Fast Car Title Loans in Fresno California
Car title loans in Fresno California are also called by other names, such as vehicle title loan or auto title loan. It is also referred to as a pink slip loan. In these loans, the borrower’s vehicle is used as collateral for the loan. In return, the borrower gets the loan amount that he is eligible for.
Fast car title loans in Fresno, CA are often a boon for people who are in need of emergency cash. In fast car title loans in Fresno, for example, the loans can be approved and cleared in less than an hour. You can even get loans for amounts less than $1000. Generally, the credit score is not considered or looked into for eligibility for the fast car title loan. As long as you are employed, or have a source of regular income, and a car, you are eligible for a fast car title loan in Fresno. Only the value and condition of the car is considered in many cases for being eligible for a fast car title loan in Fresno.
To get a fast car title loan, you first need to hand over the vehicle title’s hard copy to the company that provides the loan. When the loan amount is fully repaid, the hard copy of the vehicle title is then returned to you. The borrower agrees that the lender will place a lien on the vehicle during the time frame of the loan period.
The monthly fee for the fast car title loan is often as low as 5% or as high as 10% on a monthly basis. The monthly fee for the fast car title loan depends on the wholesale value of the car. So for a loan of $3000 for 30 days, with an interest rate of 5%, you would be paying $3150 after the 30-day period of the loan is over.
Advantages of a fast car title loan:
A fast car title loan Fresno has so many advantages over some of the other loans offered. Some of these are:
- When in need of urgent cash, such as in a medical emergency, a fast car title loan offers convenient ways of getting the cash you need when you need it the most.
- When faced with any financial crisis, a fast car title loan is a quick way to get the money you need.
- There is no exhaustive paperwork involved in getting a fast car title loan approved.
- There is no credit check involved in the approval process.
- The fast car title loan can be obtained in as little as 15 minutes.
What you need to be careful about when taking out a fast car title loan:
Even though fast car title loans Fresno can give you much needed money when you are most in need of it, you need to make sure that you pay back your loan monthly fees in time. When not paid back responsibly, or not paid back in time, or not paid back fully, then the lender will repossess your vehicle and sell it in order to get back the outstanding amount on your loan.
Taking out a fast car loan title is easy in Fresno, as long as you are diligent about paying back the loan in time!