Title Loans Clovis, NM
Your vehicle is one of your most valuable possessions because of its function. Getting to work and back home, dropping the kids off at school, running errands and just enjoying a leisurely drive are all part of the duties of your car.
Other types of vehicles, such a motorcycles and boats, don’t have the same exact duties, but they all serve very important functions. Why not let them help you in a way you may not have considered. Your vehicle is the key to increasing your cash flow.
A Vehicle Gets You a Title Loan
Because it has value, your vehicle can be used to secure a title loan. Title loans in Clovis, NM are personal loans designed to help people who have a temporary money problem. Loan amounts vary but are all based on the equity in the vehicle used as collateral.
Title Loans Clovis
In order to apply for Clovis title loans, you must be at least 18 years old, own a vehicle with no liens against it and have a source of income. The income could come from a job or another source, such as disability or retirement.
Title Loans Clovis Application
Convenience and fast is how to describe cash loans on car titles. It only takes a few minutes to apply by supplying the most basic information about you and your vehicle. Provide your name, email, zip code and phone number, as well as the make, model, mileage, style and year of your car.
That’s all Velocity Cash needs to give you a loan quote. We follow up with a phone call to get more information, such as your source of income, and to set up a payment plan.
Applicants bring their collateral vehicle into one of our locations for a quick inspection of its condition, you give a Velocity Cash agent your car title and sign some loan documents, and then you get the cash.
Title Loans No Insurance
Some states and some lenders require auto insurance if the title loan is over a certain amount. For applicants who want title loans with no insurance, they may be able to get coverage through the lender or through an online agency in order to meet loan qualifications to borrow against their car.
Sometimes the lender uses another vehicle as collateral that does not have an insurance requirement.
Louisiana Legal Information
Under New Mexico law, title loans can be no higher than $2,500. Lenders must be licensed and renew their license through the Director of Financial Institutions Division each year.
Title loans have no interest rate, monthly loan cost or term limit cap. Lenders may charge a five percent late fee for payment 10 days past due.
Benefits of a Clovis, NM Title Loan
- Lickety split is how fast title loans in Albuquerque, NM and Clovis happen. Title loan applications only have a few questions. The loan interview is actually just a short phone call. There is a quick car inspection and a few minutes to sign documents and turn over your title. All-in-all, the entire title loan process is usually completed in less than a day. Compare that to the time and resources need to get a bank loan, which can take weeks.
- There is no credit check because your loan is secured with your car. Unlike at a bank, bad credit is not a problem for title lenders because it isn’t even a consideration.
- Instead of being having to deal with the inconvenience of not having transportation, Velocity Cash lets you keep your car while you make loan payments.
- All we need to hold onto is your vehicle title.
- Interest rates from a title pawn calculator are competitive and usually are lower than interest rates on payday loans.