Here’s the scenario. You want to apply for an auto title loan. You know what type of loan you’re looking for and you know you have no other options in terms of getting cash. Let’s say you need 3-4 thousand dollars within 48 hours. At this point you’re going to start the process of finding a lender that funds auto title loans. You’re also not really worried about having your credit checked and you have a vehicle that you can use as collateral for the loan. Your going to ask yourself, should i submit my application online or should I meet with someone local who can sit down with me face to face? Let’s break down your options and see what’s best for you.
The good thing about this scenario is that there isn’t any single option that you need to go with. You may feel more comfortable meeting with an auto title lender face to face. That’s fine and perfectly acceptable. Many applicants feel they can trust someone more that they meet face to face and they also prefer the fact that they can physicaly see the loan documents as well as the companies location. A downfall with this method though, is that you’re going to have less options than if you applied for an auto title loan online. Just like any other business you’re not going to have as many lenders if you limit yourself to businesses that are in your city. If you decide to go with an online lender you’re going to run into the opposite issues of what we mentioned above. Sure you will have many more options when it comes to finding online auto title loans. The negative aspect is that you will have less piece of mind and you will probably never see the lender face to face. Some people just can’t handle that type of scenario and they would never apply for title loans online. Some people have no problem with that. It really just depends on the type of person you are. Are you looking for more flexibility? If so, an online title loan is probably where you going to go. Are you looking for more face to face interaction? If so, a local lender will be your best fit.
One thing to remember is that auto title loans are similar to long term installment loans and other types of personal loans. Opposed to a payday loan you’re going to be working with your lender for quite some time. That’s why many people would rather go through the title loan application process in person versus applying for a loan online. Also some people feel more comfortable with limiting the amount of data that they put online. This is a valid concern. We’ve heard so many stories over the past few years where applicants submitted critical personal information such as their bank account and social security number only to find out the online lender was just a scam. Don’t let this happen to you. If you’re applying for auto title loans online make sure that lender is verified and has a positive track record. If you don’t feel comfortable at anytime during the online title loan application process then you should meet with someone face to face and apply for a loan with them.