Title loans are a type of secured loans where the lender uses the title on their car as collateral to obtain a loan. When you apply for title loans, you do not have to undergo credit checks as having a bad credit does not matter to your lender. The lenders are more concerned with the value of your car rather than what your credit history says.
Types of Title Loans
The following are some of the vehicle types that can be used to obtain a title loan in Salt Lake City;
• Cars: Cars are also referred to as automobile and they are the most common type of cars that most lenders use in getting title loans. Titles of all type of cars can be used as collateral to obtain a title loan.
• Trucks: Trucks are another type of vehicles that is accepted by lenders which makes the title of a truck valid as a collateral in getting a title loan. These trucks come in different sizes and types, they are used for transporting equipment, supplies, and other cargo. The same processes involved in getting a car title loan is also applicable in getting a truck title loan.
• Motorcycles: lenders also consider people who own motorcycles and are in need of quick cash. They can use the title of their motorcycle to obtain a motorcycle title loan.
• Recreation Vehicles (RVs): RVs are large vehicles with cabins and are meant to be used as living spaces. The title of RVs can also be used to secure a RV title loan.
• Sport Utility Vehicle: An SUV is a large automobile designed for use on off-road and city streets. The title of a SUV can also be used to obtain title loans from lenders.
What about Car title loan Salt Lake City?
With title loans you can get loan with reasonable interest rate so that you can still keep up with your other financial obligations while you repay the loan. If you live around Salt Lake City and its environs and you are in need of a quick cash or a same day title loan, a car title loan can be of great help in getting the money you need. You can get as much as $200 to $20,000 when you apply for same day title loan in Salt Lake City. You will get your check as soon as your loan application is approved.
Why choose car title loans?
• You can easily complete your application online to get a same day title loan in Salt Lake City and get approved in a few minutes.
• Banks do not offer the several benefits lenders who offer same day title loan offers. Besides, you will even find it difficult to get a bank who offer same day title loans.
• You can negotiate your repayment terms with your lender so that you are comfortable while you pay off the loan.
• The whole process is fast, simple, and straightforward.
• You don’t need to wait in line to apply. You can apply right from the comfort of your home and get the money you need same day.
Will I have to leave my car with the Lender if I get a car title loan?
No!! your lender should not impound your car after getting a same day title loan in Salt Lake City. However, it is advisable that you should establish this fact before proceeding with your loan application so that you are not shortchanged. The lender is only expected to place a lien on your title which will be removed and returned to you after you have completely paid off the loan.
When you apply for title loans Salt Lake City, you will be required to have the following documents and information handy;
• Your Name
• Date of birth to ascertain that you are above 18 years
• Email address
• Primary Telephone number
• VIN Number
• Other income sources
• Gross monthly Income
• Employment status
• Name of employer and work telephone number for employed applicants