Title Loans Yuba City, California
More than half the American workforce clocks in and out. That means they are hourly workers, which is great when there is an opportunity for overtime. What’s not great is when a worker has to take time off from work and does not have vacation days, sick time or other ways to still get paid. If the worker has an emergency fund, there’s no problem, but most people don’t. That means not getting paid for every hour of a 40 hour work week can put up a roadblock when it comes to paying bills. Title loans in Yuba City make it easy to get around a roadblock like that. Any adult who owns a car can apply, and most people are approved.
Title Loans Yuba City
Trading a car title for money is the basis of title loans in Yuba City. As long as the applicant owns a vehicle with a clear title, that person applies for a loan and gets an offer based on the value of their vehicle. Car values are based on make, model and year as well as the vehicle condition. Any damage to the car could lower its value, but any additions, such as a sunroof, could increase its value.
Title Loans Yuba City Application
First, make sure meet the title loan requirements. You need to be 18 or older, have the ability to repay the loan and have a lien-free vehicle. Second, start the Loan Cheetah application by providing the following information.Vehicle
- Zip code
- Email address
- Working phone number
This basic information is what is needed to give you a loan estimate. After you get it, we call you to discuss the loan. We need to know your source of income and the condition of your car. We discuss a final loan amount, set up the dates you will make payments and determine when and where you will claim the money.
California Legal Information
Title loan customers have the right to full disclosure under California law. Before they sign any loan agreements, the lender must provide them information about annual percentage rates, interest rates and fees the customer is liable for by getting a title loan. Lenders are allowed to charge fees related to processing, administrative costs and late payments. Interest rates are capped at 30 percent annually for title loans under $2,500. There is no interest rate limit for loans over that amount.
While traditional loans may be available for anyone to apply for, banks are not in the habit of loaning money to people with anything less than good credit. They are more selective in who they loan money. Title lenders, on the other hand, have an “everyone is welcome” policy. Title loans in Roseville and Yuba City are based on collateral, which is the borrower’s car. That piece of security is good enough to get a loan, so it doesn’t matter if the customer’s credit is good, bad or really bad. An applicant’s credit is never checked.Speed
Applications take a few minutes to complete. A phone call between a borrower and a Loan Cheetah agent is brief. In just one day or less, a typical title loan application is approved and the borrower has collected the money.Competition
Title lenders are in business to money to people who need it, but so are other lending institutions. Competition between these companies benefits the borrower when interest rates for title loans are lowered, which means the loan payback amount is lower for the customer. Most often, title loan interest rates lower than those of payday loans.