How To Turn Your Assets Into Cash Using A Title Loan
Did you know that such valuable assets as cars can be used to take out a title loan? If an urgent bill has taken you by surprise and you don’t have the necessary funds to deal with it, a title loan can become a quick and straightforward way to access emergency cash.
How exactly does such a lending option work? How will the loan amount be determined, and what documents will you need to apply? Let’s find out!
How Can You Transform Your Assets Into Cash With A Title Loan?
How Does a Title Loan Work?
A car title loan is typically a short-term loan that allows you to borrow up to 50% of your vehicle’s value. This type of loan is a secured one. To qualify, you would have to give the lender the car title. If you fail to repay the loan, the lender might repossess the vehicle.
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 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 The Value Of Your Car 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. 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 Will You Get Your Car Inspected?
Usually, lenders would 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 would never have to enter the store if you don’t want to. The company values its customers’ time and offers a ‘we come to you’ service. This means that the verification agent will come to your chosen location.
It doesn't matter whether you’d prefer to meet just outside your house or in another place, it doesn’t matter. The process might take only 30 minutes; by then, you’ll already know how much money you can get.
How Much Can You Qualify For?
With a car 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, you’ll get to keep your car and receive the money the following bank business day or, in some cases, the same day.
What Documents Are You Going To Need?
Wisconsin Auto Title Loans, Inc. representatives understand that you’d prefer not to run from one institution to another trying to gather all the required documents. If you decide to do business with this reputable company, you only need your vehicle, ID, and a lien-free title.
Remember that the 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 a car title loan, and we are ready to consider all credit situations.
Turn Your Assets Into Emergency Cash Today!
A title loan can become an easy way to get your hands on a part of your vehicle’s cash value in the shortest timeframe. With Wisconsin Auto Title Loans, Inc., you might be able to get up to $15,000.
By the way, you wouldn’t even have to drive to the store to apply. Fill out an online inquiry, get on the phone with a company 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.