California Car Title Loans

People with bad credit or low income can get cash for their car title if the title is clear. A car is a valuable asset, and if the car is paid off or nearly paid off, it can be used as collateral for a loan. These loans are available in most states, including California, though there are regulations that govern how they can be structured to protect the consumer from predatory lending.

Some disreputable lenders use title loans to prey on people with bad credit and/or low income. By locking borrowers into unforgiving terms, they are able to charge exorbitant interest rates and keep borrowers in perpetual debt until they must relinquish their title or face repossession. Sometimes borrowers can pay more in interest charges than the cash they initially borrowed.

Choosing a Reputable Lender to Get Cash for a Car Title

When looking for a title loan, it's important to find a reputable lender that offers reasonable terms. The interest rate charged by the lender is one of the most important terms because that dictates how much cash a borrower will pay out over the life of the loan. Some lenders advertise their interest rate in monthly terms only, but it's important to consider the annual interest rate (monthly x 12) when borrowing for more than one year.

Wilshire Consumer Credit provides cash loans using auto equity as collateral. Operating in California and several other states, this lender offers some of the lowest interest rates in the industry as well as flexible repayment terms to meet the needs of different customers.