Required Documents to Apply for California Title Loan

Title loans have various requirements depending on the state one lives in and the title loan company you’re applying to. The overall title loan process will also vary too. With California title loan companies such as True Financial, the process for getting a title loan is very straightforward. Applicants can bring a handful of required documents with them and fill out a simple application to determine if they are eligible for a loan. Please check with a lender near you to determine exactly the documents that are required in your state. 

These documents can include:

1.    A free and clear title (nothing owed on the vehicle)

2.    The vehicle being used for collateral

3.    A government-issued ID

4.    Current vehicle registration

5.    Current auto insurance coverage proof

6.    Proof of current monthly income

A loan officer will review all this information. Next, an appraisal process occurs where the title loan company determines the value of the car and offers a specific amount of money for the loan (typically 50-60%). This appraisal is done looking at the book value of the vehicle as well as referencing the current condition that your vehicle is in. You may need to provide supporting images or photographs or take the vehicle in to the loan company. While a free and clear title is recommended, some title loan companies will use a salvage title. This is when someone may have come into bad luck where the vehicle is damaged significantly and they can’t afford to pay to fix it, but the vehicle can be fixed to be worth a lot more than its current monetary value. For many this vehicle is the ticket to the fast cash that they need at that moment. Retain the use of the vehicle during the duration of the title loan if they continue to make regular payments on this short-term loan in California.

With a title loan, the cash that someone needs are given quickly. In California, an applicant for this type of loan must be at least 18 years of age. A credit card is often required with this loan process, but it isn’t always required. This will depend on the title loan company you use, so check ahead of time if this is an issue for you.

Title loans are fast, easy and most of all, convenient. This loan type is funded under an hour typically. We at True Financial can make the process of getting a title loan very simple. They are meant to be short term and for individuals in need of quick and fast cash. Just hand over your vehicle’s title and get your cash after a short application process. We will keep the title until the last loan payment is made. It’s that easy!

If you would like to find a company who is able to help you when you are looking to refinance a title loan, you will need to also provide the balance of what you owe with your previous lender. This can be obtained by making a call to your current lender and finding out exactly how much you owe. Alternatively, that information is also found on a current loan statement for your existing loan. Full coverage auto insurance is required on the vehicle that is being used as collateral with a title loan. This is because if an accident happens that the value of the car can still be obtained so that we, the title loan company, do not lose money on the title loan itself. The overall loan process goes quickly. We can get you the cash you need quickly and all while you still can use your car. Even older vehicles qualify so the age of your vehicle is not so much a factor.Talk about a convenient situation!

Title loan companies in California such as True Financial provide easy loans to consumers when they need it the most. Most loans offer a minimum of $2,500 in payouts and up to $25,000 total in the state of California. This money is given on the same day that someone applies for the loan. Unlock the value in your vehicle today with a title loan. Get out of debt now! Bring your required documents to professional California title loan company such as True Financial today! We are ready and willing to process a loan application for anyone 18 years of age and older with a free and clear title.