Which Car Title Loan Lender is Right for You?

Recently there have been a lot of new and upcoming title loan lenders that have started. The competition is becoming more fierce and with companies offering different repayment plans, more flexible terms, and added options on how long you have to repay. Car title loans have become an alternative to traditional bank loans in many cases.

As a borrower since you have the upper hand when you are able to use the equity in your car. This is also true because the ease of the application, and how quickly you can get money. Many car title loan companies will compete for your business. So, it is important to know if you are working with a reputable lender.

Here are a few ways to know if you are working with a good lender.

The lender has a strong On-line presence: 

In today’s environment it is very easy to throw up a website in an hour and then start trying to generate business. The key is to find a company that has been established. Fortunately, Big Car Title Loans of California has been in business for years, having helped hundreds of people get an auto title loan. Also, you should look at the bottom of the screen to see if the website you are working with is licensed. For example, the lending license of Big Car Title Loan is located at the bottom of the website. This means that the company has passed an extensive test and is licensed to do business and work with reputable lenders. The California department of business oversight is the legal entity that regulates auto title loans in California.

They do not become hostile if you ask questions:

As the consumer you should be able to ask what questions you need to feel comfortable. If you get a high-pressure sales pitch, then it makes sense to move on. However, you need to understand that any car title loan company is going to ask for some basic information. This information includes your name, level of income, the make and model of car along with mileage, and a few other details.

The Best Car Title Loan Companies in California Will Explain Your Options:

You need to make sure that, whatever your decision is, the company you call will take the time to explain your options. The lender should take the time to talk to various options for loan amounts. The loan amount will come down to several factors. One of the main factors it will come down to is the make, model, and mileage of your car, but most important the size of the title loan you get will come down to how much equity you have in your car.  The Best car title loan companies in California will also explain how the repayment process works. They won’t try to confuse you or give you high pressure sales tactics.

Expectations are set up front

You know you will have found the right On-line car title loan lender if the process has been spelled out clearly for you. You don’t necessarily need a high credit score or a perfect credit score when you get an auto title loan. It is important to realize that you are using your vehicle as collateral so that the lender is protected in case you do not pay your payment. This is very similar to a home equity line of credit or a mortgage. You are responsible for making payments on time, and if you do not make payments on time a lender will repossess your car. You should know ahead of time if you can afford the monthly payments.
Not all car title loan companies are created equally. Some are easier to work with. It pays to take time to make sure that the company has been around for a few years, that the company is licensed to do business in California (and any other states) and that the auto title loan company explains how car title loans work.  IF you follow these steps you should not have a problem.

Get a Title Loan at Big Car Title Loans Los Angeles

If you are in need of money quickly go ahead and give us a call at (818) 217-8960

and a friendly agent will speak to you and walk you through the process on what you need to do. Rest assured, you will not find the process pushy and you will not obligated to take a loan with us.