How To Turn Your Assets Into Cash Using A Title Loan
Facing an unexpected bill or emergency expense? A car title loan might be your fast ticket to the cash you need. With a fast cash title loan, you can leverage your vehicle’s value to get quick funds while still keeping your car.
How exactly does this lending option work? How will the loan amount be determined, and what title loan requirements will you need to apply? Here’s how to turn your car title into cash quickly and what you need to know to get started.
How To Use An Asset To Get Cash With A Title Loan?
What Is A Car Title Loan And How Does It Work?
Car title loans are a type of short-term personal loan in which the borrower pledges their car as collateral to borrow up to 50% of their vehicle’s value. This type of emergency cash loan is a secured one. For a consumer, like you to qualify, you would have to give the lender the car title to your vehicle. If you fail to repay the loan, the lender can repossess the vehicle, so be sure to call if you have any problems with your repayment schedule.
The main reason why many people who have found themselves in a challenging life situation prefer to use their lien-free car titles as collateral for personal loans instead of selling them is that you’ll get to keep driving the vehicle while repaying the loan. This option is convenient for those relying heavily on their four-wheeled friends daily.
How Is Your Car’s Title Loan Value Determined?
A professional verification agent will determine the vehicle's value during a physical inspection. During this procedure, the expert will check the condition of the car and will use a nationally recognized pricing guide to calculate the car's value.
By the way, the most popular pricing guides can be easily found on the Internet. You might want to figure out the estimated value of your car yourself before heading to the lender’s store.
The Kelley Blue Book or Edmunds free car value appraisal calculator can be used for guidance. Remember that many owners tend to overestimate the condition of their vehicles, so try to be unbiased. Also, remember that the lender would typically be able to offer you anywhere between 25% and 50% of the car’s value.
Where Can You Get Your Car Inspected For A Title Loan?
Usually, lenders will ask you to drive your car to one of their store locations. This is where their verification agent would inspect your vehicle and determine the amount you qualify for. Such an option might be inconvenient and quite stressful for some.
Thankfully, with Wisconsin Auto Title Loans Inc., you will never have to enter the store if you don’t want to. We value our customers’ time and offer a ‘we come to you’ service. This means that the verification agent will come to your chosen location.
So, when you’re looking for the best car title loan options in Wisconsin, it doesn't matter whether you’d prefer to meet just outside your home or in another place, we will come to you. The fast cash title loan process might take only 30 minutes; by then, you’ll already know how much money you can get with fast financial resources like these.
How Much Can You Borrow With A Title Loan?
With a vehicle title loan, you can get up to $15,000. The exact amount would depend on your vehicle’s condition and its value. Suppose your car is relatively new and has no significant cosmetic or mechanical defects.
In that case, you might qualify for a rather large sum, which should be enough to help you handle your financial emergency. If approved, and agree to the interest rate, policy terms, and conditions, you’ll get to keep your car and receive a deposit with your money the following bank business day or, in some cases, the same day.
What Documents Are Needed For Car Title Loans?
Still wondering how to get a title loan? At Wisconsin Auto Title Loans, Inc., the representatives understand that you’d prefer not to run from one institution to another trying to gather all the required items. If you decide to do business with this reputable company, you only need your vehicle, ID, and a lien-free title.
Remember that the auto title should not have any outstanding loans or debt attached to it and must have your name on it. You don’t need a checking account to qualify for an emergency cash loan, and we are ready to consider all credit situations. At Wisconsin Auto Title Loans, Inc. we welcome all types of credit to apply and still be considered for approval, unlike traditional loans from a bank or credit union, if you were to compare.
The Title Loan Requirements Needed for Approval:
- Valid driver’s license or state-issued photo ID
- Lien-free vehicle title in your name
- The vehicle for inspection
- Must be the legal age of 18+ to apply
Turn Your Assets Into Emergency Cash Today!
If the fast title loan process explained anything above, it explained how a title loan can become an easy way to get your hands on a part of your vehicle’s title loan value in the shortest timeframe. And with Wisconsin Auto Title Loans, Inc., you might be able to get up to $15,000 with just a few simple title loan requirements.
By the way, you wouldn’t even have to drive to the store to apply for a vehicle title loan, you can complete the application without ever visiting a store. Fill out an online inquiry, get on the phone with a representative, and schedule a meeting with a verification agent at a location of your choice. Your much-needed money is only a few steps away!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.