How To Avoid The Wrong Title Loan Lenders
With title loans there to help you out with emergency expenses, you have to be sure of what title loan lenders you should work with. And with the various choices out there, it could be difficult to choose the right title loan lenders.
The chances of easily finding the lender whose terms are right for you are higher than ever, but so are the chances of falling prey to the wrong one. So, what do you do to avoid the title loan lenders who are wrong for you? Here is what you should know to help you out with your title loans New Mexico.
Avoid These Wrong Title Loan Lenders With These Tips
1. Check The Online Reviews
While it’s true that manipulating online reviews is easier than ever, testimonials are still the best place to start with. Just as title loan lenders are getting smarter about the reviews, so are the customers - catching the ones that are trying to manipulate you is becoming easier.
And if the testimonials seem to all be in the same vein as if copied from each other? That’s a bright red flag. Good lenders don’t need to manipulate customer response – they get good ones, to begin with.
2. Try To Get In Touch With Someone Who’s Used Their Services
Reaching out to someone who’s provided an in-depth review for the lender is always worth an attempt, especially if you’ve never worked with title loan lenders before. If the person took time to write a long review, they likely won’t think answering a few questions is a burden. Be cordial, ask nicely, make sure you’re not putting too much pressure on them, and you should be good.
3. Check Their Requirements
Title loan lenders that are trying to be vague about their qualifying requirements, the application process, or timelines should be discarded outright. What makes title loans attractive is their accessibility and transparency, and a title loan lender worth their salt knows this.
For example, we here at New Mexico Title Loans, Inc. intentionally cut down the qualifying requirements list and streamlined the process to ensure maximum comfort for potential borrowers. All we need from your end are a state-issued ID proving you’re over 18, your vehicle for inspection, and its lien-free title in your name to use as collateral.
4. Ask About Their Practices
If you’ve settled on the lender you want to work with but certain things still seem unclear, take the bull by the horns and ask. Is your credit mentioned anywhere? Some welcome all types of credit, while others pay attention to it the same as traditional financial institutions. If it’s not mentioned anywhere on the website, ask your loan representative directly.
Wonder what will happen to it if you get a title loan? We happen to not report to any credit agencies, so your credit should remain as is. This means if you are trying to use this loan to improve your credit, you should look to other loans – not title loans. If anything’s unclear - you should always ask us first.
5. Pay Attention To Your Loan Representative’s Behavior
The loan representative’s job isn’t just to approve or decline you for the loan. They’re there to assist you throughout the process and ensure you’ve got full information about what’s going on. Your loan representative should provide full, in-depth instructions about the loan application process, as well as help you understand the exact terms of your loan.
If you’ve noticed that the loan representative, you’re working with is trying to avoid answering your questions directly or is trying to circumvent your questions in any way, or is leaving certain parts unanswered trying to redirect your attention - you’re likely working with a wrong lender. This is why it’s important to ask any questions you have during your initial phone call.
The Process Of Getting A Title Loan
If you’ve decided to use the services of New Mexico Title Loans, Inc., then you can easily get started online, without spending extra time on the store visits. Just fill out and submit an online form on our website.
The form will send your information to the nearest car title loans near me and, as soon as it gets processed, a loan representative will get in touch with you. They’ll provide further instructions and arrange a meeting with you at a convenient location – you don’t have to come into the store if you don’t want to.
Take the required items – the vehicle with its lien-free title in your name, along with your state-issued ID or driver’s license – to the location at the scheduled time. The representative will need to assess everything to determine if you qualify and for how much. If they decide you qualify, they’ll help you with the final paperwork and you’ll get the cash at the next bank business day at the very latest.
Get Your Title Loan When You Need It Today
The next time you are going through an emergency, you don’t have to handle those expenses on your own. Turn to title loans to help you out when you need them. And now you know how to avoid the wrong title loan lenders! Just fill out our online form now to get started with our trustworthy loan representatives.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.