How To Get The Maximum Money From Your Title Loan
If you need cash fast and own your car, a title loan can be an option. Even if the car is financed, you can often get a title loan on the equity you have in the vehicle. You can even get a title loan with bad credit as the car acts as collateral. The value of your car determines how much you can borrow rather than your credit score. That makes a title loan different from other types of loans. But how can you get the most value from your title loan when you need money now? If you follow these steps, you can get more from your title loan.
How Much Can You Borrow For A Title Loan
Most other types of lending rely on your credit rating and your income to determine how much you can borrow. A title loan uses the value of your car as the largest factor in how much you can borrow. Typically, you can borrow anywhere from 25% to 50% of the value of your car. This includes the value of the equity you have in a car that still has financing. You can go here to check the Kelley Blue Book value of your car to get a rough idea of how much you can borrow. And if your car is still financed, a title loan is referred to as a registration loan. And the amount you can borrow is equal to the fair market value of your vehicle minus the balance of the loan. So if you owe $2,000 on a car worth $8,000, you could most likely borrow $1,500 to $3,000 for a registration loan. Assuming the lender accepts financed vehicles.
How To Get The Max Cash® For Your Title Loan
You will need some form of ID, proof of income, and your title to get approved for a title loan. At Max Cash, we work with over twenty different lenders so that you can find the best offer with just one application. You can apply in under an hour and often the funds will be available to you within one business day! So click here to begin an application and start the process. If you qualify, you can get the cash you need today!
What Other Ways Can Your Car Get You Credit?
Do you need more than just a one-time infusion of cash? Are you also looking for a way to build your credit? There is a new way to get a credit card that doesn’t rely on credit checks. The new credit card Yendo is backed by the value of your car, not your credit score. You can access up to $10,000 worth of credit on Yendo.
Pre-approval takes just minutes. After pre-approval, you’ll have to take pictures of your car and title on the Yendo app. After you physically transfer the title to one of their over 93,000 locations, you will instantly get access to your credit card. So click here to start an application with the new credit card that works off the value of your car!
