The 4 Best Car Title Loan Providers
Who Offers the Best Car Title Loans?
Car title loans help millions of people to quickly access cash in times of need. In today's economy, not everyone is fortunate enough to have money in savings or a generous friend or relative from whom to borrow. When unexpected bills arise, such as an expensive car repair or visit to the emergency room, it can be challenging to find the funds to pay them. Car title loans use your vehicle's title as collateral for a short-term loan, while still allowing you full use of the car for all of your everyday needs. When you repay the loan, the title is returned to you, hassle-free.
Why do some people choose car title loans over other ways to borrow money? First, most car title loans are available to customers who don't have high credit scores. Also, the amount of an car title loan is based on the value of the vehicle, so some car owners can get more money than with other types of loans, if they have a car that's worth more.
Sunday, January 24th
2021 Car Title Loan Provider Reviews
Max Cash Title Loans
Max Cash Title Loans is a referral service that helps customers find car title loans with licensed lenders/brokers. They enjoy a solid reputation and the ability to deliver funds in as little as one business day. Max Cash can help borrowers in every state except New York, and they are our top pick for car title loans.
Loan Mart
LoanMart has a respectable "A" rating with the Better Business Bureau as an auto title lender, and a website that provides a good deal of information consumers should know when getting an car title loan. However, LoanMart currently only serves customers in the states of CA, AZ, NM, UT, MO, IL, AL, SD, and WI.
Auto Cash USA
Auto Cash USA offers title loans through a network of licensed vendors throughout the United States and Puerto Rico. Their loan process is less convenient than others, requiring you to deliver documents and bring your vehicle to one of those vendors for inspection prior to approval. Their interest rates are also extremely high. But, an A+ rating with the Better Business Bureau makes Auto Cash USA worth considering.
1 800 Car Title
In business since 2001, 1 800 Car Title has helped hundreds of thousands of customers to get fast cash through their car title loans. They are fully licensed or registered, and in good standing, in every state in which they lend. However, their C- rating with the Better Business Bureau, along with a hefty fine issued by the CFPB for illegal debt collection tactics, raise concerns with using their car title loan service.
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However, car title loans have some disadvantages that you should consider. The main caveat is that if you do not repay the loan, you will lose your car as the lender will effectively be the new owner. This can jeopardize your ability to get to work, school, or other important destinations. Equally disadvantageous are the high interest rates charged by most car title lenders. Obviously, car title loans are a last-resort way to borrow money, given the high fees and the risk of losing your vehicle.
Still, being able to get the cash you need to pay overdue bills or for other pressing needs is important. When evaluating different car title loans, make sure to keep in mind the following:
- Loan Amount. How much money do you need? A variety of loan amounts are offered by different lenders, and most have a minimum amount that you'll need to borrow.
- Service Fees and Interest Rates. Will you be charged anything for processing the loan? What are the interest rates typically charged by the lender?
- Convenience. Is the application process 100% online, or will you need to fax in any required documents? How quickly will the funds be transferred to your account?
TopConsumerReviews.com has reviewed and ranked the best Car Title loans available today. We hope these reviews help you find the right title loan for your short-term financial needs!
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