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What is a Car Title Loan?

A car title loan is an incredibly popular type of short term loan that allows you to raise a large amount of cash in a short amount of time. Two of the best benefits to car title loans are that they’re easy to get, and available to almost anyone (even people with bad credit).

Car title loans are a simple, easy way to borrow money, involving three basic steps:

  1. You apply for a loan, online, over the phone, or in person
  2. You submit the necessary loan documents and required information (like your car’s make, year, mileage, condition, etc.)
  3. You get your cash!

Borrowing money simply can’t get much simpler or easier than that! Using your vehicle as collateral for a short-term personal loan might sound scary, but it offers some serious benefits, including speeding up the applications process, reducing the amount of interest you’ll have to pay on the loan and ensuring that you can take out a loan even if you have poor credit.

Here at City Loan in Long Beach, we’ll even let you take out a car title loan without requiring you to leave your vehicle with us, reduce your mileage, or stop driving it entirely. In fact, as long as you continue to make your monthly payments, we won’t restrict your driving in any way!

That may sound like a promise that’s too good to be true, but it’s the reality here at City Loan, and just one of many defining factors that make our car title loans the best option for raising money quickly.

 

How Do Car Title Loans Work?

If you've ever wondered how car title loans work, look no further. They involve trading temporary possession of your car’s title for a cash loan based on the value of the vehicle. All you have to do is make a series of small monthly payments to pay back your debt, and after you’ve paid it off entirely, you get your title back. At City Loan, our borrowing process has been streamlined to be as quick and easy as possible. It can be broken down into these four simple steps:

  1. You give us temporary possession of your car’s pink slip (title)
  2. You get a cash loan based on the amount of money your car is worth
  3. You make a series of affordable monthly installments to pay back the loan
  4. You get your car’s title back after the loan is fully paid off

It really is that easy! Don’t forget unlike some other forms of short-term lending (pawning, etc.), you’ll still retain full access to and the use of your vehicle. Unlike some other lenders, we won’t restrict you from driving your car in any way. At City Loan, we make it easy to borrow money quickly, without having to make any serious sacrifices. There’s simply no more convenient way to borrow money.
 

Advantages of Car Title Loans

Car title loans, also known as vehicle title loans and auto title loans, are a great way to get money quickly, but they also offer some other distinct advantages when compared to other forms of short-term lending. Here are some of the most important reasons why you should consider a car title loan:

Major Benefits of Car Title Loans:

  1. Car title loans have a streamlined, fast, and easy applications process. Most car title loan companies have online application forms that allow you to submit required information from the comfort of your home, and here at City Loan, you can apply however you like (online, over the phone or in person).
  2. Car title loans are a great option for people with bad credit. Keep in mind, credit is taken into consideration when processing your application, but it isn’t always a deal-breaking issue like it becomes with other forms of lending.
  3. Car title loans are exceptionally fast, typically allowing you to raise thousands of dollars in mere minutes. At City Loan, we’re typically able to get money to our borrowers within the same day that it’s requested.
  4. Car title loans allow you to keep your car, even while you’re using it to secure your loan. Using your car as collateral to secure your loan allows you to borrow money at a lower interest rate, all without having to sacrifice the convenience of actually using your car!

Keep in mind though that each title loan company offers a different deal, and that some have much more convenient, more affordable loans than others. If you want to borrow money from the best car title loan company in the country, contact City Loan today.

 

Can I Get A Car Title Loan With Bad Credit?

Absolutely! At City Loan, we don’t limit our loans to people with great credit. There’s a reason we’re so widely known as the best provider of loans for people with poor credit. No matter what your credit history looks like – even if you have previous defaults, repos, or bankruptcies on your record, we may still be able to help. Your ability to get a car title loan from City Loan is more dependent on the value of your vehicle than your credit score, and the more your car is worth the more you’ll be able to borrow.
 

How do Car Title Loans Compare to Other Options?

When it comes to short-term personal loans, there are a variety of different ways to raise money quickly, but none of them can compete with the convenience of car title loans. Here’s how City Loan’s title loans stack up compared to other forms of borrowing:

Car Title Loans vs. Auto Pawn Loans

Auto pawn loans and car title loans are nearly the same thing, except for one glaring difference: car pawning often requires you to leave your car with the pawn shop, meaning that you won’t be able to drive it until you’ve fully paid back the loan. If you don’t think that matters, then just imagine getting through your week without having access to your vehicle. How would you get to and from work? How would you drop the kids off at school? How would you run errands, or get to appointments? Every once in a while, auto pawning might make sense, but for the majority of Americans, car title loans are a significantly better option.

