Auto Title Loans
Getting a significant amount to cover your personal needs may be tough if you have bad credit. At Diversified Credit Union, we have a solution that can help bad credit members get money fast and without all the hassles of traditional personal loans. Apply for auto and RV title loans and get the fast cash you can use for any needs!
How Do Auto Title Loans Work?
Title loans for cars, also known as title pawns and title pledges, are secured loans that allow you to get whatever amount you need by using your auto as collateral. However, actual loan amounts may vary depending on the estimated cost of your vehicle. Typically, you can get from 20% to 50% of your car value. You can get a title loan to cover any needs you may face, whether you need to pay bills, consolidate debt, or cover your credit card cash advance payments.
The loan term for a car title loan is typically short. You should repay the loan proceeds plus interest rates and fees within 15 to 30 days. Thus, car title loans may be a good alternative to expensive payday loans. Like all short-term cash advances, loans for car title need to be repaid all at once on the due date. These loans may also come with high fees and high interest rates, so you should check your loan agreement before signing and choose a trusted loan company to avoid unpleasant surprises.
Remember that federal law requires lenders to be honest about your loan total cost, so read the loan agreement carefully before signing. At Diversified CU, we offer competitive rates and amazing customer service to become your #1 lending experience.
Car Title Loan Overview
Minimum loan amount: about 20% of your car value.
Maximum loan amount: about 50% of your vehicle’s estimated price.
Loan terms: 15 to 30 days.
Interest rate: 5.99% to 27%.
Additional fees: about 25%.
How Much Cash Can I Get?
The exact amount you will get depends on your income, credit score, and your car estimated value. Once you decide to borrow money from Diversified CU, you’re welcome to pre-qualify for a new loan without any impact on your credit history to find out how much money we can offer you today.
Can I Get a Loan With Car Title If I Have Bad Credit?
You’re welcome to apply for short-term loans with any credit. Car titles are bad credit friendly as they have collateral backing. Thus, banks, credit unions, and other lenders usually don’t have any minimum credit score requirement when it comes to a title loan. However, you should be careful as you risk losing your vehicle if you won’t make your first payment on time.
Car Title Loans Basic Qualifications
- Be an owner of a car or RV;
- Be an adult member of Diversified CU;
- Have a valid government-issued photo ID;
- Prove your gross monthly income is enough to repay the loan on time;
- Have an active bank account;
- Provide us with some basic information, including your permanent address, telephone number, and email.
Note: You may also be required to have a roadside service plan, but take note that a licensed lender is prohibited from selling you any insurance coverage.
Where Can I Get Auto Title Loans Near Me?
You can find many loan providers that offer car title loans in the area. Compare several lenders and choose the one with low interest, flexible terms, and simple requirements. Diversified CU is always here to offer you the best of what the lending industry has.
How to Apply for a Car Title Loan With Diversified CU?
Diversified CU offers a simple online application process and quick approval for quick cash loans. Follow these steps to get cash quickly:
- Fill out a loan application form and provide us with a clear title. After we review your application details and inspect your car, we will send you a loan decision.
- Sign a loan agreement. If approved, you will get a loan offer. Read your loan documents carefully and sign them if the conditions suit you.
- Receive cash fast. We will deposit money to your account as soon as the next business day or by the end of the same day.
© 2022 Diversified Credit Union. All Rights Reserved. NMLS #674056
Diversified’s Routing number is 291074748