANY QUESTIONS OR WOULD LIKE MORE INFORMATION, PLEASE ASK. MAKE CERTAIN YOUR QUESTIONS ARE ANSWERED COMPLETELY. MAKE CERTAIN YOU UNDERSTAND THE TERMS AND COSTS OF YOUR LOAN.
NUMBER OF MONTHS
ANNUAL % RATE (APR)
FINANCE CHARGE
AMOUNT FINANCED
MONTHLY PAYMENT
TOTAL # OF PAYMENTS
12 (minimum)
24
36
48 (maximum)
35.9056%
35.9047%
35.9520%
35.9450%
$537.96
$1,091.64
$1,698.24
$2,354.04
$2,625.00
$2,625.00
$2,625.00
$2,625.00
$263.58
$154.86
$120.09
$103.73
$3,162.96
$3,716.64
$4,323.24
$4,979.04