: How to get a car title loan in Long Beach fast

How to get a car title loan in Long Beach fast

The car title loan is the fastest solution for anyone who needs money urgently. You get the cash on the day that you apply and usually you get approved within 30 minutes of your application, whether you do it online, over the phone or in person in one of our offices.

How to get a car title loan in Long Beach fast

What a car title loan entails

The process for getting a car title loan is pretty easy and quick. Keep in mind that you can also use your RV, truck, trailer, motorcycle or boat. You need to have the title of the vehicle in your name in order to be able to apply for a loan.

Car title loans are quite popular since they are a quick solution in emergency financial situations. They are preferred by many people because the lender runs no credit check on the person applying for the loan and with another type of loans, bad credit is one of the most frequent reasons why a borrower is turned down.

Car title loans are usually for small amounts and for a short period of time. Note that, with Fast Money Loan you can get as much as 100% of the Manheim value of your vehicle or up to $50,000. The usual period of the loan contract is 36 months; however, you are free to repay it quicker without a pre-payment penalty.

One of the advantages of getting a car title loan from Fast Money Loan is that you will also keep and drive your vehicle throughout the duration of the contract.

With a car title loan, you get fast money at an affordable monthly payment that you can use to settle your immediate financial issues.

Where to get a car title loan in Long Beach CA

If you need to get a car title loan fast, check what the lenders in Long Beach CA have to offer. There are several things to look for like the interest rate, the duration of the loan contract, the pre-payment penalty and the nature of the title loan approval process.

Here at Fast Money Loan, we guarantee a simple and transparent approval process that can be finalized within 30 minutes of your application. It doesn’t matter if you decide to contact us online, over the phone or in person. Our dedicated experts will help you get approved as quickly as possible and answer all the questions you may have. In addition to that, you have the freedom to choose whether to contact us over the phone, apply directly online or visit us personally in our office in Long Beach CA.

What documents to bring to get a car title loan

In order to get a car title loan, you basically need two sets of documents – one proving your identity and second proving the ownership of the vehicle.

The documents that you need to bring are your ID, a valid driver’s license, Social Security Card, proof of your current address, and employment (e.g. last paid utility bill or other financial documents). You need to provide the car title, which has to be on your name and be free of other liens against it. The car insurance and registration are also required. You might also be required to bring the spare key of the vehicle even though with Fast Money Loan you can keep and drive your vehicle for the duration of the loan contract.

Get started

Do not hesitate to apply for a car title loan. With Fast Money Loan, you get an approval of your loan within 30 minutes.

There are three ways to get in touch with us – call us at 877-594-4025, apply through our website or visit our office at 3451 Cherry Ave. Long Beach CA 90807. For your convenience we have also opened several locations throughout California in addition to the main office in Long Beach – you can find us in Los Angeles County, Orange County, Riverside County, San Diego County, Sacramento County, and Bakersfield.

Choose the most convenient way to apply for a car title loan and walk away from both with your car and the needed cash in less than half an hour.

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How to Get a Car Title Loan in Long Beach CA with Bad Credit

How to Get a Car Title Loan in Long Beach CA with Bad Credit

Borrowing money with a poor credit history is often a challenge for those in need of a loan and in some cases can even be impossible. Lenders have to complete a credit check before approving you for a loan.

How to Get a Car Title Loan in Long Beach CA with Bad Credit

But this is not the case with car title loans. If you have had financial difficulties in the past and have a bad credit history, you can still access loans in Long Beach CA. One good option is applying for a car title loan.

Car title loans explained

Car title loans or auto title loans are a form of borrowing money, characterized by short-term loan contracts, a smaller amount of money lent and the quick process of applying and getting approved.

The main requirement for getting approved for an auto title loan in Long Beach CA is the ownership of a vehicle. The borrower’s vehicle is used as the guarantee for the repayment of the loan. In some cases, the borrower will be able to drive the vehicle freely while the loan is active and is being repaid. However, it is vital to ask your lender whether this is something they allow as this practice varies from lender to lender.

Car title loans in Long Beach CA with bad credit

Because of the nature of car title loans and the use of the borrower’s vehicle as collateral, the credit score is not important and is often not included in the application process. Auto title loan lenders in Long Beach CA will not be interested in your credit history but will rather want to know more about your vehicle and your current employment.

What you’ll need to bring to get an auto title loan in Long Beach CA

To begin your application process, a number of documents are required to identify the borrower and the vehicle, which will be used as security for the loan. The documents include identification documents such as driver’s license and Social Security number, proof of address, financial documents required by your lender, vehicle documents, and references.

