Car title loans online – turn your auto into cash now
Green-Touch.org offers Title Loans throughout the US. Keep your vehicle, but use it as collateral to get hold of the cash you need! Green Touch offers a quick and easy online application process, on-site vehicle inspection, and repayment terms that are flexible, with no penalties for early payment.
No application fee
Receive funds directly into your bank
ONLY THREE EASY STEPS TO SUCCESS
Fill out the form
Sign Your Loan Docs
If a time comes when you need to cover an unexpected expense, but you don’t have the financial means to do so, borrowing money could quite possibly be your best option. But what if your friends and family can’t lend you the cash you need or you have a bad credit score? If that’s actually the case, there’s no need to panic because you can get access to instant cash by using your car ownership documents as collateral for a loan.
Title loans have been around since the early 90s as a quick way to get loans during emergencies. However, not everybody understands what they actually are and how to obtain them. So let’s look at some of the most frequently asked questions and go in deep on different features so you can get a better understanding of what you are getting yourself into, as well as give you some advice on things you should do to prepare. Let’s kick off with the most obvious questions of all:
An online loan that differs from payday loans in that it is a pledge secured with a lien on your property, a vehicle as collateral. All the vehicle’s documentation, including its title, is returned to the borrower once the loan and all fees are repaid in full. If the borrower is unable to repay, the vehicle can be auctioned to pay for the outstanding loan. These are short-term loans intended for short term liquidity only and carry hefty interest rates. Most lenders do not consider a borrower’s bad credit history to be an obstacle. What matters most is the vehicle type and its condition.
These loans work work like any other collateralized loan. For instance, if you were to take jewelry or other valuables to a pawn shop, an employee behind the counter would appraise your items and give you a loan based on what your items are believed to be worth. The pawn shop will lend you money and charge interest. If you don’t pay back the money within the agreed period of time, you will forfeit your items.
When your car title is used as collateral, the main bonus is that you can still drive your vehicle and use it as you normally would for the duration of the loan. However, the lender will keep the title until the money owed is paid off.
You can also secure cash on your other vehicles such as motorcycles, SUVs, and motorhomes.
Since this type of loan is based on the equity you have built up in your car, most lenders will expect you to own your car outright. However, you may still qualify even if your car is not fully paid yet, as long as there is enough equity in it, some lenders are willing to accommodate you even if your car’s title is under a loan from another lending company. Loan companies understand that each borrower’s situation is unique so you need to discuss your needs with them in order to work out a course of action most suitable for you. Other requirements may include a minimum age, proof of your income and proof of your residence
Interest rates for car title loans vary among different lenders and APRs (annual percentage rates) tend to be in the triple digits. Always check the cost of your loan before signing an agreement.
Never hesitate to negotiate with your lending company. In fact, some lending companies can offer competitive interest rates that are below state standards.
The auto title loan amount depends on the value of your car. Lending companies ask borrowers to bring their vehicles in for inspection. After that they will make an offer based on their appraisal, so make sure that your vehicle is clean and in great shape before the evaluation. Usually, the lending company allows you to borrow an amount up to about 50% of the resale value of your vehicle because they need enough wiggle room to recover in case you can’t repay the loan
A car title loan duration period can last from few months to even a few years if the APR is low and collateral is high. It will all depend on what you and your lender have agreed on.
Usually, lending companies don’t require credit checks for borrowers who use their car titles as collateral although they may query some databases to determine your ability to repay. Because your borrowing is secured on your vehicle they are less likely to pay attention to your credit report. Hence this type of loan can also be beneficial for people without an income stream.
To apply for an auto title loan you have to fill our form above to get in touch with a title lending company. They may ask you to fill another online form. They will make an offer based on their inspection of your vehicle. Once you have agreed to the terms and signed the contract, they will issue you a check or transfer the money to your bank account.
Lenders should give you a copy of the contract containing all details for your debt, fees, interest rate, repayment dates and penalties for late payment.
There are things you need to make sure you’ve read and understood before signing the contract –
Read the fine print!
