How Do Car Title Loans Work?
Most conventional loans work in a similar way. You make an application, and a lender determines whether you’re eligible for a loan based on various factors. They check your credit score, financial history, assets, etc. This is a time-consuming process, after which you might still be refused a loan. Even if you’re eligible, the money may be designated for a specific purpose.
Vehicle title loans are different. There are no credit checks, no examination of your financial history. The amount you can borrow is determined by the value of your vehicle, along with your income.
What is a Car Title Loan?
As your lender, CarFundy uses your vehicle as collateral to secure the loans that we offer. This means that your credit score doesn’t matter when we determine your eligibility. Unlike a standard car pawn, a car title loan doesn’t require you to give up your vehicle. We will place a lien on the title of your car, which will be canceled when you’ve finished paying back the loan. As long as you remain up to date on the easy monthly repayments, you can continue to drive your vehicle as usual. As a bonus, making timely payments could boost your credit score.
As your credit score isn’t a major determining factor in your eligibility for a loan, a car title loan is a good choice for someone who doesn’t have a perfect credit score. As long as you own your car or other vehicle, you could be eligible for a vehicle title loan.
At CarFundy, we ensure that all our loans are fair and structured responsibly. That means they’re easy to manage, and you can meet all your payments.
How Do I Get a Car Title Loan Online with CarFundy?
If you’ve finished making payments on your car or only have a small amount left to pay off, you can apply for a car title loan online. To be eligible, you’ll need to be able to show that you own your vehicle or have a significant amount of equity.
Determining the amount you can borrow is quick, simple and free. Just fill out our loan application. The process is straightforward.
- Fill out an application form with your information.
- Speak to one of our helpful loan officers or a CarFundy store associate.
- Finalize the loan paperwork.
It’s important to make sure that the details you provide are accurate. We’ll use this information to work out how much you can borrow. Once we have the information we need, one of our helpful and friendly loan officers will get in touch. If you’d prefer to find out how much you can borrow over the phone, you can call our toll-free number. However you decide to apply, we’re ready to help you.
Once you’re satisfied with the loan amount, you can confirm that you’re ready to move forward. Your loan officer will then assist you in finalizing the paperwork.
For the speediest approval, be sure that you give us all the necessary documentation. It can be helpful to talk to a representative at CarFundy to discuss the documentation that you’ll need to provide us. Typically, you’ll need to show us your driver’s license, the title to your car or other vehicle, and some proof of income. Collect these documents now so you’ll have them on hand when you put in your application. This is so that our team can check your application and approve your car title loan swiftly and efficiently. Fill out the application on our website or visit one of our convenient stores to apply.
Benefits of a CarFundy Car Title Loan
A car title loan has many benefits when compared to a traditional loan. The application process is much more rapid — if you have the right documentation and are eligible, you could get your money within a day or two. Other loans can take many weeks to process, with no guarantee you’ll be approved.
Not everyone has perfect credit. If you’ve had financial difficulties in the past or simply haven’t established a credit history, a traditional lender might penalize you. Even if your lender does approve you for a loan, you might have to pay higher interest. With a car title loan, your credit history won’t change your eligibility.
Many traditional loans discourage early repayment with hefty fees. CarFundy doesn’t penalize you for paying off your loan early if you want to. Early repayment can lower the amount you end up paying in interest.
Unlike a conventional lender, CarFundy understands that financial emergencies can affect anyone and are not in your control. We’re here to help you through this challenging period. Our car title loan rates are very competitive, and we’ll look out for you every step of the way. Resolve your money problems and get rid of financial stress today with a car title loan.
Questions About Car Title Loans Online
If you still need more information, we are happy to help. You can check out our FAQ page for some of the most common questions people have about our services. You can also contact us to find out more about our services, either online or by phoning our friendly representatives.
What Other Products Do CarFundy Offer?
Besides traditional car title loans, CarFundy also offers vehicle title loans on other types of motor vehicles. Perhaps you have a motorcycle or an RV with plenty of equity. You can leverage a vehicle title loan against these, and trucks, and many other types of vehicles.
Refinancing Your Loan
If you find yourself needing more time to finish repaying your loan, we can help. Refinancing your loan allows you to spread your remaining payments over a more extended period, lowering your monthly costs and making your loan even more affordable. Talk to a loan officer if you think refinancing might be helpful for you.
Car Title Loans Online
If you can’t visit one of our stores, you can apply for a loan entirely online. You can submit most or all of the documentation via the Internet. In some locations, it may also be possible for a notary to visit you at home. We can also help you over the phone.
Can I Apply for Car Title Loans Near Me?
Our conveniently located stores make it easy to apply for an auto title loan in person. Why wait? Apply for a title loan with CarFundy today!