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Title Loan facts you NEED to know – Title Loans San Francisco
By Loan Mart | April 29, 2009
I think everyone likes a list of facts. Title loan FAQ’s just dont cut it really because you need to know more. After all there is a lot of companies offering car title loans today so which company do you use?
FACT #1 – Some title loan web sites are not even title loan companies
This is a disturbing trend because as the title loan industry grows and more legitimate companies get their name out there, some people like to gather information so they can attempt to sell you on other products. You probably get the offers all the time offering you a credit card for people with bad credit. We don’t sell your information because there is no one to sell it to! We are the direct lender and not a middleman and everything you tell us is between us and you only.
FACT #2 – Companies can loan you just a few hundred dollars in California
Not even close. California law states that car title loan companies have a minimum amount they can loan. This number is $2510. Any company that offers you just a few hundred – beware!
FACT #3 – You should never have to pay anything up front!
We have heard about some companies asking you to pay up front fees. A normal title loan company never asks for up front fees.
FACT#4 – You do not need a clean title to get a title loan
You may have some payments left on your car and you want to pull part of the equity out of your car. This fact is true if you have a few payments left. Car title loans is based on the auction value of your car so the first thing that needs to be done is to determine if you have enough value in your vehicle to meet the state standards. Once that is done, the title loan company will look at how much you owe and if the value is high enough, pay off the old debt so you can start fresh.
FACT #5 – You do not have to apply for a loan to see how much your car is worth right now
You probably noticed the chat feature on this site. You can apply online directly or chat to get your cars value. The chat is manned by loan underwriters so you are asking your question directly to us, and not someone who is guessing at the answer.
So apply now and see how much you can get!
Topics: Title Loans | 2 Comments »
August 21st, 2009 at 1:34 pm
what is the minimum my car has to be worth to qualify for a loan?
August 22nd, 2009 at 3:29 pm
$2600 is our smallest loan