How to Find the Best Pink Slip Loan Lenders in California
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How to Find the Best Pink Slip Loan Lenders in California

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Pink slip loans are known as secured short term loans that can be useful in emergencies to get cash by giving your car title as the collateral. There are number of pink slip loans lenders in California state including Los Angeles, San Diego that provide online title loans. However, it is not easy to find a good and trusted pink slip loan lender to get your loan. This article will guide you how to find the best pink slip loans lenders in California which presented by http://pinkslip.loans

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Published 09 April 2017
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Language English
How to Find the Best Pink Slip Loan Lenders in California
Pink slip loans or car title loans are one of quickest way to get cash in emergency situations by providing your pink slip to a trusted title loans lender. We all know that sometimes it is really difficult to get a title loan from a bank since there are lot of documentation process and credit checks are taking placed in order to approve for a title loan. Therefore people tend to choose a pink slip loan lender instead of a bank. There are lot of advantages as well as disadvantages of choosing a pink slip loan lender over a bank. The biggest advantage is you will be able to get your cash very quickly with less documentation. Further, title loans lenders usually do not do a credit check. Instead they evaluate the equity value of your car to determine the loan amount they are going to approve. One of disadvantage is that they charge a higher interest rate to compensate the risk that they are taking by lending money to you. The loan amount that they approve could be significantly lower than the current equity value of your vehicle is another disadvantage.
There are lot of pink slip loans lenders offering their services to the residents in California. Therefore it is vital to identify who is the best pink slip loans lender that suits you to get your title loan. Different lenders have different rules and policies. Therefore it is worth to identify their rules, policies as well as the interest rates before you choose the most suitable title loan lender for you. According to the California state law, the minimum pink slip loan amount that can be lent by a lender is $2500 to avoid the small loan cap which means you should be able to get at least $2500 as a title loan for your pink slip. If you are getting apink slip loan in Los Angeleswhich is the most populous city in California this is applicable. This is a great measure to find a good and reliable title loan lender in California who adhere to the state law.
A lender can charge unlimited interest rate on the loans of $2500 or more which means there is no cap on the interest rate for car title loans in California at the moment. However, the lender must inform the exact interest rate that they are going to charge from the borrower. Typically this APR is 30% which is the cap charged for loans less than $2500. But this interest rate can be
much higher than this amount depending on several factors. Your credit score, the loan amount and the equity value of the car as well as the lender you choose. Therefore, it is recommend to find thebest pink slip loan lendersin order to get the least interest rate for your car title loan in California.
Let’s take an example. If you are a resident in San Diego, then it is important to choose the most suitable lender who offerpink slip loans in San Diegoin order get the least interest rate as well as better terms and conditions. In order to find to such a car title loans lender, first you have to make sure whether that lender provide minimum loan amount of $2500 for your car title. Next thing is they must clearly mention the interest rate that they charge for the loan amount that they grant. Then you can go through the loan agreement and if you satisfy with the terms and conditions in the agreement you can proceed with the loan otherwise you can deny the loan.
Most of the lenders in California offer online pink slip loans and hence you can easily apply for a title loan just by submitting a simple online application. Some of them offer, completely online title online loan with no store visit which means you can simply get your pink slip loan to your bank without going to any store. With this option, lender usually ask to send several pictures of your car in order to verify whether the car is in good condition and to evaluate the equity value of the car. This feature may not available for customers.
If you want to know more details about online pink slip loans and apply for an online pink slip loan, visithttp://pinkslip.loans/