Can I Use a Company Vehicle for Title Loans?
Yes! If you have a company car and are thinking about a title loan, you are probably wondering if your company vehicle is eligible for the title loan.
If you are the company owner, then yes you can use your company vehicles for title loans.1 No matter what your reasons for needing funding may be; from a positive flow of cash, lowering your credit cards, or taking on more staff, title loans could be the solution for you.
Right now with the Corona Virus, it is very hard for many companies to stay in business. So if your company is needing a positive cash flow right now then a title loan could be a great option for you.
How Does COVID-19 Affect Getting a Title Loan with a Company Car?
It basically doesn’t! Thankfully with a title loan, you can apply and get funded without ever having to leave your house!1
The title loan process can be completed mostly online, or over the phone, which means you can remain in quarantine and still get the loan you need.1 Your documents can be emailed, faxed, or even texted in, so all you need is a phone or internet connection.
Once you are approved for funding and are ready to receive your money, you can choose between direct deposit, wire transfer, or even a check by mail. Staying healthy and protected is more important now than ever, so Max CashTM does everything possible to make sure you get the funding you deserve while maintaining your safety and giving you the money needed for your business.
What is a Company Vehicle for a Title Loan?
A title loan with a company vehicle is a way to get secured funding in exchange for a lien on the vehicle as collateral. During the life of the title loan, the company car will still remain in your possession as you pay off the loan, that way you can keep driving the car as normal when you keep up with your manageable monthly payments.4
Using a company vehicle for title loans is fairly similar to the regular car title loan process. All you have to do to get a title loan with a company car is fill out a simple inquiry form, send in a few documents, and receive your money.
If you have been hit with unexpected expenses such as hospital bills or home repairs and are looking for the best way to handle your debt, you may want to consider a title loan as a form of short term funding. Not everybody has hundreds or thousands of dollars to spend on sudden bills or expenses with little or no notice. But with a title loan, it can be possible to have money as soon as the next business day, so you don’t have to stress about your finances.1
How to Get a Title Loan For a Small Business with a Company Car
In order to use a company car to get a title loan, there are a few steps you must follow.
The first step is to fill out the initial information form. This form will ask you a few simple questions about your financial history and the car details. One of the perks of title loans is that your credit history isn’t the major determining factor when it comes to approval. So even if you have less-than-perfect or even no credit, you are still encouraged to inquire about a title loan if you are looking for fast cash.
The second step of getting a title loan with a company car, upon initial approval, is to turn in a few documents. The documents the lender will typically ask for are:
- Government Issued form of Photo ID – This can be a driver’s license, state ID, etc.
- Proof of Residence – Things like a utility bill, lease agreement, mortgage contract, etc.
- Proof of Car Insurance – This is to ensure the vehicle is properly insured
- Documents proving the Company Car is Qualifying – This typically means that the vehicle must be lien-free and does not have outstanding payments
The third step is to sign your contract and receive your money! Once your documents have been processed, your loan representative will prepare your contract for you to sign and it could be as fast as the same-day or the next day to get your money. Before signing, you want to make sure you understand the terms and agreements, so be sure to read them thoroughly.
What Happens When I Get a Title Loan with a Company Car?
When you use a company car to get a title loan, the lender will place a lien on the vehicle throughout the duration of the loan. But while this happens, the vehicle stays in your possession to use as normal. You shouldn’t have to burden yourself with the stress of not having company vehicles in order to get convenient funding. It is also important to note that the lien placed on the vehicle during a title loan is not permanent. Once the title loan is paid off in full, the lender can be removed as a lien promptly.
If you feel you are unable to make payments on your title loan, be sure to reach out to your title loan representative as soon as possible. Since title loan terms have the ability to be flexible, you may be able to work out a more convenient payment plan in order to make your car title loan payments more manageable. That way, you don’t have to worry or stress about keeping up with your monthly installments.
How Can Max Cash Help Me Use a Company Vehicle for a Title Loan?
Title Loans with the assistance of Max Cash has never been easier. To get started, just fill out a brief inquiry form and you should know with in a few minutes if you are pre-approved.
Max Cash has been in the industry for over a decade, so if you have any questions, feel free to ask! Max Cash offers free financial customer service which means you don’t have to pay anything to get the accurate answers you need when it comes to title loans and other loan products.
If you are looking to use your company vehicle for a title loan, get started with the help of Max Cash today! We are open 7 days a week with extended hours, and we welcome you to email, call, or even text if you’d like to learn more about using a company car for a title loan.
So for the question of can I use a company vehicle for title loans? With Max Cash Title Loans the answer is always yes! Give us a call today at 855-561-5626 and get the loan that you need today.
Max Cash Title Loans Helping During the Coronavirus Pandemic
With Max Cash Title Loans we can help you and your business stay open during the Coronavirus pandemic by helping you get the money for your business and personal needs. We understand that there is panic everywhere, let us help you have certainty that you need to make your business successful during these times.