Los Angeles has been hit hard by recent economic problems affecting the United States. Many people in the Los Angeles area have never had a problem with their credit score before the economic crisis. However, with the recent situation, those who now have bad credit find themselves in need of seeking cash to cover emergencies.
There are primarily three options for consumers in the Los Angeles area who are looking for a title loan. These three options have been available for the last decades. These are not businesses that have arisen in response to the recent economic situation; These businesses have been around for years, helping clients experiencing financial emergencies.
The first option for consumers is to seek loans from banks. Unfortunately, banks are notorious for not lending to customers who have a negative credit history. Poor credit history on a customer may include recent credit problems or a recent financial transaction.
The second option for consumers seeking emergency money is a payday loan. Payday loans sometimes review the customer’s credit history and are based on a salary estimate. This causes two problems for consumers. First, if the customer has recently been in financial trouble, the payday loan may be denied. Second, the client’s next paycheck may be insufficient to meet the needs of the emergency loan.
The best option for a consumer with a poor credit history and who owns their vehicle is a car title loan. Auto title loans are usually available quickly. This type of loan is not based solely on credit history. A car title loan can be repaid over a longer period compared to a payday loan. A car title loan is based on the value of the vehicle and the ability to pay. If you are in Los Angeles and need cash for an emergency, our loan officers are ready to assist you.
How old can my car be to get a title loan?
Title loan companies are all different. We cannot guarantee the same good treatment or process, as we propose here, in another company. At our company, we do our best not to reject any car in the loan process. So what does this mean regarding your old car? It depends on the year and model of the vehicle. However, we will process the evaluation of your vehicle so that we maximize the value of the vehicle that will reflect in our quote and the loan.
Cars are important for many other reasons, aside from whether they are expensive or new. Cars, trucks, motorcycles, and other vehicles also help people get from one place to another. How can a title loan company expect the customer to make payments when their method of transportation is withheld?
Vehicles are a primary resource for their owner and the economy and are often overlooked. Without cars, there would be no affordable housing in the suburbs, or mega-stores, or the custom travel options for moving long distances. Without cars, people would need to live much closer to their workplaces, and many of the modern conveniences would be useless. Automobiles have become such a necessity for our daily routine that it is difficult to imagine life without them.
When we value your vehicle, all of this is taken into consideration. Our loans are based on the real value of the vehicle concerning the resale, and taking into account the value of the car for our client. We provide the maximum amount of loan possible based on your vehicle’s appreciation and ability to pay.
On the other hand, many clients come to our company in search of a specific amount of money. Often, the auto title loan we offer them is much more than they expected. In these cases, customers can, if they wish, accept less than the full amount.