Title Loans Q and A-

March 29, 2009 - PRLog -- What are title loans?
They are secure loans based on the equity value of our client's vehicle. Customers still get to drive their car and also get the cash.

What is the qualifications for title loans?
   * Govt. issued photo ID
   * Free and Clean Title
   * Three references not related to you
   * Insurance (Arizona Only)
   * Social Security Card (or a Document on which your name and SSN both are listed)

How much can I borrow?
Clients can borrow as little as a couple hundred dollars and as much as $25,000,  depending on the state where the loan is processed.

I have two cars. Can I get one title loan based on both?
No. One title loan, one car, one person.

How much does my car have to be worth to qualify?
A car has to be worth at least $750 on the open market to qualify for title loans.  Customers will be asked about the current condition of the vehicle. The car needs to be running and in drivable condition, however, it can be in the shop in some cases. Previous clients have used title loans to pay a mechanics' bill. This way, they get their repairs even when the repair shop won't finance the bill.

Do you do motorcycle title loans?
Yes, but there are different conditions of which the underwriter will explain over the phone in the loan consultation process.

Do I have to have the car titled in the same state as where I live?
Yes. If clients are traveling out of state, they will need to sign the paperwork in the state of which they live.

Does my car need to be paid off?
Well that's a maybe. We can incorporate the last couple payments into title loans, but this is only done on newer cars for obvious reasons.

Do I need to have a good credit?
Not at all. That is one of the great things about title loans.  Many of our clients have little, bad or even no credit at all.

Do I need to be employed?
We are more concerned with our customers ability to pay title loans back, if there is legit proof of this then there isn't a problem. Customers can be self- employed, or even receive income from some source other than an employer.  We will require that a customer can show there is some income to cover the payments.

Can I be in retirement?
Yes. clients can even be on disability. The key issue is that they have a source of income to pay the loan.

Is there a pre-payment penalty?
None whatsoever, and this is a key reason why customers have used http://titleloansjackson.info in the past. Other title loan companies may not disclose this fact, and customers need to know because if they elect to pay the loan off early, the pre-payment penalty could be as much as the regular interest payment multiplied by the remaining life of the loan.

How fast does the process take to get the loan?
We can have a client pre-approved in a matter of minutes. Then the paperwork is about 15 minutes of time. Of course, customers should plan on spending some time picking up title loans from one of our store locations.

Do I have full use of the vehicle?
100% yes. We do not hold our customer's vehicle at all.

Do I need a bank account for a loan?
No. People confuse title loans with payday loans which does require this, but we do not require a bank account at all.

I am concerned about putting my information on the http://titleloansJackson.info site? How do I know my information is safe with the online application?
We respect our clients interest in confidentiality. We care a great deal about their privacy. Clients should know that we will never sell or distribute any information given to us to anyone other than our direct lenders. We will not do business with lenders that would sell or share our customers' information with anyone other than themselves.

Additionally, our customer's information is safe because we do not distribute private information to multiple lenders, only one at a time based upon the individuals permission.  Sometimes the first lender was not the title loans company the individual wanted. We will then take the information and send it to another lender but only upon the condition stated in the previous sentence.

What factors do you use to determine the value of the vehicle?
We use the standard and the enhanced information. The standard information is the vehicle mileage, year, make and model but we go further with our enhanced process and add to it the color of the vehicle, the condition, the edition of the model, the engine size and the options that the vehicle has installed like a sunroof or if it has leather seats. The more information we receive about the vehicle the better.  We can give in title loans to the max - maxcash baby!

What if I lost my title, what do I do?
Clients will need to apply at the Secretary of State, DMV, or Drivers' License Bureau for a duplicate title. There are exceptions to this rule so contact us of the situation and we'll help work title loans through.

What if the vehicle title is in someone else's name?
If it is a spouse then whomever the title name is will have to sign the title loan documents but if it is someone that the customer doesn't know or a friend, then that will not work.  We DO NOT work with car thieves or condone such behavior!

When do I get my title back?
Our customers will get a release of the lien upon paying off the title loan and can then attach this to the title or send it in to the their states drivers license bureau to have a fresh title without us on it.

Will my car be taken from me?
This is a great question so let's discuss it openly. The fact is customers are using their vehicles to get title loans. By doing this, they are telling us that should they not pay their title loan, we can get the vehicle from them and put it on sale.  Doing so, allows us to pay off delinquent title loans.  We then give customers the remaining proceeds if any.  This IS NOT something we like doing and it is only used as a very last resort.  Not only is it very expensive to do this, but we lose a customer for life.  It is the only way to prevent people from taking advantage of our business.

We also know that we will lose money when we auction it off and the end result is no one wins! We will do whatever we can to make sure that our customers can pay their title loans and hope they will, some day, return as happy customers. We benefit from word-of-mouth business and to do this we have to lend responsibly and we recommend that our customers do the same.

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Offering Title Loans in Chicago Illinois, Tampa Florida, Phoenix Arizona, Salt Lake City Utah, Las Vegas Nevada, Reno Nevada, Albuquerque New Mexico, and now all of California. In California, we offer title loans to cities like Los Angeles, San Diego, San Jose, San Francisco, Long Beach, Fresno, Sacramento, Oakland, Santa Ana, Anaheim,
Bakersfield, Riverside, Stockton, Chula Vista, Fremont, Modesto, Irvine, Glendale, San Bernardino, Huntington Beach, Oxnard, Fontana, Moreno Valley, Oceanside, Sant Clarita, Rancho Cucamonga, Garden Grove, Pomona, Santa Rosa, Salinas, Hayward, Torrance, Pasadena, Palmdale, Corona, Lancaster, Escondido, Orange, Elk Grove, Sunnyvale, Fullerton, Thousand Oaks, El Monte, Simi Valley, Concord, Visalia, Vallejo, Inglewood, Santa Clara, Costa Mesa, Downey, West Covina, Norwalk, Roseville, San Buenaventura, Burbank, Victorville, Fairfield, Berkeley, Carlsbad, South Gate, and Murrieta.

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