How To Get The Best Car Title Loans in Riverside California
If you are in need of emergency financial hep, a car title loan may be an option for you. Generally, auto title loans have higher interest rates, so you need to make sure that if you are going to borrow the money you have the adequate funds to repay the loan. In Riverside, California, just like in all of California title loans are regulated by the California department of business oversight.
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Riverside Auto Title Loans – Learn more now!
To get a good loan it helps to have the following information ready for when you call.
- The Make or Brand of your vehicle
- The Model of your vehicle
- The Mileage of your vehicle
- Your monthly income
- Personal references
- Professional references
- Full coverage insurance
- Pictures of the car
- Possession of the title
- Whether or not the car has a clean title or a salvage title
- And a few other things
Vehicle collateral loans and pink slip loans? What are these?
Many times car title loans go by other names, like vehicle collateral loans, or pink slip loans. You can check out the FAQ guide on getting a good car title loan in California.
A vehicle collateral loan is based on the equity in your vehicle. So, your credit score is not as important as some other metrics. Click here for more information to get a title loan in Riverside, California. The lender will loan you a percentage of the resale value of your vehicle. Remember, a lender is in this to make money. A lender is not a charitable organization and if you do not make payments on your title loan the lender has the legal right to repossess your car, truck, or SUV.
How much money can you get on an auto title loan?
This depends on the factors above but it will come down to a few main things.
- You need to have full-coverage insurance on your vehicle. Once you get a loan the lender has a vested financial interest in your vehicle. If your car is wrecked, the lender will get a percentage of the insurance payout. Just like a bank would on a normal car loan if you have owe money on it.
- What your monthly income is? The higher your monthly income–especially your disposable income–the more likely you are to be able to repay the loan. If you have $10,000 a month coming in that you do not have to spend the lender will likely be willing to loan you more money because your debt to income ratio is a better risk for the lender.
- The condition and mileage of your vehicle. This is what the lender is really going to examine. If you have a vehicle that is only a a few years old in good condition with low mileage, the lender is likely going to lend you more money. Why? Because it is a better risk for the lender. For example, a 2014 Ford F-150 with 32,000 miles on it will likely allow you to borrow more money vs. a 2009 Ford F-150 with 113,000 miles on it. This is because if you default on the 2014 Ford truck the lender can make more money by auctioning it off. Therefore, the risk is less to the lender and they will likely lend you more money.
All of these are guidelines. The best thing you can do is to call The Net Lender today at 888-539-2065! Or, fill out the application form on the website. Our staff is polite, friendly, and easy to work with.