Title Loans in Spokane Valley, Washington – Get Quick Cash Now!
There are many times in life when it can get quite unpredictable. During these times you may need extra money. Where can I get fast cash in Spokane, WA? Have you tried a car title loan?
Car title loans can offer you a way to get quick cash with little credit checks required while getting approved fast.
Today, let’s show you how to avail of car title loans in Spokane Valley, Washington!
What You Need to Know About Car Title Loans
Car title loans are also known as auto title loans or title pawns. They are loans where you use your car title as collateral for the loan you want to take out.
In other words, the lenders will partially own your car and use that as collateral.
“That sounds very similar to pawning, doesn’t it?” They indeed sound similar. So much that auto title loans are also sometimes called title pawns. However, they are different.
You still drive and use your car when you take out an auto title loan, even though you already have the cash you need.
Lenders will only take away your driving privileges if you can’t pay off the loan.
Auto Title Loans: Why Should I Be Interested In One?
Wouldn’t run-of-the-mill payday loans be enough for my financial needs? Why should I be applying for car title loans in Washinton?
Here are a few of the reasons why you should consider a title loan:
#1 Flexible Payment Plans
Are you in need of money as soon as possible? Are you unsure of when you can pay off a loan?
Car title loans can have flexible payment plans. You can negotiate when would be the best time to pay off your car title loans in Washington.
Do you have the cash to pay it off faster than you expected?
You can talk to your agent about the terms so you can pay when it is most convenient. You can customize a plan that makes the payment process easy and stress-free.
#2 Cash As Soon As You Need It
Are you in need of cash on the double?
Title loans in Spokane Valley, Washington, can get you what you need. The loan process will only take at most a business day.
Loan processing in Washington is fast, and you can get your money in less than a day!
You no longer need to wait anxiously whether you got final approval on your loans. A title loan is a great idea if you require money right away.
#3 No Credit Checks! (Usually)
Availing of a run-of-the-mill bank loan in Washington would require the borrower to have a good credit history.
If you are applying for title loans in Spokane, the title loan companies don’t consider poor credit the biggest obstacle in the application process.
Be that as it may, that doesn’t guarantee that they won’t check.
Companies that offer title loan applications may check your financial information during your approval process.
Auto title loans give an option for people with less than perfect credit history to get a loan.
But potential borrowers with good financial standing are more likely to get better deals or better interest rates from lenders than those with bad credit.
Required Documents To Bring To A Car Title Loan Application
Requirements for each state may differ. What you need may be different for Spokane Valley, Washington, compared to California.
So you should first contact your lender yourself to determine what basic documents you need if you plan to visit your loan expert.
The necessary documents for residents of Spokane Valley, Washington, are as follows:
1. Valid Government Issued ID
In Spokane Valley, WA, you need to be at least 18 years old to legally avail of an auto title loan.
And so, to prove that you are 18 or up, a valid ID is required when you request a loan in Washington.
You’ll need to provide a government-issued ID like a driver’s license, passport, etc., when you come in to apply for auto title loans in Spokane Valley, WA.
2. Pink Slip
The vehicle title or a pink slip is an essential part of the car title loan process in Washington.
If you’re looking to take out title loans in Washington, you need to prove to the lenders that you are the actual owner of said vehicle.
Along with the title, there’s a possibility that they’ll also ask for insurance papers during the application. It’s better to be safe than sorry, so bring those along.
3. The Car Itself
Along with the title, the car itself is an essential part of the process.
Some lenders need to confirm the condition of your car and do a quick inspection of it.
Making your car look spotless and in top-notch shape is a good idea.
4. Income Proof
Customers need to demonstrate ability to pay off the loan they take out.
It’s possible to get approved without proof of income. However, in its place, you have to demonstrate that you have the money to repay it other than a steady source of money.
Documents that can replace employment earnings are:
- Bank statements
- Retirement checks
- Social security
- Disability payments
5. Show That You Reside In Spokane Valley, Washington
This is the last requirement for a title loan in Washington.
You need to give them documents that prove that you currently reside in Washington. Title loans are illegal in certain states, and lenders need to know if you qualify for a loan.
They need to know you don’t live in California or something.
Here are some ways borrowers can show they reside in the general vicinity of Spokane Valley, Washington:
- Lease agreement
- Phone bill
- Utility expenses documents
Spokane, WA Title Loans: Follow Along With Guide
Title loans application in Spokane Valley, WA, is fairly simple. Follow the steps and procedures, and you can qualify for a title loan in a blink of an eye!
Below we’ll show you the step-by-step procedure:
Step 1: Complete Your Application Form
A self-explanatory step: fill out the information they as for.
Make sure the information you write is correct. Some lenders have an option to apply online for a loan, so check if you can if that’s more convenient.
In this part, you can talk about the interest rates, scheduled monthly payments, pre-payment penalties, loan amount, and other fees you may want to know about with the loan agent.
Step 2: Turn In Your Requirements
Review the requirements to get a loan approved in Spokane, WA.
Have these complete documents on hand:
- Identification documents
- Title for the vehicle
- The vehicle itself
- Proof of income
Once you’ve submitted the items, it’s just waiting to get approved.
The money you’ll get out of your loan will depend on the equity value of your car, your credit, what was agreed upon with the agent, and your capacity to repay the loan.
After that is done, move on to the next step.
Step 3: Collect Your Funds
Now, this is where you get your money!
If all goes well, you can now get your loan proceeds.
You can use the money for emergencies, household purposes, or paying a debt, and it’s up to you. Although, it’s intended primarily for personal purposes.
Just be sure you can make payments and stick to the terms you discussed
Use your newly acquired cash wisely!
But What About Online Title Loans?
There are title loan companies in Spokane Valley that offer online title loans.
For most people, it will be way easier to apply online. You need to check with your specific lenders if they offer online services through their website.
Here are the requirements:
- Auto Title
- Photos of the vehicle
- Photo of ID: Government-issued IDs like a driver’s license, passport, etc.
- Proof of income: Bank account statements, stubs, etc.
- Address of residence: Utility expenses, phone bill, house title, etc.
An online title loan is great if you want instant online cash, as some offer a direct deposit to your bank account.
Frequently Asked Questions
There is a lot of information regarding title loan applications in Spokane Valley, WA.
Below are some answers to some frequently asked questions for Spokane Valley, Washington residents:
How Long Until I Get Approval?
Getting your title loan in Spokane Valley, WA, should take a business day.
Before your final approval, there is conditional approval and pending review, but it shouldn’t take too long.
The funding time also depends on a few factors, including credit history, what you discussed with your agent, etc.
How Much Cash Can I Get?
With a vehicle title loan in Spokane Valley, Washington, the amount of money you can receive is dependent on the value of the car you use, the vehicle year, how well maintained the car is, etc.
If approved, you can get a minimum loan amount of $2,500 for your loan proceeds in Spokane Valley. You can get more depending on a few factors like your auto equity.
Can I Use a Different Vehicle as Assurance?
You can use a different vehicle. Other people have used motorcycles for your assurance in Spokane, Washington.
You can try to get other vehicles, such as boats, trucks, or maybe even planes.
However, you should check with the lender if you are providing acceptable property.
You Can Now Get a Title Loan in Spokane Valley Washington
You can now get a title loan in Spokane Valley, Washington, worry-free!
Double-check the payment details, fees, pre-payment penalties, etc.
NOTE: Getting a title loan in Spokane, WA is very accessible and simple; however, you need to remember to pay your loan off. Keep in mind your payment agreements and stick to them.
You are well equipped with the know-how required to ensure a successful process when taking out a title loan!