signs of a good auto lending co

The Signs Of A Good Auto Title Lending Company

Unfortunately, auto title lending companies weren't all created equally — some are reputable, while others are not. By ensuring they have simple criteria, easy processes, a fantastic online reputation, and relevant state licenses; you'll only borrow from those worth their salt.

In this article, we'll explore the top six signs of a great title loan lender.

How You Know It's A Good Auto Title Lending Company

1. Clear Terms And Conditions

Terms and conditions are important, especially when money is involved. Therefore, you need to ensure the lender's T&Cs are displayed prominently, and the fine print is kept to a minimum. That way, you can make educated decisions about whether you want to borrow money from the company.

2. Great Online Reputation

Lenders will post rave reviews on their own websites. After all, they're trying to sell their auto title lending company to potential borrowers.

But always take these reviews with a pinch of salt. Do your research by looking at reviews about the lender posted on third-party sites. People are always willing to share dreadful encounters. Therefore, you'll quickly discover whether anything is awry.

3. Simple-to-Meet Criteria

A good auto title lending company doesn't require mountains of documents. After all, they're supposed to provide emergency funding.

With Delaware Title Loans, Inc., you just need three things to qualify (and perfect credit isn't one of them):

  • State-issued photographic ID — Typically, our customers use their driver's license to satisfy this requirement. However, you can pick from any of the following photo ID types:
    • A United States of America passport card
    • A United States of America passport
    • A United States of America military-dependent ID card
    • A United States of America military ID card
    • A United States of America student ID card
  • Lien-free vehicle title — Otherwise known as a "clear" or "clean" car title, we use this to prove you have zero outstanding judgments or liens against your vehicle. Our auto lending company can't offer a loan without a lien-free title.
  • Vehicle — Your vehicle determines the amount of money you qualify for (between $300 and $15,000). To avoid disappointment, it might be worth considering the factors contributing to the value of your car, truck, or van. These are as follows:
    • Odometer reading — Usually, the higher the mileage, the less it's worth.
    • Make and model — Luxury makes are always worth more than run-of-the-mill cars. For example, a 2016 BMW is likely worth more than a 2016 Toyota.
    • Age — Cars lose value the moment they drive off the forecourt. So, the older your vehicle, the less it's worth (although the depreciation curve begins leveling out after five years).
    • Modifications — Spoilers and decals often lower the value. But installing a brand-new engine in an older model may increase it.
    • Condition — We consider the mechanical and cosmetic conditions.

4. Keep Your Vehicle

The best auto title lenders allow you to keep your vehicle while you repay the loan. Others may ask you to keep it in a locked garage or transfer ownership for the loan's duration, but we understand you need your car, truck, or van to survive. So, you continue to use it as much or as little as you need while repaying the loan.

guy in car

5. State Licenses And Permits

Without licenses, the lender isn't permitted to operate in your state. We hold the relevant Delaware licenses and permits, allowing you to rest easy knowing you're protected by state law.

6. Easy Process

Finally, the title loan process shouldn't be complicated. Simplicity is key with emergency funding, which is why you can borrow money from us in just six steps:

  1. Complete the online form found on this website. It takes just five minutes since we ask for basic information only.
  2. Wait for one of our loan associates from your closest Delaware Title Loans, Inc. location to give you a call. They will discuss the process, ensure you have the necessary documents, and answer questions. You also need to decide whether you wish to meet at your nearest store or a more convenient location.
  3. Wherever you meet the loan associate, don't forget to bring the required items as discussed earlier.
  4. Sit with the loan associate while they analyze your documents and conduct a five-minute inspection of your vehicle to establish whether you qualify for approval.
  5. If you do gain approval, finish the paperwork with the loan representative's help.
  6. Finally, receive the money you need on the same or the following bank business day.

Get An Online Title Loan From Our Auto Title Lending Company Today!

Whether you're trying to fund bill payments, medical bills, or unexpected travel costs, our auto title lending company can help. Fill in our simple online form to start the process and get the money you need in as little as 24 hours.

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

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.