The best place to get an auto title loan in Long Beach CA

Car title loans are a popular and reliable way to get quick cash. There is a wide variety of companies who offer title loans in Long Beach CA. However, make sure that you have done your research and have ensured that your chosen lender is dependable and has credibility. Fast Money Loan is a professional auto title loan lender and the loan representatives will be with you every step of the way, making sure that you get approved.

Get Started

Get in touch with a specialist from Fast Money Loan by calling 877-594-4025, share your situation and the desired loan amount and the experts will guide you on the next steps. You can get your auto title loan the same day – the process is quick and usually takes no more than 30 minutes.

You can also apply in person at 3451 Cherry Ave. Long Beach CA 90807.

Wanted to get approved right away?

Apply for a car title loan in Long Beach CA online right now.

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Understanding simple interest on title loans

Understanding Simple Interest on Title Loans

If you are short on cash, you may be considering a loan. There is a great variety of loans out there, which can serve different purposes and are available against different types of collateral or without collateral.

If you have a bad credit score or your financial situation requires urgent cash, one of the best options for you is to apply for a car title loan. It will give you access to the needed financing very quickly, without a credit check and only against the title of your car, all while you keep driving it.

No matter what kind of a loan you apply for, it is important to know how much you will repay at the end. That’s why it’s important to understand loan terms and more specifically what kind of interest applies.

What is simple interest?

When you take a loan, you need to pay back the amount you have taken, or principal, plus the interest that accrues on it. The interest is typically expressed as a percentage of the loan amount and represents the cost for borrowing the money. In other words, the interest is what you pay to the lender for the service of providing you with the money. As it adds up to the amount you have to repay, it is of paramount importance to understand how interest works.

Basically, there are two types of interest that apply to a loan: simple and compound interest. Simple interest is calculated on the principal only and the balance that is left each month. Compound interest, on the other hand, is calculated on the principal plus the accumulated interest of the previous periods, meaning you pay interest on the interest.

In a nutshell, this means that simple interest loans are more advantageous for you and you should be looking for such loans when you are in need. The good news is that such loans exist and one of the most accessible ones is the car title loan.

How the interest on title loans is calculated

Now, you already know that the interest that will be charged on your car title loan will be simple interest. There are some other terms that you also need to be familiar with so that you can make the right calculations of the amount you are expected to return. There are two abbreviations to take into account:

  • APR or annual percentage rates. This is the total interest you are going to pay for an entire year. The calculations are very simple to do. You take the interest rate multiply it by the amount you have borrowed and you get the interest you will have to pay throughout the year. So, if your APR is 30% and the amount you have borrowed is $10,000, your yearly interest will be $3,000 (30% x $10,000);
  • MPR or monthly percentage rates. This is the monthly interest rate that applies to your loan. If you need to get the APR you simply need to multiply the MPR by 12.

Since the annual interest rate is usually quite high, most car title loan companies announce the monthly equivalent. Therefore, be very careful when you negotiate the interest rate and double check if it applies for a month or for a year in order to avoid any scams. Be advised that the APR for a car title loan is usually quite high since these loans are usually taken for shorter periods like a month or two.

You can also calculate the interest amount you are going to pay per day if you want. Take into account that each month is different based on the corresponding number of days. You need to divide the MPR by the number of the days in the month and then multiply the result by the amount you have borrowed. So, if you have 10% MPR and a month of 30 days your daily interest rate is 0.33%. if the amount of your loan is $5,000 then you have 0.33% x 5,000 and you end up with $16.50 interest per day.

How to make the best use of a car title loan

Knowing what kind of interest applies to your car title loan and the MPR or APR will help you calculate how much you “lose” every day and stimulate you to repay the debt as soon as possible. As you know, car title loans are usually used for emergency financing and are repaid over a short period of time. So, if you return the amount in 2 weeks, it is a very attractive type of loan. If you take your time, the amount that you will have to repay in interest alone will be much higher than the original sum of money you got. Here is what you need to do:

  • Turn your title loan into a short-term loan. Try to repay it as soon as possible. Usually, there is no repayment penalty for repaying the loan earlier than the period it was negotiated for, so do it if you can.
  • Try to negotiate the lowest interest rate possible. Even one point down on the monthly interest means a lot less money that you need to repay. Since the car title loan lender won’t be willing to lose you as a client to their competitors, they may be flexible with their terms.

