If are looking for a quick and easy cash loan for any reason, consider the fantastic option of car title loans. With its plethora of advantages over other types of secured and unsecured personal loans, title loans may be the best financing option available to you.
Our company makes title loans in Kernersville, North Carolina. In addition, we offer title loans in the Winston-Salem area.
About Car Title Loans
If you are interested in title loans in Kernersville but want to know more about how these types of loans work, here’s a quick overview. First things first, a car title loan is a secured loan, meaning you are borrowing against the value of an asset you own. In this case, the asset is a car. As long as you own the car outright, meaning you have no outstanding loans on the vehicle or tax liens outstanding, you qualify to borrow against your car’s equity.
This type of loan offers many advantages against the other types of personal financing options available today. For one thing, because the loan is secured by your car’s equity, there is no credit check. It does not matter if your credit is good, bad, or non-existent, your car’s equity is what determines the loan.
Unlike pawn loans (the other common type of personal loan available), you do not have to hand over possession of the asset itself, just the title of ownership. This means as long as you keep making payments and eventually pay off the balance, you are able to drive your car and receive a cash loan.
We offer a quick and simple application process: the first thing we require is that you fill out our title loan application, which is available on this website. Just give us the year, make, model, and mileage of your car, along with your name, number and zip code, and our representatives will get back to you at your convenience with a no-obligation, free quote.
Title Loan Rules and Regulations
For title loans in Kernersville, or anywhere in the state, the following terms and conditions apply: when you agree to borrow against your car title, you are required to hand us the vehicle’s title of ownership for the duration of the loan. In addition, the terms of the loan dictate that you are required to make monthly principal and interest payments until the loan is paid in full.
If you happen to miss a payment, we are willing to work with you to ensure you can keep your car and continue making good on payments. However, if you continue to fail to make the required payments, we have the right to repossess your car. Once we repossess your car, we will sell the vehicle to recoup our loan balance. However, if the proceeds from the sale are more than the loan balance, we are allowed to keep the remainder, as you waive your right to this money when you agree to the loan.
Advantages of Car Loans Over Other Options
While a car title loan works similar to typical consumer loans (where you receive a cash loan in exchange for agreed upon principal and interest payments until the loan is repaid), there are many clear advantages to the car title loan. First things first, you can keep your car while making payments, giving title loans the edge against other secured loans. Second advantage is that no credit check is required. Third advantage is that you are able to quickly borrow money for any reason (unlike other types of loans, where you must explain how the money will be used).
If you are interested in borrowing against your car’s equity, fill out our application to receive our free and no-obligation quote.