Being short on cash can cause a lot of pressure on a family when surprise expenses arise with no warning. The unexpected financial emergencies that affect High Point, North Carolina families every day can cause stress and embarrassment for those who find themselves in a tough situation. Racking up more credit card debt with cash advances is usually a bad solution with their high fees and interest rates, and credit may not be easily found if you have a bad credit score. However, if you are the owner of a vehicle, you are likely eligible for car title loans, regardless of your credit rating.
What Are Auto Title Loans?
Car title loans are short-term loans that are secured by your car or other motor vehicle. Instead of relying on your credit rating, the lender uses your car as collateral for a title loan. Once you fill out the loan application, you turn over your car’s title in return for your cash loan. You continue to drive your vehicle while making payments. Since the lender has your vehicle’s title, they have assurance that if they are not repaid they will have the option to sell the car to cover the unpaid loan amount. If you make your payments and repay the loan interest and principle in full, you will have your car title returned to you free and clear. The application process for online car title loans in Winston-Salem / North Carolina is very simple and convenient, leading to a quick decision from the lender.
To be eligible for title loans, you must be 18 years old and have a free and clear title to the motor vehicle being put up as collateral. There must be no liens on the title. A borrower seeking an online High Point title loan will be asked for information about the vehicle and some contact information.
If an auto title loan sounds like the answer to your current financial troubles, rest assured that the online application process is very easy. Just fill out our form with some basic information, such as your car make, model, mileage and year, and your contact information. An experienced loan representative will contact you shortly to answer any questions you may have and to assist you with the loan process.