FAQ

Here are some of the answers to the questions most frequently asked. If you still have questions, don’t hesitate to call us.

What are car title loans?

A car title loan is a type of online person loan that depends on how much your car is worth and if you can pay. The loan is secured by putting the name of the lender on your car title. With a lien against the car, you can still drive it while you make your monthly payments. When the money has been repaid, your car title is returned to you. This is not like a car pawn loan, where you would need to leave your car with the shop.

How can I understand how auto collateral loans, car title loans, auto equity loans, automobile title loans and pink slip loans differ?

Although these loans are all the same type, there are several additional names for auto title loans. Your loan agent can help you choose the best loan solution for your situation. They include the following types of loans:

  • Title loans with bad credit
  • Cash for car title loans
  • Auto collateral loans
  • Pink slip loans
  • Automobile title loans
  • Auto title loans
  • Car equity loans
  • Title loans
  • Auto equity loans

Why are auto title loans better than traditional loans?

If you need money quickly, car title loans are by far the best option. They are processed very quickly and there are fewer requirements. You will spend less time applying for the loan and you don’t have to sit around a loan office wasting precious time. My City Title Loans understand that their customers are looking for loans to cover emergency situations and prepare the money as quickly as possible.

Can I apply for an auto title loan if I am currently unemployed?

As long as you are able to manage the monthly payments, you can qualify for a car title loan even if you don’t have a job. If you have a steady income stream, such as social security, disability payments, income from self employment or even retirement, you can qualify for car equity loans. Another level of security is by having someone co-sign for you. Call us now for any other questions regarding how we determine your ability to pay.

Can you explain to me what equity is and how it can help me with a title loan?

Equity is the amount of money that can be used as loan security for car equity loans. It is based on how much your car is worth in today’s market minus whatever car payments you might still have. By using a percentage of the vehicle’s value as collateral, as well as other credit criteria, title loans can be approved.

Do I have to pay off my car first?

Your car does not always have to be completely paid off. If you only have a few payments left on your contract with a credit union, car dealer or the bank, you might still be approved for a loan. It is sometimes possible to get approval even if you have a loan from a different car title loan company.

Can I get a car title loan with bad credit?

Even bad credit applicants can be approved for car collateral loans. Since many people go through rough periods with their finances, it is only natural that you would get a bad credit status. You can still be approved for a title loan because they depend mostly on your car’s value, your ability to pay and meeting basic credit criteria. Call a customer service agent for more details on getting a bad credit loan.

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Installment Loans Are Simple to Request

The fastest way to apply for installment loans is by sending in an online loan application form. If you need help with the form, you can call our office and one of our clerks will take you through the required steps. There are several locations in California to choose from.

mycitytitleloans.com (the “Website”) is not a lender or lending partner. It does not make loans of any type, and does not make any credit decisions. The Website collects personal information provided by you and share it with its network of lenders as well as marketing partners. Providing your information on the website does not guarantee you will be approved for a loan or credit product. This service and lenders are not available in all states. In some cases, you may be connected with a tribal lender.

Tribal lenders are subject to tribal and certain federal laws only while other lenders are also subject to state law including usury caps. By submitting your application, you acknowledge, agree, and authorize that (a) your information may be shared with third-party marketing partners and lenders in our network, and (b) such lenders may obtain consumer reports and related information about you from one or more consumer reporting agencies, such as TransUnion, Experian and Equifax to evaluate your creditworthiness. If you have any questions about your loan, please contact your lender directly.

(1) Loan approval is subject to meeting the lender’s credit criteria, which may include providing acceptable property as collateral. Actual loan amount, term and Annual Percentage Rate of the loan that a consumer qualifies for may vary by consumer. Loan proceeds are intended primarily for personal, family and household purposes. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.

(2) Form Inquiry processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing.

(*) Lenders recommend and encourage consumers to pay early in order to avoid additional finance charges.

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