Are You a Car Owner?
If you own a vehicle that is less than 15 years old and is in good condition, you can qualify for a car title loan. At Embassy Loans, you must fill out an application, either in person or online, to begin the process. You will be required to provide some forms of documentation as well as the title to the vehicle.
The Loan Processing
Once you submit all of your documentation, your vehicle will be assessed for its value. Most lenders use typical blue book values. Once complete, your loan agreement can be drawn up. You will be able to borrow up to 50 percent of the value of your vehicle. Lenders will not permit you to borrow more. If you fail to repay the loan, the lender will take possession of the vehicle and then sell it to recover any losses.
Why a Car Title Loan
If you have a poor credit history, you will not have many options when it comes to borrowing money. A personal loan at your bank or credit union will require almost perfect credit to be approved. A car title loan is not based on a person having a good credit history. The loan is secured by the vehicle. That means, of course, that should you not repay the loan for any reason, the lender can take possession of your car or truck.
Car title loans offer fast processing. Since there is no need to check credit histories, there is a lot less paperwork. As a result, a car title loan can be completed in much less time than a traditional loan. At Embassy Loans, for example, the typical loan can be processed, and a borrower can have access to his or her money within an hour.
Even if your trip to Super Bowl 50 is a last-minute thing, you can still pull it off. Once you have received your money, you are free to do what you wish. It would be best if you did not make going to the Super Bowl a last-minute decision since tickets are often hard to find.