types of title loans

5 Types Of Title Loans

Title Loans: Different Types Of Vehicles You Can Get Loans With

Life is full of surprises. However, not all of life’s surprises are of the good kind. Sometimes life can throw unexpected hardships our way. Whether you recently lost your job, got divorced, got seriously injured, or fell behind on payments for your house or other property, you can rest assured that so long as you own a working automobile, you have access to a cash loan if you need it. In this post, we will briefly go over what a title loan is, how you can get one, and the different types of vehicle title loans.

What Exactly Is A Title Loan?

That is a great question and one that we get asked very often. Put simply, a title loan is a type of loan where the borrower uses their vehicle title as collateral. The lender is allowed to place a lien on the borrower’s vehicle title which will be removed once the loan is repaid in full. As long as you make your loan payments, you can keep driving your vehicle! For those with poor credit and can’t be approved for a loan by a bank, a title loan is a convenient way to borrow the cash you need to pay your bills. Start Filing Your Taxes – Here

How Is A Title Loan Obtained?

Fortunately, title loans can be obtained quickly and easily. After being completed, a title loan application can be processed and approved within minutes.

Five Types Of Vehicles You Can Get A Quick Cash Loan With:

While car title loans are the most common type of title loans, there are other types of vehicles with which one can get a low-interest title loan.

Cars

Cars (also called automobiles) are by far the most commonly-owned type of vehicle and make up the vast majority of all title loans. Titles of cars of all types can be used as collateral for auto title loans.

Trucks

Trucks are another type of vehicle that can be used to secure a title loan. They come in many types and sizes and are usually used to transport supplies, equipment, and other cargo. The process for obtaining a truck title loan is similar to that for obtaining a car title loan.

SUVs

An SUV, short for “Sport Utility Vehicle”, is a large automobile designed for use on city streets as well as off-road. Sport utility vehicles can also be used to obtain auto title loans.

Motorcycles

Title loans aren’t limited to vehicles with four wheels. Motorcycle owners can use their vehicle title to obtain motorcycle title loans.

RVs

RVs, short for Recreational Vehicles, are large motor vehicles with cabins meant to be used as living spaces. Recreational vehicles can be used as collateral to secure RV title loans.

Low-Interest Types Of Title Loans In The Palm Springs Area

Champion Financial Services has been in the business of providing low-interest personal loans and auto title loans since 2010. Based in Cathedral City, they have additional locations throughout Southern California including offices in Indio, Riverside, San Diego, and Santa Ana.