Where Can I Get Title Loans that Don't Require the Car
There are different lending sources that offer title loans that don't require the car. However, these sources put up strict or stringent eligibility criteria, thereby preventing those that cannot meet up with the requirements from accessing the loan. The two sources that we have identified that can offer you title loans that don't require the car include;
Title loan lenders
With the advent of the internet, it has now become very easy to access title loans that don't require the car from the comfort of our homes and offices. Title loan lenders are accessible online via the use of a smartphone or a PC. They are designed to help those in need of instant cash to pay off upcoming bills using the value of their car.
So, if you have a valuable car, you can count on it to take out a loan. Use a title loan calculator to estimate the total amount you can take, the interest rate, and the repayment duration. The biggest advantage of taking out a title loan that doesn't require the car through an online lender is that the process is simple and straightforward. It also comes with instant approval, provided you satisfy all the requirements as stipulated by the title loan lender.
Banks or traditional lenders are other great sources that you can approach to take out a title loan that doesn't require the car. However, the biggest disadvantage of applying for this type of short-term loan is that it takes so much time for the bank to verify your income status and the value of your car on the automobile market. You may also have to submit a few documents and your credit score so that the bank can verify whether or not you will be able to repay the loan as at when due. Banks also charge a high-interest rate compared to what a title loan lender takes.
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How to Get a Title Loan Without Showing the Car
For those looking to apply for a title loan without showing the car, the process is simple and straightforward. First, you must satisfy the following eligibility criteria:
- Be at least 18 years old before applying for the loan.
- Have a verifiable source of income.
- Posses a valuable car with valid title documents.
- Have a valid means of identification (Social Security Number and driver's license)
- Have a valid phone number or email address for smooth communication.
- Have a checking account with any bank in the US.
Secondly, you will need to take a clear picture of your vehicle and forward it to the lender we will link you with. Make sure the photos are clear enough and also include the vehicle identification number.
We would like to emphasize that the amount you can take out depends on your vehicle appraisal. While you complete the application process, we will perform a quick appraisal of the vehicle you intend to use. We will then link you with a title loan lender that will offer you the loan with competitive interest rates. Once the lender approves your loan application, you will submit the title of the vehicle to receive the funds in your account.
While your vehicle title paper is in the custody of the lender you will continue to use the vehicle even as you make your monthly repayment. After making 100% full payment including the interest, your vehicle title will then be returned to you.
Reasons to Get a Title Loan Without Showing the Car
There are so many reason one may want to get a title loan without showing the car, including:
One of the reasons to get title loans without showing the car is for the payment of medical emergency bills. Life happens and nobody prays to fall sick. When you fall sick and you're short on cash, you can reach out to a title loan lender for quick loans.
You can take out a title loan without showing the car to finance the cause of traveling abroad on vacation. You can use the funds to pay for your flight ticket and also secure a perfect hotel accommodation.
If your apartment is quickly dilapidating, you can renovate the house with the funds you get from a title loan without showing the car. Whether it's a leaky faucet or roof, a title loan without showing the car can be a great option to fix your home.
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Benefits of Getting a Car Title Loan Without Showing the Car
A car title loan without showing the car comes with a long list of benefits, including the following:
You Remain in Control
One of the biggest advantages when you take out a car title loan without showing the car is that you are in charge of how you use the money. In other words no lender will ask you or specify what you are going to spend the money on. Even while your vehicle title is with the lender, you remain in control of your vehicle.
Unlike in a payday loan or personal loans, where borrowers are expected to deposit collateral, you will enjoy lower rates and a flexible repayment schedule while your vehicle is still in your custody. You can even use the car title loan calculator on our site to calculate the potential interest rate that you will pay on a title loan you intend to take.
The process is transparent
The lending process is highly transparent. There are no hidden or sundry charges. Every charge that the title loan lender will take will be clearly spelt out in the loan contract before you sign the dotted lines.
How Much Do Title Loans Without the Car Cost?
The costs of a title loan without the car largely depend on your chosen lender. Since lenders are different, each set their fees, interest rates, and repayment duration. So, to know what it would cost you to take out a title loan without the car, we suggest you read through your lender's prospect to get the information. Alternatively, you can use the car title loan calculator here on our site to calculate the cost of taking out a title loan without showing the car.