There inevitably comes a time when cash runs out and you find yourself scrambling to find extra cash to get through the month. It’s this type of situation where can really save the day if you have nowhere else to borrow the money you need. Wondering how title loans work? They’re pretty simple actually. Here’s the run down:
The first step to taking out a title loan is as simple as filling out a simple online request form to let your lender know your basic information, borrowing needs and type of vehicle you own. During regular business, you can expect a store representative to contact you by phone within minutes.
After this brief conversation, you’ll be ready to head to your local title loan store. Be sure to bring your driver’s license or valid state-issued ID, your vehicle and a lien-free title in your name. There are store locations conveniently located throughout Virginia, so more than likely you are only minutes away.
When you arrive, you’ll be greeted by the staff and the approval process will begin. First, your vehicle will undergo a quick inspection to establish the top amount you could receive. After the inspection, you’ll be presented with an offer and the paperwork with all the terms and conditions of your title loan.
After asking any questions you have and thoroughly reviewing the agreement, you simply sign on the dotted line. Title loans are secured with your vehicle title, which is safely stored on-site until you have repaid your loan.
After you sign your paperwork, you get the cash you need right then and there. You also get to keep and drive your vehicle the entire time you’re making your payments. That means getting emergency cash you need won’t interrupt your daily routine or interfere with you getting where you need to be.
Simple, right? If you’re strapped for cash and don’t have the time, credit score, or patience to deal with the bank, title loans could put the extra cash you need in your hands today. The requirements are minimal, any credit is welcome and you keep and drive your car while repaying.