San Diego is one of famous cities of California, United States of America. Car title loan is common term in San Diego as most of the people have a car and they are also curious about such things. Car title loans San Diego are nothing other than simple loans with car title as security like house as security in bank loan. It is mostly taken at emergency or urgent need of money. Thus, necessary requirements to get car title loan should always be simple but important documents that we mostly carry with us. From cities to cities within California the requirements may vary slightly. In case of San Diego the requirement to get a car, title loan is very simple. This article focuses on requirements to get car title loans San Diego.
Requirements to get car title loan in San Diego
To get a car title loan it is obvious that you need to have a car in good condition. There are requirements to get car title loans San Diego and they are listed below.
- First of all, to get car title loan in San Diego, you need to fill up an application form visiting the lender’s office, online or by phone calls. In the application you need to provide all the necessary details about you.
- Proof of residence is important and it is recommended that you provide them your proof of being resident of San Diego. The proof can be electricity or telephone bill of your house.
- Proof of income is another important document you should provide to the lender’s office. Though you have bad credits, if you can show proof of your income the company won’t hesitate to provide you the money.
- The main requirement is title of your vehicle. Thus, the company will make quick evaluation of your car’s value at present value and they will at maximum provide you 50% of the present value as the car title loan. Other 50% is kept for security, so that in case you cannot repay the interest the company can collect pit by selling the vehicle in auction.
Thus, if you are in thought of borrowing some amount of money as car title loan in San Diego, then please check for these requirements to get car title loans San Diego, so that it would be easier for you to process the loan.
Repayment options in San Diego
Since it is a loan it is obvious that you have to repay it, either you are in San Diego or Bakersfield. Generally, such loans are provided for a period of about one months or even more. Then after you have to repay the amount with interest. If you are unable to repay the amount, the lender will take your car for auction to raise money that you borrowed from him as a loan plus the interest it has built.
But San Diego, being a hub of business, I think people have no problem with repayment. But it would be sound if you take a loan that you can pay easily rather than huge amount of money that can bring you a lot of trouble.