Colorado Installment Loans
A title loan is a short-term loan secured by your qualifying vehicle as collateral. After approving you for a Car Title Loan the lender gets your car title and becomes a lienholder till you pay back the full amount of the loan plus interest and fees. The good news is that you can use your vehicle while you are making your payments during the loan terms.
The first step involves filling an application form online. You’ll also fill in details about the automobile you wish to use as surety for the loan. You’ll provide the information on the year of manufacture, make, and model of the vehicle.
To find out how much you can get with a car title loan in Colorado, take a minute of your time to fill out the form on the side of this page. Once we have received some basic car and contact information, we will send you a free quote based on the current market value of your vehicle. In most cases, you will not need a bank account to qualify for a car title loan. The only exception is the state of Florida, which does require applicants to have an active bank account.
The Lender verifies the requisite documentation and condition of the car. If the creditor is lenient enough, they’ll agree to rollover your loan. In such a scenario, you’re required to first pay the interest then negotiate repayment of the rest of the loan. This helps whenever something happens, and you cannot repay the installments. Most banks and credit unions require that you state the purpose for your loan.
The dealer then allows you to make weekly, biweekly or monthly payments on the vehicle directly at the dealership. When you pay the full lien on your vehicle, the dealer will inform the Colorado Division of Motor Vehicles and you will claim ownership of both the car and the title. Since 1998, Advance America has provided Coloradans with the money solutions they need. Advance America is a trusted direct lender with the services and support you need to keep moving forward. We are proud to offer instant approval decisions on loan applications in store or online, which means you can get the money you need the same day. Stop by one of our 10 convenient Colorado locations or apply online today.
If you own your car and you have the lien-free title in your name, you are already off to a great start. To learn more and to find out which lenders offer this option, contact us today. There are 5 main things the title lender needs to know on the car itself. If you know the VIN number of your car, this will make it much easier and much more accurate to get the correct value.