What You Need to Know About Auto Title Loans

a woman signing a contractWhether an unexpected bill comes up or you need funds for an emergency medical treatment, there will be times when you will need quick cash.

Car title loans in Provo are one way of securing cash without a lengthy processing time and strict approval. Utah Money Center explains that it’s a short-term loan where you pledge your car as collateral and give its title to the creditor until the debt is repaid. Here are some reasons applying for it is a quick way to get the money you need:

Easy Process

Perhaps the most appealing thing about this type of loan is its convenience. The process is quick and easy, and you can walk away with your cash in just minutes. Simply fill out an application form, give the necessary identification and other documents, and receive your money.

No Credit Checks

When it comes to auto title loans, your credit doesn’t matter. Title loans are typically only based on the collateral, which in this case is your vehicle. Even if you don’t have a polished credit history, you’d still get approval from lenders since they only look at the property you currently own.

Straightforward Qualification

If you have a steady income and own any type of vehicle — be it an SUV, a motorcycle, or a truck, you can qualify for this type of loan. The application is simple and straightforward as long as you have these two requirements.

You Can Still Drive Your Car

There’s no need to worry about getting around because you can still use your car. The only thing that you’re temporarily giving up is the title, but once you’ve made the final payments, it will be returned to you.

If you’re in a tight position and can’t find other quick ways to get the funds you seriously need, consider applying for an auto title loan. It’s a quick, easy, and convenient way of getting cash to pay off your emergency expenses.