Did you know that Los Angeles is the most popular place for car title loans yet most people do not know how to get one? This article should help because I am going to walk you step by step through the process from “interest” to “money in your pocket”
For this purpose, I am going to use LoanMart which happens to be the biggest car title loan lender in LA. I figure I will use them because you probably will (as most people do) but the important thing is that pretty much all lenders have the same process.
THE ULTIMATE STEP BY STEP GUIDE TO A CAR TITLE LOAN IN LOS ANGELES
STEP ONE:
- You need a loan and you figure a car title loan will work for you.
STEP TWO:
- You found this site somehow. Good for you. I’m really happy you did.
STEP THREE:
- Fill out the online information request form on this site. What happens next is behind the scenes and it takes just a few minutes. Their reps see it and then pull up the cars value. Now they have the amount they can loan you. They also may figure out that your car may not have value and they will let you know. Either way, you get contacted.
STEP FOUR:
- Talk with your new loan agent. They will tell you about the amount you can borrow and also go over the title loan interest rate and the documents they will need from you.
STEP FIVE:
- Gather up the documents. Don’t worry, you have them sitting at home. They are not something that is crazy to find. You have a piece of mail in your name or a utility bill? See… simple stuff.
STEP SIX:
- Take your cell phone camera and take a picture of the documents we tell you we will need. Text them to 855-561-5626 or the number your representative said was their direct number. Ask your rep if they have an email you can email the documents and avoid the whole faxing or texting thing all together.
STEP SEVEN:
- Wait. It takes about an hour once the documents are received to process the loan. The rep will call you back.
STEP EIGHT:
- The rep will either send you to one of the broker locations (and there are thousands) – that simple. The rep will take pictures of your car including your odometer so try to get that right when you tell the agent your mileage. It won’t be exact because you are using the car of course but be close.
STEP NINE:
- Now that you have your money and you will also have the ways you can make payments, you are all set. They will get you hooked up with an online account to make payments or several other ways to do it.
STEP TEN:
- Either make payments fast or slow. Either way you have no prepayment penalty so if you want to save a bunch of money then pay it back fast.
That’s it. Looks like a lot of steps but getting a car title loan in Los Angeles ca just got easier and now you know exactly what will happen.