Are you looking to get some cash and keep driving your car or vehicle? Title loans are the perfect solution so you can keep going about your life, get money and not sacrifice your car (vehicle).
Often referred to as car title loans or auto title loans, title pawns are loans that use the equity in your car (or motorcycle) for collateral.
With Bridgepayday you can apply online for motorcycle title loans or car title loans or even for an RV.
Because title loans online are secured, you are able to borrow greater amounts of cash and lower interest rates than unsecured personal loans such as payday loans. The loan comes from the equity in your vehicle so proof of income is a secondary factor in the loan process.
Yes, you will also see auto (or sometimes vehicle) title loan services advertised. There is no difference as a car title loan. The terms and conditions are exactly the same. We also offer online payday loans services if you do not own a vehicle.
If you need cash amounts up to $5000 you can also apply for no credit check installment loan services.
After completing the online title loan application process at Bridge Payday, our network of title lenders will review your personal application.
You will then be presented with a title loan offer based on the value of your vehicle. Your lender will arrange to collect your original title (required), but all loan documents will be electronically signed and delivered.
Vehicle title loan companies do not run a hard credit check on your profile. However, a soft credit check is still done. A hard check involves a check on the prospective borrower’s personal FICO score.
Lenders go to agencies like Equifax or Experian to run such checks. Conventional financial institutes like banks perform hard checks before lending money.
The problem with hard checks is that it is time-consuming. Besides, when multiple lending companies run a hard check, it can affect the borrower’s credit score negatively.
A soft check involves basic background checks. Since there is no required check on the personal FICO score, the borrower’s credit score does not go down even when multiple lenders perform a soft check.
There is no such thing as no credit check at all. Every lender has to protect himself/herself and hence some form of credit check is always performed. The question that you have to ask is whether that check is a hard check or a soft check.
There is no hard credit check which means loan success has better odds. This also means that inquiring about this type of loan with us won’t reflect negatively on your credit rating.
Bridge Payday does not determine or alter the terms of your loan; the value of your car, loan amount, interest rate, repayment schedule, fees and other terms of your loan are agreed upon exclusively by the lender and borrower.
Car Title Loan Benefits
Fill out an online car title loan application (we provide it on our website also). You need your title papers. Your car or vehicle should have roughly $2,500 in value to be considered for a car title loan. The lenders will use the Kelly blue book value to read the value and determine how much equity you have in your vehicle.
You should avoid this at all costs. If you are in trouble contact your lender immediately as it could impact your credit score and have your car (vehicle) repossessed. The lenders prefer to keep you driving and paying rather looking into prepossessing your car.
Depending on your state’s rules you can get amounts ranging from $1,250 to $24,000 from your car (vehicle) papers. Much also depends on your car and how much it is worth.
The amount of your loan depends on how much your vehicle is worth and the ability to repay and make the monthly payments.
The car (vehicle) must also have no other loans against it. Also, the condition of the vehicle is a factor, a better, looked after car (vehicle) could also provide you with more amounts or funds.
No. Bridge Payday is not a title lender. Our service helps connect title lenders and borrowers. Borrowers who use our application process, which pre-screens them to ensure they meet our network lenders’ minimum requirements, are then able to apply at once to multiple lenders.
Every title loans lender is different when it comes to who can and cannot qualify, but if you are at least 18 years old, have a steady income, own your car, and are a US citizen, you shouldn’t have a problem.
Title loan lenders are not concerned with your credit score. Your loan will depend on what your vehicle is worth and your ability to repay your loan.
It is as simple as that, if you have equity in your vehicle you will use your car (vehicle) as insurance to release those fast cash for your own use.