Title Loans in Spokane: Get Fast Cash Now!
Are you in need of short-term cash loans?
For Washington residents, you’re in luck!
You can receive money extremely FAST matched with reasonable payment terms through the help of car title loans.
For as long as you have an acceptable property for collateral, in this case, a vehicle, the application process should take less than a day, or if you’re lucky, in a few hours!
Check out this read to know more about how you can qualify for car title loans in Spokane, WA.
What Is a Car Title Loan?
Car title loans, also known as auto title loans, are short-term financing solutions available to anyone who owns a vehicle.
In Spokane, WA, you can get a loan on your motorcycle, RV, truck, and other automobiles.
A lender will make credit decisions and approve loans.
Although not all lenders will check your credit history, knowing your capability to REPAY is still crucial for loan approval.
For a lender to consider your application, the loan money must be taken only for household purposes, such as utility bills, medical emergencies, rent, etc.
It is not to service student loans.
How Much Cash Can I Get From Auto Title Loans?
The loan amount you can get with title loans will depend on your vehicle’s current market value.
The minimum loan amount in Spokane Valley, Washington, is usually $500. These are lender-based decisions after the lender makes an assessment of your car.
To determine the equity left on your vehicle, a loan agent will ask for your vehicle year, make, model and mileage.
They will also consider modifications and improvements to your vehicle’s interior and exterior components, such as paint, accessories, materials, and so on.
If your vehicle is in good condition and has a reasonable amount of mileage, you can get MORE money out of your car. Remember to keep your car in good condition!
You can get up to 25% to 50% in cash on the same day of your title loan application.
Why Apply for Title Loans in Spokane, WA?
Title loans are for people who have been denied or rejected their loan because of bad credit.
Car title loans are popular among residents of Spokane Valley mainly because, unlike the traditional banks, you do not need to have the perfect credit history to apply.
Not yet convinced? Here are a few more reasons to get extra money through a title loan:
You can fill out the application form and submit documents online.
If you apply in the morning on a business day, you may receive money on that same day.
Superior Customer Service
If you have any questions about title loans in Spokane Valley, you can easily phone or e-mail the lender directly.
The inquiry process will address concerns on the interest rate, qualifications, and loan terms.
Convenient Loan Terms
Lenders will also consider your capacity to pay the loan money back and offer competitive interest rates and flexible loan terms.
Make sure to choose one that best suits your needs!
No Hidden Fees
Lenders are upfront when it comes to fees. This part of the agreement is drafted on the contract once your loan gets approved.
Unlike small business loans, most title loans do not incur pre-payment penalties. However, this will also depend on the lender.
Keep Your Car
A lender will only keep a hold of your clear vehicle title. This means you still get to keep driving your car while repaying the money you loaned.
Required Documents for Car Title Loans in Spokane, WA
Like with any loan, title loans have a set of requirements. Gather these documents for a smoother process!
First and foremost, to apply for a title loan, you need to submit your personal and contact information.
The basics should include your name, phone and mobile number, SSN, and e-mail address.
Title loan lenders also need you to submit a government or state-issued ID preferably bearing your photograph, such as your driver’s license, passport, or state ID.
These are all necessary to validate your true identity.
Depending on the lender, ADDITIONAL INFORMATION may be required.
Some title loan lending companies even ask for at least three character references. These can be personal, professional, or both.
Clear Vehicle Title
No title loan can be contracted without a vehicle title.
As this is the security a lender will require, they demand the vehicle title to be free of any lien.
The title must also only contain your name as full and sole owner.
Proof of Vehicle Insurance and Registration
For added assurance, title loan lenders will require you to provide your vehicle’s valid insurance and registration.
This is a crucial requirement to determine how much money you can get from a title loan.
If you are applying completely online, you need to submit CLEAR, RECENT photos of all four angles of your vehicle.
If the lending company prefers a physical inspection, you should choose a lender close to your residence for convenience.
Proof of Income
Proof of income will help lenders determine whether or not you are capable of repaying the loan.
You can submit pay stubs, pink slips, tax returns, bank statements, etc.
