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Saturday, October 16th
If you want to get a car title loan from Auto Cash USA, you'll need to make sure you have a location near you: you'll have to bring in your driver's license, lien-free vehicle title, and the vehicle itself for inspection. Assuming you have a location near you and you have all of the appropriate documentation, you could have the payment from your loan in just 30 minutes.
Only available in some states
It's hard to know upfront which states are eligible for car title loans through this service. We had to scroll through the "Locations" tab to see that Auto Cash USA only offers loans in the following states: Georgia, Alabama, South Carolina, Mississippi, Tennessee, Louisiana, Delaware, Texas, Maryland, Missouri, Illinois, Wisconsin, New Mexico, Arizona, Utah, Idaho, Nevada, California.
Horrible customer service, "F" from the BBB
When we entered our information to get a title loan in Florida, we were told that our "selected store location is over 100 miles away" and we were asked if we wanted to use a different website to get a title loan, Title and Payday Loans. This turned out to be one of nearly two dozen services all under a single banner: Community Loans of America, Inc. Why is that important? CLA has an "F" rating from the Better Business Bureau. Customers have filed nearly 100 complaints over the last three years - and those are just the ones who were able to sleuth out that CLA is behind the car title loan provider they used. These complaints described delays of a month or longer in getting titles returned after loans were paid in full, rude representatives, and cars being repossessed even though payments were being made.
Don't use this service for a car title loan
Auto Cash USA isn't available in a lot of places, and their reputation is horrible. Car title loans are tricky enough as it is, but there are companies who manage to get a great rating from the Better Business Bureau. This isn't one of them. Run, don't walk, away from Auto Cash USA and get your loan from a more trustworthy lender.
If you're considering a car title loan, chances are good that you've come across some unexpected bills. Maybe your car broke down and you need it fixed quickly to keep your job. Or your roof started to leak after a storm and you can't wait on your insurance adjuster to take months to get the claim paid. Many Americans find themselves in trouble and don't have many options for getting money fast. That's where car title loans come in.
How does this type of loan work? If you own a vehicle free and clear, you can use its title as collateral to secure a short-term loan. The good thing is, you don't have to stop using your car: continue to drive it as you usually would, until the loan is repaid in full and you get the title returned to you.
Car title loans are also attractive because they rarely require you to have a great credit history: you're guaranteeing that you'll repay the loan by borrowing against your car's value, so credit isn't really a factor. Of course, that's one of the downsides too: if you don't pay the loan back, you stand to lose your transportation, and you can't borrow more than your car is worth. That's cool if you're driving a Porsche, but if you drive a 20-year-old beater you might not get much out of a title loan.
Another thing to keep in mind is that car title loans usually have really high interest rates: in the triple digits isn't unheard of. You'd be wise to see if other, lower-interest rate personal loans are a possibility before you turn to a car title loan for your cash needs.
So, all that being said, how can you tell which car title loan provider to use? There are a lot of them out there, and some of them are less-than-reputable in the way they treat customers. Here are a couple of factors to check out before you commit to a car title loan:
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