Pink Slip Car Loans - Cash For Your Car's Title

Pink slip loans are designed for people who need cash fast. With a pink slip loan, you can borrow upwards of $15,000. When you take out a title loan against your vehicle, you are using the available equity in your car as collateral for a loan. You can be approved for a secured loan with bad credit and get cash in less than 24 hours.

A pink slip loan is easy and fast to qualify for as most applicants will have some equity in the car. That gives a title lender security in case you miss future loan payments. Your car's title will allow the lender to sell off your car at an auction if you can't repay the loan and interest on time. Lenders do everything they can to ensure that every client pays their loans back on schedule, but it just has to be mentioned because pink slip loans are secured to your vehicle title.

What Do I Need To Qualify For A Pink Slip Loan?

To be approved for a loan on your pink slip, you need a paid off vehicle in your name. You can't have a loan on a car that has two individuals listed as owners on the title. If both names are not on the pink slip, one must get their name off the title before applying. The last thing anyone wants is unnecessary drama or delays because someone's name was left on the pink slip after they were no longer responsible for payment on the title loan.

Bad Credit Pink Slip Loans

Pink slip loans are available regardless of your credit score. Most lenders won't even check your credit history because they would instead want to know there's enough equity available from your vehicle. Unlike personal loans, a pink slip title loan is secured, and there is collateral for a lender to fall back on in the case of default. Think of it like a home equity loan. People turn to home equity loans all the time to cash out equity and they use their house as collateral. While a mortgage lender may check your credit, they're more interested to know that there's enough collateral backing up the loan amount and they'll go after the home if you default on the payments. The same is true with pink slip title loans as you risk having your vehicle repossessed if you can't make the payments.

All pink slip lenders have specific requirements and rates for car title loans, so feel free to shop around and compare which finance company best fits your needs.

Find The Best Pink Slip Loans Near Me

Ensure you have all your documents ready for assessment by the pink slip lender. Early preparation can speed up the underwriting process when there aren't delays or holdups due to missing information or paperwork. Remember that any licensed pink slip lender requires proof that you own the vehicle, and they'll want to verify your identity and residency. For example, any company offering title loans in Texas requires valid identification and verification of your vehicle before signing off on a loan and the same is true with pink slip lenders..

Another tip is communicating with your underwriter to speed up the approval process. An honest and open conversation with your lender also enables you to build rapport. That's not to say that pink slip loans are difficult to qualify for, but it does help if you know what documents they're looking for before filling out an online application.

Rates And Payment Terms With Pink Slip Car Loans

Note that pink slip car loans will have a high interest rate. The introductory rate will be above 25%, with some companies offering an APR that approaches 125%.

The payments for pink slip title loans are made monthly, and the repayment term can be between 5 months and four years. While you want to pay off the total amount quickly, you don't want to be in a situation where you can't make the monthly payments. Borrowers also have the option to repay their loan early with no pre-payment penalty. That way, you can use a pink slip car title loan for a financial emergency and pay the balance quickly without dealing with high interest charges.

Pink Slip Loans From Car Title Loans 123

Did we mention that pink slip loans come with fast funding when applying with Car Title Loans 123? These secured loans are a great way to get cash for unexpected expenses, and all it takes is your car's title and proof of employment to get pre-approved.

You can get your funds quickly after completing the underwriting process and the vehicle inspection! Apply online or call 844-567-5011 to start your application.