There are numerous financing options to explore if you are stranded or financially handicapped and can’t get help from friends or family. Quick borrowing apps are an option. But this is hardly the way to go if you need large sums. Thankfully, with a clear car title, you can get a title loan for more than $5,000.
There are so many title loan lenders out there these days that it’s become difficult to separate reliable lenders from scams. That’s why loan brokers exist.
Fast Title Loans is a reputable loan broker that can connect you with reliable title loan lenders in the United States. Go through this article and learn how you can benefit from getting loans with Fast Title Loans.l
What Should You Know About Fast Title Loans?
Fast Title Loans is an online loan broker connecting borrowers with trusted lenders. Lenders within their lending network are known to have high approval rates and no minimum credit score. Besides, there are no application or origination fees to apply for title loans with Fast Title Loans. You can enjoy a completely free service on this platform.
To meet the urgent needs of borrowers, Fast Title Loans has simplified the loan process. Borrowers only need to fill out a simple online form and they will do the rest.
In addition, their partner lenders make loan decisions within hours and provide funding within a short time.
There are some key differences between brokers like Fast Title Loans and direct lenders. Firstly, direct lenders provide lending services to the borrower and that means lending money to borrowers directly, while a broker has a standing relationship with many lenders who connect borrowers to lenders rather than lend money to borrowers.
Naturally, when applying with a direct lender, the applicant’s options are limited to the lender’s offerings. However, when you apply with Fast Title Loans, you are connected with multiple lenders at once. You have the chance to compare different offers before making an informed decision.
The interest rates from Fast Title Loans’s partner lenders are charged at a market average. The lenders keep the rates low and some of them do not charge any loan processing fee to keep the loans affordable.
Fast Title Loans is a popular name among bad credit borrowers for a simple reason – high approval rates. The lenders at Fast Title Loans typically approve applicants for a loan once they meet the basic eligibility requirements.
The loan request process can be completed in under three minutes. All you have to do to apply for a loan is fill out a simple form with basic information like your name, age, and some basic information about your car.
Lenders in Fast Title Loans lending network comply with the Fair Debt Collection Practices Act (FDCPA). They do not use abusive or deceptive acts to collect debts from borrowers.
Fast Title Loans provides title loans to people with poor credit because they conduct fewer credit checks. Lenders are primarily concerned with the value of your vehicle since they can repossess it if you default. So, someone with poor credit may be able to obtain a loan provided they can demonstrate they can repay it on time.
Unlike brokers who charge a fee for connecting applicants with lenders, Fast Title Loans do this at no extra cost to the applicant. It gets a commission from the lender for every successful transaction instead.
To qualify for a title loan at the website of Fast Title Loans, you must be at least 18 years old, own a vehicle, own a lien-free car title, and have a reliable source of income. You must be an American citizen or a permanent resident as well.
After meeting the requirements above it will be easy to apply through Fast Title Loans. It can be completed in three steps.
- Fill out the online request form. Provide correct answers to the basic questions asked, and submit the form once you finish. It will be forwarded to their panel of lenders. These lenders will overview your submission and approve you for a loan once you pass their evaluations.
- Each lender who approves you for a loan then sends a quote. Review the quotes from these lenders and choose the best one for you, considering all criteria like interest rates, loan terms, loan, and amounts.
- Sign the agreement with your lender. You should be funded anytime from that hour to the following 3 business days, depending on the time you applied and the bank’s deposit processing speed.
Fast Title Loans may be renowned for title loan deals, but they do more than help car owners get some loans with their car titles. You can also get the following loan products on Fast Title Loans:
Paydays are short-term loans a borrower takes against their paycheck. Fast Title Loans connects applicants to reliable lenders offering up to $5k payday loans. These lenders do not just qualify borrowers based on their credit score but also consider their capacity to pay back within the loan term.
An installment loan could be a good option if you need a long-term loan. The total cost of the installment loan is usually spread equally over the loan term, making it more convenient for the borrower to pay on schedule. Fast Title Loans connects borrowers to lenders who charge competitive interest rates on their loans and make borrower-friendly loan terms.
Personal loans are loans taken out to cater to a wide range of personal needs, including mortgage, car financing, house rent, medical expenses, etc. You can get personal loans up to $35k when you apply on Fast Title Loans. However, as compared to a title loan, the amount you are approved for may have more to do with the lender’s assessment of your creditworthiness.
USTitleLoans is another good resource for budget-friendly auto title loan deals in the United States. To apply for title loans with USTitleLoans, all you need to do is fill out its online form, which can be completed in as little as 3-5 minutes. The website is user-friendly and responsive. All data entered on the site are also safe, secure, and confidential.
TitleMax is one of the few auto title lending companies with motorcycle title loan packages. The company, founded in 1998, allows you to refinance existing title loans once you pay at least 20% of the principal. They fund applicants with loans between $2600 and $10,000 and are available in 15+ US states, including Tennessee and Arizona.
LoanMax provides applicants with car title loans up to $10,000 at competitive interest rates. The application process is straightforward. People can make their loan payments online – at no extra charges – via their new app, available on Android and iOS platforms.
No, a title loan is not a scam. But you must be careful with choosing a lender. Essentially, obtaining a title loan is like borrowing your car’s equity value. You are borrowing a percentage of your car’s value to be repaid by the agreed payment deadline. That’s why we need this overview to let people know about some great options for title loans.
Although no scam, title loans could be considered high-risk loans. You could lose your car if you fail to meet your payment obligations. However, one good part is that, unlike other secured loans, you are not obligated to leave the vehicle with the lender. You can continue driving your car while you repay your loan.
The maximum borrowable amount for a car title loan varies from state to state, but most states do not cap how much you can borrow. Depending on your car’s value, you can get as little as a hundred to several thousand dollars. Most of their lenders offer title loan applicants 30 to 50 percent of their car’s current market value.
It is very hard to obtain a title loan without the vehicle’s title. After all your title is the only thing the lender needs you to pledge in your application. But, you can always reapply for a position.