A pink slip loan also called an auto or car title loan, is a way for you to get cash instantly. You can diffuse the equity in a vehicle, be it a car, motorcycle, or truck. Our friendly staff at Advantage Finance can help you achieve a pink slip loan quickly and easily.
How to Apply
This form of funding is often much quicker and easier than going to your bank. To apply to lend an auto pink slip loan, you will need;
- Title to your vehicle
- Proof of income
- government-issued ID
Pink Slip Loans Near Me
If you are considering taking out a car collateral loan or an auto title loan, you are probably thinking most about the possible risks involved with this loan. If you could, you might even consider going for a less risky unsecured personal loan. Considering that you are looking for a car collateral loan, it probably means that you don’t have a good credit score enough to get approved for more traditional unsecured loans. Come visit one of our locations nearest to you.
Having bad credit is a frustrating condition to find yourself in. It hurts you in two ways. First off, it makes it difficult to secure credit cards, mortgages, new leases, and more. Secondly, if you are not able to borrow money in those traditional ways makes it harder for you to ever improve your credit score. Luckily, car collateral loans can be a useful source of cash.
Car Collateral Loan
The basics of a pink slip or car collateral loan are very simple. A collateral loan is where the loan is secured against the title. To secure a loan against your vehicle, you need to have equity in your car. There are cases where some lenders do allow you to borrow on a car that you are still paying off, but it happens rarely.
Why is it called a car collateral loan or a pink slip?
This is because if you are unable to pay back your loan within the agreed-upon payment term, the ownership of your car will transfer over from you to your lender.
Now that you know how they work, let us go over what you need to get a loan against your car.
What you will need to get a car collateral loan.
You may be asked to provide this information to secure a loan:
- Your age must be at least 18 or more.
- You must have a government-issued ID.
- There must be no liens on the vehicle you are borrowing the loan against.
- You must be the owner of the vehicle.
- You must have the original title of the vehicle in your hand. However, if you have lost your pinks slip, you can still get a title loan.
- No Credit Check is needed.
Advantage Finance has title loan shops near your area in Texas that can provide you with the fund you need. All that you need to do is fill in the application form to begin the process. Good Luck!