Title Loans Glendale, California
Car title loans have become the easiest way of getting funding during emergencies. Title loans Glendale are preferred by clients who wish to avoid the complexities of borrowing money from commercial banks. Debt-free cars and motorcycles act as collateral. Those who apply for car title loans have to surrender the log books of their cars to lending institutions, albeit temporarily.
Loan Cheetah is a financial institution that offers title loans Glendale. Our loan terms are flexible, which means the repayments won’t be burdensome to you. Unlike mainstream commercial banks, we do not factor in the credit score of our clients when allocating loans. Our interest rates are comparatively low. What’s more, we can offer you as little as 100 dollars.
How to Apply for Title Loans Glendale
You can now apply for an auto title loan online. For you to secure a loan, you need to log into our website to fill out an application form. In this regard, ensure that you have all the necessary government-issued identification documents. You should also produce documents that show you have a steady income. The car that you intend to use as surety should similarly be lien-free. It should equally be insured and registered with relevant agencies.
After providing Loan Cheetah with this information, our assessors will undertake a car title loan estimate to establish the loan amount that you qualify for. The amount that you are eligible to receive depends on the condition of your car. We offer more than half your car’s resale value. However, this is subject to the age, and condition of the car. Your ability to pay is also factored in.
Legal Regulations About Title Loans in California
The State of California introduced stringent legislation to regulate the car title loan industry. These regulations protect borrowers from rogue lenders. Besides this, the regulations protect lending institutions from dishonest borrowers. The state does not limit the amount of interest that lenders can charge. Nevertheless, loans under 2,500 dollars should not bear an interest exceeding 30 percent. Loans that exceed 2,500 dollars do not have an interest rate limit. Besides this, lenders such as Loan Cheetah cannot compound interest rates on loans below 5,000 dollars.
California allows lenders to charge administrative and processing fees. This may either be 5 percent of the loan, or 50 dollars, whichever is less. This applies to loans below 2,500 dollars. Loans of between 2,500 dollars and 4,999 dollars attract an administrative fee of 75 dollars. Loans of over 5,000 dollars bear no interest rate caps. If you fail to make full payment within the agreed period, the lender can surcharge you 10 dollars for the first ten days and thereafter, 15 dollars for subsequent delays.
Borrowers have the right to be made aware of any extra fees that their pink slip loans may accrue before signing the credit contract. You need to inquire whether there are any hidden charges before you apply for a car title loan California. Defaulting on your loan can lead to repossession of your car by a lender. Under California laws, lenders have the right to repossess your car if you fail to make repayments on time. However, they must serve you with a notice at least ten days before the intended date of repossession.
Benefits of car Title Loans
Title loans Glendale offer borrowers numerous advantages. Processing time may be as little as 15 minutes, meaning that you will have money as soon as a need comes up. Online loan application similarly helps you avoid long and tedious queues, which are common when clients seek loans from mainstream banks. Besides this, you can qualify for a loan regardless of the credit score that you have. You only need to own a duly registered car.