You don’t have to be fully employed. For as long as you receive some form of income or pension, that should be acceptable.
Proof of Spokane Residence
Of course, to apply for Spokane title loans, you have to RESIDE in Spokane! You will need to submit proof that you live in Spokane, Washington.
Billing statements or mail containing information about your address should be good.
Bank Account Information
Bank account details are not always needed to apply for title loans.
But if a lender asks for them, they usually check whether it is active within the past 60 days. If there are no recurring deposits, they might question your income.
Quick and Easy Steps to Apply for Title Loans
Lenders in the business of title loans are keen on loaning money fast and easily.
There is no need to line up for hours, file a ton of paperwork, or go through intense background checks. Get your money on the same day you applied!
Here are the steps you need to do.
Step One: Fill Out a Free Online Application Form
You can go through the whole loan process in the comfort of your home! You have the option to go through the inquiry process online, over the phone, or in-store.
If you want to save the hassle of going through Spokane Valley traffic, apply online
Step Two: Turn in Your Documents
It will take lesser time to finish the loan process if you have already prepared all the required documents in ADVANCE.
If you applied early on a business day in Spokane Valley, it is likely you can get your money within 24 hours.
Step Three: Collect Loan Proceeds
After the lender assesses your application, they may give conditional approval pending review of documentation.
Funding time is based on the period from final approval up to the moment you receive the loan proceeds.
Step Four: Make Payments on Time
To avoid the risk of repossession and paying high fees, you must follow the title loan terms you agreed upon with your lender.
Spokane Valley title loans are great quick fixes to your financial woes. But if mismanaged, you can fall deep in debt.
Or worse, lose ownership of our vehicle!
Have you got any more questions about Spokane Valley title loans? Check out a few we’ve covered here.
Are Title Loans Legal in Spokane, WA?
Washington regulates title loans in terms of loan amounts and interests. These are in place to protect the intentions of both lender and borrower.
Spokane’s minimum loan amounts are $100, and maximum loan amounts up to $50,000.
Since a title loan is a short-term loan, you should repay the loan within 31 days.
Lenders vary in their own interest rates. However, the maximum annual interest rate allowed in Washington is capped at 252%.
How Can I Get My Title Loan Money from Spokane, WA?
Once you’ve been approved for cash in Spokane Valley, Washington, you may receive your loan money through:
- Check in the mail
- Wire transfer
- In-person pick-up
- Direct deposit
Can I Get Spokane WA Car Title Loans With Bad Credit?
Bad credit scores will not stop you from qualifying for Spokane, WA loans.
Instead, the EQUITY left on your vehicle is the defining factor for your loan approval.
Additionally, lenders will need a verifiable source of income or, sometimes, bank account information to determine your capacity to repay the loan.
Can I Get Title Loans With No Vehicle Inspection?
No, you cannot get approved for a car title loan in Spokane, WA, if you do not have your vehicle inspected or assessed by an underwriter.
This is a CRUCIAL step for a title loan lender to determine how much money they are willing to lend you.
However, with the power of technology, you do not have to visit in-store to accomplish a vehicle inspection.
Sending clear, verifiable, and updated photos of your vehicle will suffice.
What Can I Do If My Car Title Loan is Not Enough?
In any case, if you need more money even after getting a car title loan, there are other alternatives you can consider.
These options may not always need collateral, but they may vary in requiring documents and background checks.
Most are similarly short-term cash loans.
- Apply for small short-term borrowings from unions or community-based organizations.
- Apply for payday loans or installment loans.
- Get a credit card advance.
- Apply for peer-to-peer borrowings.
- Get a pawnshop loan if you have other assets for collateral.
- Try making some extra bucks by taking a side gig.
- Negotiate with your employer for a cash advance.
- Ask for financial help from family and friends.
Make sure to compare rates and see which options best fit your needs and capacity to repay lenders.
Apply Online for Title Loans in Spokane Valley NOW!
A car title loan is a great and PRACTICAL way to address your need for fast cash. They are reliable, convenient, and readily available!
No need for an amazing credit score! If you have a vehicle that qualifies, you can apply RIGHT NOW!