Call Us Today (844) 567-5011
Call Us Today (844) 567-5011
Call Us Today (844) 567-5011
Call Us Today (844) 567-5011
A title loan that doesn't require a vehicle inspection is ideal for most customers looking for same day cash from their vehicle. Who doesn't want to skip the arduous process of meeting with a lender so they can check out your vehicle? Car title loans without inspections work because the lender can often confirm the vehicle's value through photos or other documentation. Conversely, finding a lender offering these loans is difficult because some companies insist on seeing the car in person. The reasons vary, and some states outright ban these secured loans.
Car title loans without an inspection mean the lender is not checking out your vehicle's physical condition or drivability. Some people prefer this as it saves them time to check their vehicle. However lenders are undoubtedly leery of this option as it can lead to fraud or improper loan amounts. In most cases it's simply more difficult to get an accurate valuation of your car or truck without an in person inspection and this forces the lender to either offer a lower loan amount or they'll look for other ways to underwrite the vehicle.
The bottom line is that these types of loans are possible and you can get cash without a proper inspection or visual proof of the car. Of course, the loan amount will likely be lower, but some companies may be ok with video proof of your vehicle as opposed to an in person verification.
Most people take out vehicle equity loans and title loans on semi trucks without inspection because they only take a day or two to get approved. Qualified customers can get fast cash which they can use immediately as there's less of a hassle to find a time that works for both parties to bring their vehicle to an inspection location. Instead of waiting days or weeks to underwrite your loan and complete an inspection, car owners can receive these funds within 24 hours in most cases.
In some cases it can take a bit longer to approve a title loan with no inspection because it simply takes longer to underwrite and process your application. The reason for this is because since there's no inspection, your lender is taking on more risk that the vehicle doesn't exist or that it's not worth as much as you say it is. Most valuation services like Kelly Blue Book look at recent sales of similar vehicles and they use that data to determine how much your car is worth. But what happens if there's damage to your vehicle or if there's some type of mechanical issue that lowers the resale value. Your lender won't know about this unless they inspect the car and that's why they may take more time to underwrite an auto money title loan to offset the risk of a lower vehicle value. That said, these types of loans are currently quite popular as the underwriting time can be cut in half.
In some states, the lender must physically look at the vehicle in person. That means you have to visit the finance company at their store or place of business so they can visually check out your vehicle. This enables the lender to confirm the vehicle exists, and they can then attach a value to the car and come up with a loan amount. Generally speaking, car title loans without having the vehicle inspected are allowed in most states.
For those lenders that offer no inspection title loans, the requirements are mostly the same as if you brought in the vehicle to get it examined. You'll still need to show proof that the car is paid off and titled in your name. You need proof of income, registration, and insurance. Since you're not physically brining in the vehicle for inspection, you still need to convince your lender that the vehicle is in good condition and in line with recent sales of similar vehicles. You can do this with video proof of the vehicle showing it's exterior and interior condition. Also get footage of the VIN and current mileage as this is often required to confirm its value.
For several reasons, car owners often prefer car title loans without inspection. First, there's no time spent waiting for a third party to check out your vehicle, so the approval process is much quicker. That means these loans are more convenient than other mainstream types of unsecured loans, and they can be processed quickly with funding in 24 hours. There’s no store visit required, and you can submit all the documents online. Secondly, people who decide to get car title loans don't always feel comfortable having a lender come out and check their vehicle and they don't want to deal with the hassle of having to schedule a time to meet with a lender for an inspection.
The bottom line is that a no inspection title loan is possible, but it will likely lead to higher interest rates and a lower funding amount.
Same day cash from Car Title Loans 123 is convenient, and you don't have to deal with the hassle of inspecting your car. The approval process is much simpler if you're looking for a California title loan as there are fewer lending requirements and most customers can complete the entire underwriting process in just a few hours!. Call us at 844-567-5011 or apply online for a secured loan that doesn't require an inspection!