Car Title Loans vs. Payday Loans

In recent years, payday loans have become one of the most popular ways of raising money quickly, especially for people with poor credit. However, any potential benefit to payday loans quickly fades away once you take a good hard look at the many drawbacks to payday loans, including:

  • Payday loans aren’t available to people who can’t prove their income, meaning that if you’re unemployed, get paid under the table, or have an income that isn’t regular (steady paychecks every two weeks), you won’t be able to borrow via payday lending.
  • Payday loans are usually limited to the value of your next paycheck, which isn’t a lot of money for most of us. If you only need to raise a couple hundred dollars, this point may not matter, but if you need a few thousand, or tens of thousands of dollars, then payday loans won’t be able to help.
  • Payday loans have to be paid off entirely at the time you receive your next paycheck, rather than being paid off over a period of time via a set of small, affordable monthly installment payments. If you’re already having trouble coming up with enough cash to get by, what are the odds that you’ll have everything fixed by the time of your next paycheck?
  • Payday loans come with all sorts of hidden fees, extra costs, and the potential for entering a never-ending cycle of increasingly worse debt. There’s a reason that payday loans have been outlawed in several states, they’ve got a bad reputation for trapping people into inescapable debt via late fees, penalties and other costs that dramatically inflate your cost of borrowing.

Unlike payday loans, City Loan’s car title loans don’t face the same limitations. Our car title loans are available to everyone, regardless of their current employment situation, they are capable of raising tens of thousands of dollars, they can be paid back over time, and they don’t come with hidden fees and excessive penalty costs.

Car Title Loans vs. Credit Card Cash Advances

Credit card cash advances may seem like a great deal, but they too come with some significant drawbacks that may make you change your mind:

  • Credit card cash advances can typically only raise very small amounts of money (whatever is left between what you’ve already borrowed, and the total amount of your credit limit).
  • Credit card cash advances often require having good (or even great) credit scores, meaning that if you’ve got a troubled financial past, you won’t be able to get one.
  • Credit card cash advances are only available to people with credit cards, and people with credit cards that aren’t already maxed out.

Compared to credit card cash advances, car title loans are a much more flexible option. City Loan’s car title loans are capable of raising significantly more money than most credit card cash advances could produce, they don’t require having a great credit score, and they aren’t limited to people with credit cards. In fact, even if all your credit cards are already maxed out, it’s likely that we’ll still be able to help you raise the cash you want today!

Car Title Loans vs. Traditional Bank Loans

Traditional bank loans are the best way to borrow money when you’ve got exceptional credit, but if you have any credit issues, then the applications process may become your worst nightmare. Bank loans are limited by a few important factors, including:

  • Bank loans are typically very slow, requiring weeks to complete the applications, underwriting and funding process. If you’re in a hurry to raise cash quickly, banks probably won’t of much use.
  • Bank loans are often reserved for people who are borrowing money for a specific, “approved” reason, like buying a new house, upgrading an existing property, starting or funding a business, or doing something else that is looked at as an “investment” with a possibility for generating value down the line. If you’re just looking to pay the bills, or take a vacation, then banks may not be willing to let you borrow any cash.
  • Bank loans are the hardest to qualify for, because banks only give money to people with perfect credit. If you thought it was hard to get money from a poor credit lender, just wait until you go through the applications process at a bank. Have you ever missed any payments? Defaulted on any loans? The bank may say no to your request to borrow money for things that happened many years ago.

With a car title loan from City Loan, you won’t have to worry about of these drawbacks! Our title loans are fast, not limited in how they can be spent, and available to people with poor credit. When it comes time to raise money in a hurry, there’s simply no better lender than City Loan.
 

Car Title Loan Tips For New Borrowers

If you’ve never borrowed via car title loans before, here are a couple important points to keep in mind:

  • Your car needs to be either fully paid off, or nearly paid off, to take out a car title loan. If you haven’t built up any equity in your vehicle, then you won’t be able to use it as collateral for a loan.
  • You need to have a clear title to take out a car title loan. You will need to be the titleholder on your car in order to get a loan. If you don’t own your car, or if the title isn’t in your name, then you won’t be able to get a loan.
  • You’re borrowing against the value of your car, so if your car isn’t worth very much, then don’t expect to be able to borrow a ton of cash. Every company values cars differently, and uses a different multiple to determine just how much borrowers can get, but a good rule of thumb is to expect to be able to borrow only about as much as the wholesale value of your car.
     

Contact City Loan Long Beach Today

City Loan offers the best car title loans in the business, and we’re ready to help you today! Whether your credit score is great, horrible or nonexistent, we can get you the cash you want within minutes of receiving your completed
application.

There’s a reason why we’re well known as the best lender for people with poor credit – it’s because we really can help even if you’ve already heard “No” from everyone else. Call us now at 1-888-238-9085 to get your own fast, easy and convenient car title loan today!
 

Find the Closest City Loan Near You!

Are you a resident of Long Bach, California? If so, our primary City Loan office is located just a short drive away. There's no need to go anywhere else because City Loan of Long Beach will take are of you every step of the way. 

Address: 
3431 Cherry Ave,
Long Beach, CA 90807


And you're not in the Long Beach Area, we've got you covered! City Loan can be found in stats like, Missouri,  South Carolina, Utah, Texas,  California,  New Mexico, and  Arizona.  You might be close to one of our service area's and not even know it. 

That's why you should give us a call today!