Sometimes one needs money quickly, and there may be very limited means as to how to get your hands on it. If this case may arise, one of the best and easiest means to get said cash may be a Car Title Loan. These forms of loans are low risk for both borrower and lender and allow for a low rate of interest without forcing you to put your home up as collateral. At VIP Finance in Plano, we offer a service that gives you loans based on the value of your car. This value is known in the banking and legal sectors as ‘Equity’ and it is exactly equal to the value of your Automobile once you subtract the amount of money owed on the car. So technically speaking, the equity is exactly what part of the value of the Car that you own, and not what the Bank owns.
How to Apply for a CTL with us.
While home loans are complicated and require large amounts of paperwork in order to organize, CTL’s can be organized and received very quickly and effectively. You will simply need to show and prove the value of your car, and request whatever amount of loan you may need, as long as it is equal to or less than the equity of your car. When accepted, you simply sign us over the title of the car and take the money. You can even continue driving the car while you are paying us back the loan, and once you have repaid the loan in full, we will sign back the title to you. Simple.
Even if you have a bad credit rating, you don’t have to worry about this being a problem.
In order to qualify for this specific type of loan, all you need to do is have some equity in your car. Your credit score will not be important because the value of your car will offset any risk to us as the lenders, so even if you have credit problems and are unable to receive a loan like this anywhere else, we can give you the cash you need. So if you are suffering from bad credit, this can make a CTL a much better option and opportunity for those people with a low credit rating.
How easy is it to get a CTL from us?
We’ve made this process so simple for you.
We don’t use any credit checks in order to check your feasibility, we offer interest rates that are substantially cheaper than other unsecured loans, and you can borrow a lot more than normal payday loans while getting cash into your hand a lot faster than home loans. These loans are a very quick and effective means of loaning and come with a lot less risk than pretty much any other types of personal loan, for both parties, you and us.
So if you are in need of a simple and effective form of a loan, and you have a car, then you know what to do.