Understanding how the simple interest on a car title loan is calculated will make it easier for you to pay it off on time and avoid additional charges or troubles. Besides, the car title loan remains one of the best options for getting much-needed cash in a short time, regardless of your credit history.

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defaulting auto title loan

What happens when you default on a title loan

An auto title loan or a car title loan is one of the easiest and quickest options to get cash when you urgently need it. Processed in less than an hour with little paperwork, the title loan is often preferred as it doesn’t require a credit check or proof of secure income. It is the ideal solution for those who do not qualify for bank loans and can’t count on relatives and friends when they have to pay a bill as soon as possible.

defaulting auto title loan

Getting a car title loan is a straightforward process that can be completed online. All you need as a proof is your ID, a lien-free title of your car (or any other vehicle that you are using as collateral) and a spare set of keys. You get the approval and the cash advance in no more than an hour and you keep driving your car as long as you pay your installments on time.

There is, however, the possibility that for one reason or another you fall behind payments and you default on your auto title loan. So, what are the consequences of that and is it possible to avoid them?

Car repossession and repossession time line

The first unpleasant consequence that you are faced with when defaulting on your title loan is the loss of your car. You can expect forced repossession of your vehicle at a time that you least expect. The lender doesn’t need to notify you before they send someone to take your car unless it is otherwise stipulated in your contract. Therefore, make sure to include the notification if possible. Otherwise, the repossession agent may turn up and seize your car while you are at work, picking up the kids from school or directly from your home at any given time.

You should be aware that according to the Federal Trade Commission the rules governing the car repossession are formulated by each individual state, and thus you can expect different procedures in different states. In some cases, the lender can repossess the car even after one missed payment, while other states require at least several missed payments before this step is implemented. The details on defaulting your title loan will be given in the contract you sign with the lender. You need to read it carefully and ask any questions if you are unsure of something.

Here are a few facts that are valid for car repossession, regardless of your individual contract.

Once the borrower defaults on their car title loan, the lender CAN:

  • seize the vehicle at any time
  • come onto the borrower’s property to seize the vehicle
  • choose not to notify the borrower when the vehicle will be repossessed

There are also several restrictions when it comes to car repossession. The lender CANNOT:

  • Make threats against a borrower or their family
  • Use physical force against a borrower
  • Physically force another property or in other words they cannot open your garage by force to take the car out of there

What happens with the repossessed vehicle?

Once the lender repossesses the vehicle they have to put it to auction and sell it. The money acquired at the auction will be used to cover the borrower’s debt on the title loan. If the vehicle is sold for more money than the amount due, the lender is required to return the differences to the borrower. In addition to that, any personal belongings that were in the car at the time it was seized, should also be returned to the defaulted borrower.

Voluntary Repossession as an option

In some cases, the borrower realizes that repossession is inevitable and therefore they can opt for a voluntary repossession. This means that the borrower goes directly to the lender and agrees to drop off the car. The two parties can agree on a convenient date and place where this can happen. In exchange of the car, the defaulted borrower receives confirmation that all their debt is settled and they won’t be pursued any further. This can save you from some negative penalties and most important the repossession is not recorded in your credit history, while otherwise it stays there for up to fifteen years.

Credit score damage

Defaulting on a car title loan and the subsequent repossession will affect your credit score quite negatively. The default can appear in your credit history for up to fifteen years in some states. The missed payments will also decrease your credit score. A missed payment usually stays in your credit history for about two years.

How to avoid default on your car title loan?

The best way to avoid a default on a car title loan is to plan for your payments in advance. Usually such loans are taken for a shorter period, such as one month with an interest of 25%. So, if you have received $1,000 you will need to return $1,250 at the end of the month. You can also repay only the interest and prolong it for several more months.

Before taking any loan, make sure that your total debt repayment doesn’t exceed 50% of your monthly income. Take into consideration all forms of payments that you need to make – not only on the title loan but on credit cards, rent, etc.

If you are struggling with debt management, in general, you can consult a licensed credit counselor, who will give you tips and can even draw a special debt management plan.

There is also the possibility to approach your lender and renegotiate the terms of your payment plan. At the end of the day, car title loans are meant to help people who need urgent financing in order to get out of trouble and not to worsen their condition. It is an easy and quick way to get cash without much hassle or credit checks. Just be sure to make a solid plan for repaying the loan before you sign the contract.

