Title Loans Santa Clarita

The third largest city of California – the city of Santa Clarita is known for several reasons other than how expansive its geographical boundary is. In fact, Santa Clarita is recognized as one of the top places to live in by the Money magazine (2006). The city is also known for its lifestyle, culture and people. But the primary reason why Santa Clarita has survived to be where it is now is just by virtue of the advanced choices being offered to its residents over the period  of time. One such choice is the facility of title loan, which has really made dramatic changes in the life of those who need quick cash, but can’t get it due to some or other reasons, most importantly because of their bad credit history and the hectic loan approval process of traditional banking that no sensible man wants to involve himself in.

The auto  title loans – which is considered to be one of the best fulfillment resources to obtain the fast cash by just putting the auto title as collateral, is of immense help for a large number of financially-straits residents. This facility of instant financial solution caters to the borrower’s immediate needs of coping with their financial emergency. And it is only by virtue of these great features of the title loan that a large number of residents in Santa Clarita are able to meet all their unexpected and unforeseen expenses.

How Does It Work?

The process of title loan in Los Angeles follows the same pattern as any other form of consumer, collateral loan, except; it’s much more convenient. For starters, they can finish the entire title loan process by just sitting in the comfort of their home. They simply get to log onto the website and fill out the loan application form with the required details. Besides, the prospective borrowers also need to submit a few important documents, including:

  • Present economic situation
  • Auto title document
  • Income proof
  • Identity proof

Free Estimate!

When you are done with the above process, one of the title loan reps from the concerned title loan company will get back to you with a title loan estimate loan amount, which can be offered on the basis of the present value of your car in the market. Please mind it here that this service is free of charge and no prospective borrower is obliged to continue with this. Reps of the lending company usually get back to you with the necessary details within a day’s time.

Transfer Loan Amount As Per Your Preference

Once you find yourself fully satisfied with the loan proposal and approve it, you will be granted the loan almost. Now, there are two ways through which the loan amount can be transferred to you.

 

  • You can either choose to visit the store by yourself or collect the cash.
  • The majority of lending companies provides services of transferring the loan amount to your bank account, making it all the more convenient for the borrowers.

Existing Regulations In California

In Santa Clarita, the California Attorney General’s Office and the California Department of Corporations are essentially responsible for regulating activities regarding auto title loans in California.

Following are some of the regulations applicable in Santa Clarita:

  • Rate cap under the sum of $2,500 is primarily protected by article 15 of the California Constitution. However, the amount above $2,500 is exempt. The repayable amount is understood between the lenders and the borrowers.
  • Customers are liable to express their ability to pay to qualify for the loan.
  • All the decisions/proposals regarding the loan should be provided to all the prospective borrowers in writing.
  • The maximum fees the lender can charge on an amount under $5,000 is $75. Any amount of more than $5,000, is understood between the lenders and the borrowers.

Where to complain when misguided and defrauded?

In case you face any issues due to a lender, just contact the California Department of Financial Institutions, or give a call to the concerned department at the below numbers:

916-327-7585 or toll-free at 1-866-275-2677

Thus, the entire concept of auto title loans has been developed for the welfare of those who find no solution when challenged with the financial crunch but are in dire need of money.

 

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