Car Title Loans in Thousand Oaks

Car title Loan FAQ

How do title loans work?

A lot of people are familiar with refinancing their home and don't give it a second thought but have you ever thought about refinancing your car? You can take the money you already have in it (auto equity loan) and use it for a fresh car title loan. Simply stated, a car title loan allows you to use your paid off car, van or pick-up truck and get a loan by using it to secure the loan.

How old do you have to be to get a title loan?

18 years old

How do interest rates work on title loans?

First you need to know that these are high interest rate loans. What that means is that these loans are not unsecured low interest rate bank loans. They do not compound the interest monthly, they compound it daily but they do give you a monthly interest rate. Now let's not get too scared. An example of this is a $3000 loan at 8%. Your monthly interest on that amount would be $240. Not too bad actually. If you had $5000 borrowed it would be only $375 a month.

How long do I have to pay off the loan?

We give you up to 3 years to pay it off.  

I only need the loan for a month or so. Does that change anything?

Actually although we allow a longer period of time, a lot of people only take the loan for a month or so. There is no prepayment penalty to do this.  

How easy is it to get a title loan?

By allowing us to be placed as a lien holder on your title, you lower the risk substantially. By doing this, we drop the bank rules and open the doors so qualifying is really just a matter of seeing of you have enough value in your car and if you have the means to make a payment.

What documents are needed?

• Copy of your drivers license
• Original Title
• Insurance
• References
• Proof of residence (verify where you live)
• Proof that you have some income of at least $1500 a month 

Do I have to have a job?

You need to prove you can pay this back and your income must be at least $1500 a month.  

What about my credit? It’s not that great. I need a bad credit personal loan now.

If this was an unsecured line, you would have to have a very high credit score. Because it is not, you have nothing to worry about.  

Does my car need to be paid off?

We will pay off the car if it has a few payments left but we have to see the value of the car right now and how much is outstanding to make that decision.

I am behind on my bills. My mortgage is behind and more. Does this hurt me?

No. You can still get a title loan. People get these loans to pay bills off but we really do not care what you plan to do with the money.

I have a car title loan with someone else. Can you help with this?

Yeppers. Just ask. A lot of people use our company to pay off a bad interest rate plan from someone else.

Do I have to have a bank account?

If you are self employed, then yes. Otherwise no.

Do I have to mess with the DMV?

No, we will.