car value for money

Can You Get Fast Emergency Cash From A Car Value Loan?

You've paid off your car, and need money for an unexpected expense. This has you wondering about getting a car value loan. A car value loan, also known as a title loan, can be an option to draw off the equity in your car. 

Title loans are one of the alternative financing options available to people who need money fast. Typically, people look to fast title loans because they don't consider going to a bank as a good option. Keep reading to learn more about this loan versus a traditional bank loan.

emergency cash car value loan

Title Loans Vs. Bank Loans

There are three primary reasons why using a car value loan has some advantages over getting a personal loan from a bank. The primary reason is that fast title loans are available to more people than bank loans. 

Banks are getting stricter about loan requirements and those with lower credit scores won't get approved. They can, however, apply for title loans, which gives them a better chance of approval for customers because private lenders look primarily at the value of your vehicle rather than a credit score. 

The title of your vehicle is used as collateral to secure the loan, which enables many people with bad credit to be approved, although approval isn't guaranteed. A car value loan typically involves less stress in applying and getting approved than dealing with a bank loan. The paperwork is simpler and faster than when dealing with a bank, too.

Another reason why title loans are advantageous over bank loans is the amount of money you can borrow. Since you are using the value of your car as a basis for the loan you may get a larger amount than what a bank would give. That's because banks look primarily at your credit history to make that determination.

Another reason why people will look to title loans over bank loans is that a car value loan gets you money faster. The application process can take as little as a half hour to complete and you can have cash by the end of the next business day, depending on the private lender. 

Title loans are used as a short-term financing option where you have an expense that can't wait. Since you can get thousands out of the value of your vehicle's equity in a loan, depending on the vehicle, it can be a solution for a larger expense, like replacing a water heater or a roof repair.

Choosing A Lender

Many private car value loan lenders exist and one of the most reputable in Delaware is us at Delaware Title Loans, Inc. to help you get your title loan. We offer both title loans and signature installment loans. The range of title loan amounts is between $300 and $15,000. 

You keep your car during the repayment period and applying is a simple process. You will need proof of identity like a driver's license or state-issued ID. The other two things applicants need are a clean title to the vehicle and the vehicle in their possession. 

Applying For A Car Value Loan

You can walk into any of our Delaware Title Loans, Inc. stores and ask about applying. Stores are located all over the state and there's a handy map on our website to help you find the location nearest to you. 

However, an easy way to get started on an application is to fill out an online inquiry form found on our website. That way you can remain in the comfort of your home and get a loan representative to call you after you submit the form.

The representative will ask about your required items to ensure you qualify and also talk to you about your needs. The representative will also answer all your questions. They will make an appointment for you to meet with someone to fill out a formal application. 

Meetings with our Delaware Title Loans, Inc. loan representatives about a car value loan are more convenient today because you don't have to go to a store. You can choose to have the representative come to you at a location you choose. Just be sure to have all your required documents and the vehicle with you at the meeting. 

The representative will do a vehicle inspection and guide you through the simple paperwork. If you are approved, you agree to the terms, and sign the papers, the cash will be made available to you either the same day or on the next business day. 

Those with bad credit can still apply for a car value loan with this private lender. It works with people of all types of credit. Talk to the loan representative about any concerns regarding your credit. 

emergency cash for car value loan

Fill Out The Online Form

The online inquiry form isn't an application so it will not result in a credit check or affect your credit score. It's a way to get information about a car value loan that you can use to pay for an emergency. Fill out the form today and see if we at Delaware Title Loans, Inc. can help you get the money you need today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.