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How it works ?

Q. How do I get started?

A. Click Easy Start or call us 1-800-910-6901.

Q. What is a Car Title Loan?

A. A Car Title Loan is a secured loan based on the equity value of your vehicle.

Q. What is the qualifications for our Friendly car title loan?

A. You need to have:

  • California Car Title (Pink Slip)
  • Picture ID
  • Proof Of Address
  • Proof Of Income
Q. I have two cars. Can I get one loan based on both?

A. No. One loan, one car, one person.

Q. Does my car need to be paid off?

A. Well that's a maybe. We can incorporate the last couple payments into a car title loan but this is only done on newer cars.

Q. Do I need to have a good credit?

A. Not at all. That is one of the great things about a car title loan. you can have little, bad or even no credit at all.

Q. I've had a bankruptcy in the past. Can I still get a loan with you?

A. Absolutely. Please do keep in mind that your bankruptcy must be discharged. We do not make loan decisions on why you had a bankruptcy whether it is medical, divorce or any other financial situation. We can help you as soon as your bankruptcy is discharged.

Q. Does my good credit help me to get discount interest rate?

A. In some cases it's possible to have such discount.

Q. Does car title loan help me raise my credit score?

A. Yes, we can help you make good credit!

Q. Do I need to be employed?

A. We are more concerned about the fact that you have a way to pay the loan then the question if you are employed. You can be self-employed, or even receive income from some source other than an employer but we will require that you show there is some income to cover the payments.

Q. Can I be in retirement?

A. Yes. You can even be on disability. The key issue is that you have a source of income to pay the loan.

Q. Is there a pre-payment penalty?

A. None whatsoever, and this is a key reason why you should use us. Other companies may not disclose this fact, and you need to know because if you elect to pay the loan off early, the pre-payment penalty could be as much as your regular interest payment multiplied by the remaining life of the loan.

Q. How fast does the process take to get the loan?

A. We will have you pre-approved in a matter of minutes. Then the paperwork is about 15 minutes of your time. Of course, plan on spending some time picking up your money.

Q. Do I have full use of the vehicle?

A. 100% yes. We do not hold your vehicle at all.

Q. Do I need a bank account for a loan?

A. No. You may be thinking about a payday loan which does require this but we do not require a bank account at all.

Q. How do I make a payment?

A. You will be able to make payments on your auto equity loan via check. Ask us about alternative ways of payment.

Q. I am concerned about putting my information on your site? How do I know my information is safe?

A. We are like you on this issue. We care a great deal about your privacy. You should know that we will never sell or distribute any information you give us to anyone other than the direct lender. We will not do business with a lender that sells or shares your information with anyone other than themselves.

Additionally, your information is safe because we do not distribute your private information to multiple lenders, only one at a time based upon your okay that the first lender was not the car title loan company you wanted. We will then take the information and send it to another lender but only upon that condition.

Q. What factors do you use to determine the value of the vehicle?

A. 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.

Q. What if I lost my title, what do I do?

A. You will need to apply at the Secretary of State for a duplicate title. There are exceptions to this rule so let us know that this situation exists.

Q. What if the vehicle title is in someone else's name?

A. If it is a spouse then whomever the title name is will have to sign the loan documents but if it is someone you do not know or a friend, then that will not work.

Q. When do I get my title back?

A. You will get a release of the lien upon paying off the loan and you can then attach this to your title or send it in to the Secretary of State to have a fresh title without us on there.

Q. Will my car be taken from me?

A. This is a great question so let's discuss it openly. The fact is you are using your vehicle to get a loan. You are telling us that should you not pay the loan, that we can get the vehicle from you for sale so we can pay off the loan and give you the remaining proceeds if any. The fact is we dislike doing this and it us used as a very last resort because not only is it very expensive to do this but also we know that you will never want to be a customer again.

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 you can pay this loan and you will return as a happy customer. We want your word-of-mouth business and to do this we have to lend responsibly and you have to borrow the same.

© 2014 Spectrum Car Title Loans, all rights reserved.

Loans Made Pursuant to Department of Business Oversight California Finance Lenders Law License #603K126, Spectrum Funding, LLC.

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