Need cash fast? Fast Money Loan offers title loans in Long Beach and across California. We offer very fast approval rates and will beat our competitors’ interest.

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No Credit Check Title Loans

All You Need to Know About No Credit Check Title Loans

In our busy life we are often faced with the need of having quick cash in order to cover some outstanding debt, urgent medical treatment or even celebrate a happy occasion like an anniversary. There are several options to get money – get a title loan from a bank, borrow from a relative or get a quick payday or title loan with no credit check.

If you are not familiar with the last option, keep on reading and we’ll tell you all you need to know about no credit check title loans.

No Credit Check Title Loans

What differentiates traditional loans and car title loans

The one thing that separates title loans from any other type of loan is that you use your vehicle as collateral. It could be a car, a truck, a motorcycle, a boat – anything with a title. As long as you are the owner, you can get money for the title. Understandably, car title loans are the most common form of title loan. When people are in a financial crisis or just need money fast, they find that title loans are much better than other alternatives. That’s because we get to keep your title which gives us some security and lowers our risk. In turn, we are able to offer interest rates much lower than those of other fast cash options. This is also why we can afford to give a loan with no credit check. You can be approved as quickly as 15 minutes. And the best part – your vehicle remains yours to drive!

What is a credit check?

In most cases, lenders require to perform a credit check prior to lending money. This allows them to estimate the risk and helps them decide whether or not they want to give you that loan. Having poor credit score makes it hard to find a safe loan. There are two types of credit checks – hard and soft. A hard credit check means pulling a full copy of your credit history. The most important thing about hard credit checks is that having too many of them will lower your credit score. That’s because they show up on your credit report. Soft credit checks, on the other hand, return much less information and they do not affect your credit score in any way.

 Do you qualify for a no credit check title loan?

Getting an online title loan without a credit check is a relatively simple and straightforward process. There are several requirements that you need to be compliant with in order to qualify for receiving the loan. There might be some slight variations depending on the company. Here is a list of the basic requirements:

  • To be at least 18 years of age
  • To be resident of the respective state in which the company operates
  • A current utility bill as proof of your residence
  • To own a vehicle that is paid off
  • To have a car (or other vehicle) title in your time, which is free and clear, meaning there are no other liens against it
  • To provide personal ID – driver’s license, social security card or any other personal information
  • To provide vehicle documentation – vehicle registration, insurance, etc.

In order to get a no credit check title loan, you can use any vehicle with a title – cars, trucks, RVs, motorcycles, or boats. Most often a car used as a collateral but many companies work with other types of vehicles as well.

In some cases, companies may require some additional information or documents such as your last pay stub or to provide a spare set of the vehicle keys. Quite often, there is a limit on how much the vehicle is valued at so that it is accepted as collateral for the title loan.

You should also keep in mind that some companies may as well run a credit check on you but proceed with giving you a title loan even though you have bad credit history. At the end of the day, that is the niche they are operating in.

What are the advantages of no credit check title loans?

The main advantages of a no credit check title loan offered by the best companies in the field are the following:

  1. It is quick
  2. Everything is done online
  3. Bad credit is no problem
  4. There are many ways to pay – cash, money orders, cashier’s checks and even debit cards
  5. You keep and drive your car
  6. You may even get a cash bonus if you refer a friend

There might be some additional advantages offered by the different companies. In some cases, the lender does not require an insurance of the vehicle or accepts a foreign ID as well.

The main advantage is that you get the cash that you urgently need very quickly and without extensive paperwork.

How to recognize a good no credit check title loan company?

So, you have emergency expenses and you need to cover them as quickly as possible… No problem – check online and find the best company that offers quick title loans following these tips:

  • Most companies are licensed to lend money only in one or a couple of states. Therefore, do not waste time to search for title loan companies in general but narrow your search down to the lenders in your state. In fact, you can even narrow it down to your city. For example, you can say “title loans in Long Beach, CA”
  • Make sure that they have very clear requirements and explain the loan process on the website
  • Make sure that you are dealing with a real lender and not just a company who wants to collect your personal information and then sell it to an actual title loan lender.
  • Look for a well-maintained site with updated information, working contact details and useful articles

Once you feel confident about the lending company you have chosen, you can send them the required information.

So, if you are in need of a loan, rest assured that you’re not the only one. People look for loans for plenty of different reasons, like starting their own business, paying for school or preparing for a wedding. Or they simply need money to pay their bills until their next paycheck. If your credit isn’t great, no credit check title loan may be a great solution.

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