FAQ – Car Title Loans in Oxnard
What are the facts about Auto Title Loans in Oxnard? We do our very best to provide these facts on this FAQs page. Listed below are the most common frequently asked questions from our customers in the past. Silver Palace Title Loans is the best at what we do because we are honest and straightforward with those who approach us for car title loans they can trust. We believe that the only bad question is the one that never gets asked. If you don’t see your question listed below please let us know and we will make every effort to answer your question thoroughly and with conviction.
What is an auto title loan?
This type of title loan involves the process of using the title of a car of value as collateral to secure a prospected loan obligation.
If I am using my title as collateral is there any chance I could lose my vehicle?
Any time you are using anything of value as collateral there is an outside chance that it could be lost if the obligation of the loan is not satisfied. However, we would much rather you satisfy the loan agreement and we will do everything within our means to ensure you can do just that.
Is my collateral held until I have satisfied the terms of the auto title loan?
No. One of the benefits of a car title loan is that you get to keep the vehicle in question while we hold the title as collateral.
What specific documentation will I need to apply for and receive a car title loan?
You will need the vehicle title and a driver’s license to prove your identity. All we really need is the basics about you and your vehicle to validate approval.
Is there a set limit to how much I can borrow?
Yes. It depends on your vehicles condition, age, make and model. The newer vehicle in the best shape will bring in the most money.
Can I assume the interest rates will be higher than a bank loan?
Yes. Interest rates associated with title loans are higher, but the loans are also easier to get.