Pink slip loans work in Riverside? How can advance loans work and more!
These cash advance loans, also known as title loans can be an extremely quick way for you to get money if you have a financial emergency. Why these pink slip loans have become popular is because you can have a poor credit history including automobile repossessions, a past bankruptcy, or a foreclosure. A cash advance loan lender isn’t as concerned with your past credit history. Another benefit is speed. You can get these loans quickly. Traditional banks generally takes weeks to for underwriting and run exhaustive checks on your credit, income and other financial history.
How fast can I get money if I borrow it by using my vehicle as collateral?
Generally you can get money in as little as 1 or 2 days…it depends on getting the correct paperwork to the lender, and also a few other factors. You will need to provide full coverage insurance, identification, a clear title free of liens (in most cases), pictures of the vehicle, registration, mileage on the vehicle, and some references.
How important is my credit score need when getting a title loan in Riverside?
This depends on each lender. It also will depends on the make, model, and vehicle you are trying to get a loan on. The more the vehicle can resale for, the less risk there is to the lender. Keep in mind you can lose your car if you do not pay the payments when getting an auto title loan. Generally, but not always, if you have a credit score of 500 you can qualify.
When trying to get a pink slip loan what types of vehicles can work?
This depends on the vehicle. Normally, if your car has more than 200,000 miles on it, lenders won’t give you a full amount–however there are lower amounts available. In the state of California for a traditional title loan the state minimum is generally $2,510. Diesel vehicles often can have more than 200,000 miles on them since they have engines that tend to last longer.
What other things will help me or hurt me to get a cash advance loan?
Your monthly income will come into play. In California, $1,200 is the minimum income. You’ll need to be able to verify this, with pay stubs, canceled checks, or some way to show the lender you have this income is stable and consistent. You’ll also have to report the mileage on your car and the odometer will be checked, and you’ll have to prove you have full coverage insurance because the lender is taking a vested financial interest in your vehicle. If the vehicle gets damaged the lender of the vehicle will want to ensure that he or she gets paid to have the vehicle restored.
While title loans are fast, they do have some other things to think about. It is recommended to get a title loan only in the case of emergencies or for short-term borrowing situations. The interest rate of the loan with a title loan is generally higher!
Here are some things you need to provide if you decide to call today
- The mileage of your vehicle that you want to get a car title loan on.
- Details of the vehicle
- What your monthly income is
- Your email address, phone #, and address