Calculation of the interest rate
For instance, a 3% interest rate may seem good until you read on and see that it’s 3% per month, which compounded over 12 months is equivalent to 42% per year. 10% per month is equivalent to 314% per year! Also, you should keep in mind that because car title lenders are in a different category than credit card companies or banks, they are not subject to usury laws, which means they are able to charge much higher interest. Never take out an expensive loan if you cannot repay it within 30 days.
Penalties for late payments or no payments at all
Could one late payment cause your car to be taken away? Are additional fees assessed for late payments or does the loan’s interest rate increase?
Are you required to go through mediation, or can you take the loan company to court if it becomes necessary at some point?
The answer is yes, you can, though you may need to pay a prepayment penalty if you decide to settle the loan ahead of time. However, it’s still a case-by-case basis, because some lending companies don’t charge an additional fee for early payments. Again, It’s all in the fine print, so make sure that you read and understand the terms before signing the agreement. If there are any areas that are not clear to you, do not hesitate to have them clarified with the lending company.
Getting an auto title loan is easy, fast and convenient. If you need money right away, this type of loan will definitely work to your advantage and it doesn’t even require credit checks, so you can qualify with no problem.
The most obvious risk with is, of course, losing your car. More so, they may come at a high-interest rate, so make sure to take time in comparison-shopping.
If you become delinquent and you do not contact the lender, the lending company will assume full ownership of your car.
However, you can still try to negotiate with your lending company if you think you can’t pay on time. Remember, lenders are more keen on getting their money back than acquiring your car and selling it, so they are usually willing to exercise forbearance and sit down and discuss different options with you to discharge your debt.
As with any type of loan, it’s important to evaluate the alternatives you may have for acquiring the amount of money you need. Compare the interest rates and penalties of other loan options that may be available to you, such as:
If you need money in a pinch, make sure you compare the rate on your credit cards with that of a car title loan. If your credit card doesn’t have a high enough limit to cover the money you need, call your credit card company and ask for a higher limit. Make sure to compare the rate.
Emergency work loans
Your company may have an emergency loan program available to help employees with short-term financial binds. Programs vary from employer to employer, but the loan may be interest-free or have a low-interest rate set by your employer.
If you are about to borrow money because of an emergency situation, such as needing money to pay your utility bill or rent, see if the payee (your utility company or landlord) will give you a payment extension. A 30-day payment extension on your utility bill or a five-day extension on your rent could save you from spending hefty interest on a car title loan.
Although payday loans can also charge very high-interest rates, you won’t end up losing your car if you break your contract through late or non-payment.
Personal loan from your bank
Banks usually offer personal loans with lower interest rates, but might not be better than your credit card rates. The benefit of a personal loan with a bank is that you can pay it back in a set time frame because there are a set number of months in which you have to pay back your loan.
Auto loans are a good way to get money when you need it on the double, but they’re not the only way. If you need a cash advance, do your research, look for other options, such as credit cards, friends and family, personal loans, payment extensions, payday loans, workplace emergency loans and selling items you no longer need or use.
Complete an application form
You will usually be required to prove two things when applying:
1. That you have income – full-time employment is not always a requirement. Some title loan lenders will provide loans to people on disability or those who are unemployed.
2. That you own your vehicle – lenders cannot usually loan to individuals who are still making payments on their vehicle.
Speak with us
Speak to one of our representatives
Once you have completed your online application form one of our representatives will be in touch to finalize the details of your loan. They can provide answers to any additional questions you may have before completing the application. All of the loan paperwork will be made available online, including details on repaying your loan, late fees and interest. You won’t even have to leave your home or use a fax machine to complete these forms!
Provide the vehicle title
After the application process is complete, the representative will arrange for a messenger to meet you, take pictures of your vehicle and collect the original vehicle title. This can all take place at your own home.
Once your application has been processed and the lender has received the car title, the agreed funds will be directly deposited into your bank account. The process can be completed within a couple of days, depending on how quickly a messenger can meet with you.
You can have the cash you need in less than two days without setting foot outside your front door. You will normally be expected to pay back your auto title loan to coincide with your next payday. However, the exact conditions will depend on the amount of the loan and the frequency of your paychecks. You will be given your personalized repayment schedule prior to signing the agreement.
Complete our online application form or contact our toll-free number to see if you are eligible for a title loan today!