You’ve done your research and you’re now ready to obtain a car title loan. What do we do from here?
First, get your car prepared for the lender you have chosen. It is the total value of the car that will determine how much this loan will be worth. The higher value the car, the subsequent higher value of your loan. How then do you increase the value of your car, without breaking your wallet?
Remember, you are using your car as collateral to the lender. Impress the lender by making your asset shine.
The first and perhaps easiest step to take is to properly clean your car. This is a task that will not take much time to complete, and you can save money by doing it yourself, rather than paying someone else to do the job. Pick up the crumpled receipts and wrappers from the floor. Take a moment to vacuum your rugs. Run a paper towel with some Windex on the steering wheel, gear shifter, center console, and any other exposed surfaces in the car where dust collects. Pretend you’re preparing the car to go out on a date. You’ll notice a difference already.
From there, spend the time to clean the exterior of the car as well. Something as simple as using a hose with a sponge and soap will be sufficient. Use an approved cleaner to wipe off any presents left behind from the local birds. You should also take this time to ensure that your tires are properly inflated and clean. Touch up your rims or wheel covers to make them look presentable. Remember, your car’s value will increase or decrease based on how it looks. Do yourself the favor and put your best foot forward.
From here, the only step left is to ensure that all relevant paperwork is in proper order. These three things are a must: a clear title, proper insurance, and a secured job. A clear title means that there are no loans or liens already against the car. If action has already been taken against the car, the likelihood of securing this car title loan plummets. In most states, insurance is already required for the car to be legal to drive, so this shouldn’t be a problem. Lastly, a secured job shows the lender that you have the means to pay off the loan.
By taking these steps, securing a car title loan will not be difficult. Loans can be applied for in person with the lender, while a growing number of loans are submitted online using pictures and relevant information on the car. By following these steps, your car will pass the review and you can obtain your pink slip loan.
