Welcome to Auto Title California!

This site will discuss car title loans; how you can get one; what the requirements are; what are the costs and fees; and using a Loan Center to obtain one. We will also explore other questions or concerns you may have using this method.

Introduction

As a way of introduction, we felt it would be a good idea to weigh the pros and cons of a car title loan. While some have called for more restrictions on title loans vis a vis loaning money to individuals with bad credit or no credit, it is similar to the way people obtain payday loans. To understand the complexity of car title loans, you would have to know that lenders need to obtain a license from the California Department of Corporations and provide services by external lenders. There has been much debate about title loans. Both sides, it seems, feel that usury is not the way to go. This is due to high interest rates placed upon those who need these services, and the consensus is that these high interest rates are just wrong. Thus, the House Financial Services Committee will consider title loans now and in the future. It is important to them that all people seeking a title loan have access to fair credit at reasonable rates. Thus, when all is said and done, car title loans will continue this year, however, they will be watched.

What is a Car Title Loan?

A car title loan is a personal loan that is secured through the equity in the borrower's vehicle. Therefore, the loan amount is based on the car's value, as well as the customer's ability to repay said loan.

Will I be Able to Keep My Car?

Yes, even after you obtain a car title loan, you can keep your car while the loan you have taken is current and outstanding. If you do not keep your timely payments, however, the car will be repossessed.

The Loan Center and TitleMax

These are the two top car title loan centers. TitleMax is based in California, and is considered one of the top car title loan centers in that state. The Loan Center has offices in Los Angeles, Fresno, and San Diego. The Loan Center, as does TitleMax, both offer car title loans and motorcycle title loans.

The Loan Center Car Title Loans

At the top tier is Loan Center. Here, if you need a car title loan, there are certain requirements. Your car is either paid off or near to being paid off. You can borrow money against the equity in your car. Thus you can borrow from $2510 to $50,000. But this is dependent upon if you qualify by submitting an application. You can call them via phone, after they receive your application, to find out if you qualify. If you do, you will receive the cash right away.

What are the Interest Rates at The Loan Center?

The interest rates vary depending upon where you live, your credit, collateral, and the terms you and the loan company agrees to. The annual interest rates can vary from 35.50% to 199.99%. For example, if you took out a $4000 loan with an 80% APR for a 24 month terms, you would pay $338.61 a month. Thus, the interest rate would be over $4000 over the term of the loan.

What Are the Benefits of Getting a Car Title Loan through the Loan Center?

Their application process is easy, fast, and simple. Once you qualify, you can receive your loan immediately. Their rates are quite competitive and have been touted as being lower than other car title loan centers.

TitleMax

TitleMax is at the top when it comes to car title loans. It is a company that is well known throughout California. They will accept your title as collateral when you cannot get a traditional loan from a bank. You can keep your car throughout the duration of the loan, and monthly payments are set up until you are fully paid. It is then you get your title back. The loan starts at $2500, which you can receive within 30 minutes at the TitleMax store. All you need to qualify is a car with a lien-free and valid ID. TitleMax also provides motorcycle title loans as well.

How do I Qualify for a Title Loan with TitleMax?

There are two types of loans at TitleMax: A cash loan and a pawn. Depending on the type of loan or pawn you need, the process is an easy one. Paperwork is required and one of TitleMax's customer service representatives will decide on the amount you qualify for. You can drive away with cash and/or motorcycle within 30 minutes, and you own the car or motorcycle for the duration of the loan. Once it is paid off, your title will be returned. You must be 18 years or older, have a valid ID, and have a clear car title and/or motorcycle title to be eligible to receive a loan in California. You will be required to bring the car or motorcycle to TitleMax where it will be appraised. You will also need proof of income, proof of residency, and your current vehicle registration. In California, a credit check is required to obtain a car/motorcycle title loan. Your credit standing, regardless whether it is good or ban will not necessarily interfere with the loan process.

Use TitleMax and The Loan Center

If you desperately need a loan to pay off your car, we highly recommend TitleMax and the Loan Center in California. Both are experienced lenders and offer fast and simple methods to secure you the loan you need.