Title Loans Corona, California
Do You Need to Know Title Loans Corona Info?
If you watch television or listen to the news, you probably hear ads for title loans almost every day. Before you jump to Google and search for “title loans near me,” find out absolutely everything you need to know about a title loan upfront. Loans typically fall into one of two categories. An unsecured loan is a loan that you take out that does not have any type of collateral attached to the loan. Creditors that offer unsecured lines of credit use your credit score to determine if you are a good or bad risk and whether you will pay off your debt. Secured lines of credit are those that use some form of collateral as proof that you will pay off the money you borrowed. A pink slip loan, which uses your vehicle as collateral, is a type of secured line of credit or secured loan.
Many people worry about working with title loans Corona companies because they assume that those companies will immediately come after them and take their cars after they default on their loans. While lenders do have the legal right to take your car, most will work with you and help you catch up on your payments. Those lenders will usually get more out of your monthly payments than they would from selling your car.
How Can Title Loans Corona Applicants Apply?
Loan Cheetah is one of the only title loan companies operating in California that has its own website. The company understands that you have work, school and person or family commitments that may keep you from talking with a representative in a local office. Its online system shows you the requirements you must meet, how you can apply and even how to start the application process. California lenders cannot loan to anyone under the legal age of 18, and this company also requires that you have a job or an income source, that you can verify your identify and that you can provide references. You'll also need a car that you own outright. Though the company does not do a background check or a credit check, you will need to either meet or speak with a rep to sign the documents and to get your money.
Laws on Title Loans in California
California doesn't have nearly as many title loan laws as other states do. Most of its laws serve to protect both borrowers and lenders. A company that offers a loan against a vehicle must explain all charges and fees upfront and in any documents that the borrower signs or takes home. Though the state does limit interest rates to 30% on loans of $2,500 or less, it gives lenders more freedom over the rates they charge for larger loans.
Benefits to Your Title Loan
Title loans Corona consumers take out these loans for a wide range of reasons. Some need just a little extra cash after losing their jobs or seeing their hours cut, and others need cash because they had a medical emergency that keeps them from working. Loan Cheetah does not base your loan on your reasons for applying or on your credit score. Anyone can experience issues that causes a drop in his or her credit score. Title loans in Riverside give you cold hard cash that you can use for anything you have in mind. Once you pay off that loan, you can walk away free and clear. For title loans Corona residents can apply and complete the pre-approval process online to get a loan within the next few days.