The Benefits of Obtaining a Title Loan

Title Loans SignageIf you have an immediate need for some cash, applying for a payday loan is worth considering. However, if you own a car, another viable solution is to take out a car title loan. To obtain a loan, all you need are a steady income source and your vehicle.

You can quickly get hold of some cash using your car title as collateral. The following are some of the key benefits of car title loans here in Salt Lake City that may help you decide it is the right type of loan for you:

Fast and Easy Process

The process of obtaining a title loan is, in general, simple and quick. In most cases, you can get your cash on the same day you apply, making it a stress-free way to get a loan.

Quick Approval

If you meet the easy requirements, you can get online approval in an instant. As mentioned, all you need is outright car ownership and proof of income.

Continuous Use of Your Vehicle

During the term of the loan, you can continue to use your car. Lenders usually get only the car title. The title returns to you when the loan goes through full payment.

Beats Selling Your Automobile

If you sell your car to cover your temporary cash needs, you will face mobility problems, as you cannot easily get around. Likewise, it would be a hassle to advertise, field phone calls, and meet with potential buyers.

By obtaining a vehicle loan instead, you can get the cash you need almost immediately – within 20 minutes in most cases.

Confidential and Discreet

Lenders are aware that title loan borrowers do not want other people to know about their transaction. Thus, loan applications are in strict confidence. All information strictly safeguarded. This is in addition to compliance with state and federal laws on privacy.

Likewise, they perform no credit check, and no reports forwarded to credit bureaus.

Weigh these benefits against the risks when deciding if this type of loan is right for your needs.