These loans are generally short term loans and can carry a higher interest rate than other types of loans. The reason is because since you are using your car as collateral for the loan, some lenders do not need to do a credit check on you. As long as you hold a clear title to your car (or truck or SUV) and the wholesale value is at least $4,000, you should be able to get a loan.

One of the many benefits of a title loan is that while you have pledged the car as collateral for the loan, you are allowed to still keep the car and use it while making payments. Compare that to using say a pawn shop where you would have to surrender your car and be with out it. Also since this is a secured loan, your interest rate will lower than an unsecured loan, plus you may have as long as 36 months to pay it off. All while still driving and enjoying your car.

Often times you don’t even have to drive to the office to obtain a loan. Some firms can do it all online or by phone as long as you provide the proper documentation (I’ll discuss that later in this article.

Even if you have bad credit you can still be approved for car title loans as long as you have a job (in fact some lenders will accept disability payments as income) and own your car.

Here is all you need to obtain a loan:

-Clear car title—your title must show it free and clear of any loans on it.
-A valid drivers license
-Social security card
-Proof of auto insurance
-In some cases a recent pay stub

It’s that simple.

So here it is, if you have a job and own your car you will be able to get a quick and easy loan on your car. You can usually get a loan in under an hour (some offer in 15 minutes). That’s much faster then going to a bank and the rates are less than personal loans.

If you need cash quickly to help you get over some recent unexpected bills, or thinking about the holidays coming up, now is the time to get a car title loan and getthe money you deserve.

·    You must have proof of residency. This could be a bill form your electric company, water company, telephone bill etc.
·    Proof of income. Usually this will be a pay stub or 2 to show you have an on going income. Some lenders will accept disability payments or social security payment as income. You just need enough that you can pay the loan and still have money to live on.
·     Drivers license or a state issued ID card.
·    A clear car title. Proof that you car is free and clear of any liens on it. Depending on the value of you car, some lenders may lend you money even if you have a loan on it already.

After you have submitted the information, the lender needs to appraise your car. You can get an idea of the value of your car by checking it out on Kelly’s Blue Book.

When the lender inspects your car.

The lender will give a quick appraisal of the car based on its appearance.

·    Exterior- How is the paint on the car? Is it in good condition, been waxed and taken care of? Is it worn with paint chips and road nicks in it? How is the glass on the car? Does it have curbside appeal when you look at it?

·    Interior-How does the interior look? Any rips in the seats? Condition of the carpet? Stains? The lender will also check to see if the lights work, radio and air conditioning are properly working and of course the odometer to check for the miles on the car.

·    Mechanical-This involves the lender starting the car and listening for any noises.

Obviously before bringing the car to the lender, give it a quick check to make sure its looks and sounds right. Bring it to a car wash or do it yourself to really make the car stand out and to add value to it.

After the lender has inspected your car and checked the above documents, they should be able to make a quick decision on your car title loan and hopefully you can be driving out with your money.

You now have to information to get your loan today.

Now what?

Getting your car ready for the lender

The value of your car will help determine how much of a loan you can get. If you can increase the value of your car, you can possibly get a larger loan.

How to increase the value of your car to your lender.

• Since the lender is using your car as collateral for the loan, you will want it looking its best, right? If the lender sees fast food wrappers piling up in the back seat, he’s not going to think much of your car or you perhaps.

• CLEAN YOUR CAR. Sounds obvious right? You’d be surprised. I’m not suggesting you go a spend money on getting the car detailed, but take the time to wash it or maybe bring it to the car wash. Make the exterior sparkle. Make sure the tires are clean and make the wheels shine. Fix any molding that may have come loose while driving. Have your license plate screwed on correctly and not hanging.

• Clean the interior. Yes get rid of the fast food wrappers and cups. Give a good cleaning to the dashboard and windows. Empty the ashtray. Don’t have your CD’s lying all over the car. Clean the glove box. Vacuum the seats and carpets well. If necessary, hang an air freshener in the car.

• Make sure things are working. I’m talking about the radio and CD player. Windshield wipers. Air conditioning. All of your lights. The horn. Make the lender believe you are giving him great collateral.

Now that you car is looking sharp, let’s get the paper work ready for the lender.

What documents you will need to get a car title loan.

• Clear title. Most lenders want to see your car title free and clear of any loans.

• Car insurance. You should have your policy up to date.

• A job. Lenders will want to see a pay stub or 2 to show you have an income to pay for the loan

If you have these items all taken care of, then getting that loan should be that much easier to get.

There you have it. Now its up to you to start today to get a car title loan or pink slip loans.

What is a car title loan? It is simply a loan where if you own you car free and clear (no loans against it) you can put it up for collateral and get a loan for up to half its value. Best of all you can still drive and use your car as you pay the loan off!

Car title loans are relatively easy to get. As long as you have a job, a driver’s license and a clear title and your car is worth over $4000, you should be able to qualify.

How a title loan can help your credit score.

First if you have outstanding debts with other creditors, you can use this loan to pay them off. This way those loans are satisfied and can be report to the credit bureaus as paid.

You can use the loan to help budget your monthly expenses and to get your spending under control.

If you have a bad borrowing history, you can change that by showing you are responsible by paying a title loan promptly and even paying it off ahead of time. Auto title loans are a secured loan for the lender because he accepts your car as collateral for the loan. This helps make the interest rate you pay lower than a payday loan or a personal loan. Both have no collateral and are subject to higher interest rates.

When using title loans to improve your credit score, it is very important to remember that you need to make payments consistently and on time. If you are late with your payments, it may increase your interest rate, subject you to additional fees are even repossession of your car.

Summing up, getting a title loan can help correct a bad credit history. By getting this loan and paying it off on time, it shows lenders that you are a good credit risk and could possible help improve your credit score.

Take action now and start improving your credit today.