How Long Do Title Loans Take?
JULY 13, 2020
At Credex, title loan applications typically take up to an hour to complete. Your waiting time, however, largely depends on the number of people who are at the office at that particular time. Our company will give you a check from a local bank. This allows you to cash the check immediately and access fast cash. To serve our clients faster, Credex has multiple locations throughout South Florida. In addition, we are open Monday through Friday and from 9am to 5pm.
It is important to note that certain factors may affect the speed of the auto title loan application. For example, the title on your vehicle and your ability to pay off the loan. The former is the most straightforward factor of qualifying for title loans. If you have already taken out a loan prior to the current one, and another lender owns the title of your vehicle, you will need to pay off that loan first. If you are sharing title ownership with another individual, you must get the title signed off from them. Alternatively, you may ask if they can co-sign on the loan. The ideal situation is that you are the sole owner of your car.
Are you employed? Is your current source of income enough to pay off the loan in the time allotted? What is the likelihood of you falling behind payments? If you are employed and can show lenders that you have a regular income stream, chances are you will not encounter issues. Title loan providers do not look at your credit history, so that is something you do not need to worry about.