Top 5 Companies Offering Title Loans Online

Over the past 10 years, non-traditional loans have seen an increase in applicants due to U.S. banks placing stringent controls on lending. To borrow in today’s market, your credit must be near perfect or the banks won’t even entertain your application. As a direct result of this phenomenon, Americans are turning to subprime loans, particularly online title loans.

Online title loans, much like in-store, are loans that use your vehicle’s value as collateral. Essentially, your car is your credit. Lenders can place a lien on the vehicle owner’s title in return for a certain amount of loan. This is a short-term solution to help borrowers deal with an unexpected crisis in their finances. If you are a borrower, you should carefully consider the different options in the market before you go ahead and apply for a loan. Always make sure you clearly understand the fees and the terms of repayment that are associated with the loans before you sign any contract paper.

What You Need to Qualify

Your vehicle title is the DMV official document that establishes you are the legally pronounced owner of the given vehicle. A title loan can be claimed by offering your vehicle’s title as the collateral. You can still use and drive around your car while you pay back your loan and the interest. The concerned lender will release your vehicle title in a matter of days once you pay off the entire loan amount.

When to Use an Online Title Loan

Sometimes when you are in a financial crisis, there is simply no time for you to be bogged down with lengthy official procedures that are the standard with established financial lending institutions like the banks. This is when seeking help from an online title loan is ideal for you. We care about you and want you to make an informed decision. Here are the top 5 Loan Companies in the US for 2018.

1.    LoanMart:

This one company has been serving pink-slip loans ever since 2002. They are now seen as one of the leading title loan lenders in the country. Besides it easy to access online web site, it also has its physical branches in different locations across the country. LoanMart is now providing its loans in almost all of the states in the country.

The company has its own DMV processing team which helps borrowers to save a lot of time. Borrowers can actually get the loan in as little time as the next business day. The company currently offers an interest rate of 60 to 180 per cent APR. Additional fees are hard to determine but borrowers can expect an approximate of 5 % of the total loan for covering costs like origination and application.

2.    TurboTitleLoans:

This is a big lender and it offers car title loans across the country. They offer loans in all states of USA except for Alaska, Hawaii, West Virginia, New York, Maine, Maryland and Arkansas. According to customer reviews, it is currently one of the best choices in the country for title loans. The company has an established reputation of secure, convenient and safe online title loan procurement. Currently, its maximum interest rate is 35.99 % for the duration of the loan payment and does not go any higher.

3.    Auto Cash USA:

The company has a massive presence in the entire country with more than 500 locations and growing. It’s loans currently has an interest rate that ranges anywhere from 36 to 360 per cent. The company requires the borrowers to provide to them a clean pink clip when an ID issued by the government. It offers its title loans without any credit check and ranges from about $300 to $10,000.

Customers especially love this company for their approval rate which takes less than 20 minutes. It has licensed vendors in many areas the country and customers can visit any given location for their vehicle inspection.

4.    Titlelo Title Loans:

This startup company headquartered in Fort Lauderdale, FL makes loan procurement as fast and simple as possible. Borrowers can apply for a title loan online and get funding in as little as one given business day. Titlelo works with a series of reputable lenders whose interest rates currently ranges between 52 to 300 per cent APR. On average, it is 96 per cent. This startup has one of the largest service areas and they accept applications in all the states except for New York City.

5.    Auto Pawn:

Auto Pawn has been offering loans since way back in the year 1994. The company claims to be one of the oldest when it comes to title loan lending in the country. Is currently offers 100 % equity loans online in all parts of the country. An outstanding feature of this company is that is offers a 30 day guarantee of money back which without any penalty for pre-payment.