Auto Title Loans | Pink Slip Loans

Pink Slip Loans

Auto Title Loans - How Much Can You Borrow

In today’s economy many people are going through financial hardship, these people are not in the best position when it comes to their credit or their overall finances for that matter. To get emergency loan in such situation you can get loan against your vehicle. There are many lenders who can provide you with fast cash by using the value of your car or truck equity as collateral, not your credit score.

What is Auto Title Loan or Pink Slip Loan?

Auto title loans or pink slip loans are like hard money or subprime loans given to car owners who have bad credit. They use their vehicle equity as security or collateral, to borrow money based on the value of their car or truck.

When you apply for an auto title loan, you'll have to show proof that you own the title of your car or truck. Your car or vehicle should have a clear title and that your car loan is paid off or nearly paid off. The new loan is secured by the auto title or pink slip.

Auto title loan or pink slip loan can also help you boost your credit score. If you use them responsibly, you can really build new credit and raise your credit score. This is how it will works. Before you apply for a pink slip loan, make sure you have a plan in place to start paying back your debt immediately. If you pay before the due day that helps your credit rating.

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Pink Slip Loans are regulated by state laws.Some states allows borrower to borrow only one loan at a time and capping them at 50 percent of a car's value. Responsible borrowing is the key to success anytime you need a short-term emergency cash. In the event you fall behind with your payments, most contracts can be rolled over, but this adds to the cost of the original debt. You should only borrow what is absolutely necessary to meet your needs and plan to repay the money as quickly as possible.

The interest rates for pink slip loans are usually higher compared to other loans and if you cannot pay off your loan by the end of the loan term, the lender may allow you one more term with an increased rate of interest.

Pink slip loans or Car title loans are instant loans which can be applied for and processed over the counter, on the phone, or internet. These loans are not based on credit rating. A negative credit rating or a failed credit check will not result in your loan application being declined. Lenders who provide pink slip loans capitalize on negative credit rating by charging and earning a higher interest rate on loans.

Qualifications for obtaining a auto title loan or pink slip loans are very straight forward. You have to be 18 years old, have a job, a home address, and clear title to your car. If you meet the qualifications, and your car is accepted into the program, you can get your money quickly.

Documents Required for Auto Title Loan are:

Clear Car Title / Pink Slip

Driver's license or state-issued I.D. card

Proof of Income

Vehicle for an inspection

This web site is an advertisement designed for general information only. This is not a government website. The content of this site are for informational purposes only, and it should not be considered financial or legal advice. We aim to provide you with accurate and useful information, but every individual has specific circumstances. This information may not apply to every individual. Individuals specific circumstances should be taken into consideration.

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