A car title loan is a loan that is based on the trade-in value of your car and is secured by your car as collateral. The lender, BSL Financial Services, Inc. in our case, is put on the car’s title as a lien holder. You get to keep driving your car while you have the loan, just like you did if you made payments on your car when you bought it. A car title loan is different than an auto pawn transaction, which requires you to leave your car with the pawn shop.
See About Car Title Loans for more details about how auto title loans work.
No. The same kind of loan goes by several other names including:
Yes. We’ll only keep the car title and put BSL on it as the lien holder. It’s pretty much the same as financing a car when you first buy it: you drive the car and make regular payments to the lender.
You can borrow from $2,525 up to $25,000, depending on the value of your car, how much money you owe on your car, and our assessment of your ability to repay the loan. We do not want you to borrow more money than you can repay. It's bad for you and it's bad for us. Fill out the Qualification Form at the top right on this page to see how much you may be eligible to borrow on your car*.
Your car must have equity (the value of your car minus what you owe on it) of at least $3,200 to be eligible for a car title loan.
To see if your car is eligible for an auto title loan, please fill out and submit the Qualification Form at the top right on this page. We'll tell you if your car has enough equity to be eligible for an auto title loan and, if so, what the maximum loan we would make on your car is*.
No. Even if you have another car title loan on your vehicle, you may still qualify for a pink slip loan from us. Call to find out if your situation qualifies.
Other requirements to get a California car title loan include:
BSL Financial Services is an equal opportunity lender, which means that we do not discriminate based on race, religion, national origin, sexual orientation, or any protected basis. We will make the final decision about approving your loan based on the equity in your car, your ability, as we see it, to repay the loan, and other information you provide. Contact us if you have any questions.
Yes. If you’ve lost the title, we will help you complete your loan and obtain a new title. If you don’t have the title because there is already another lien holder on the vehicle, we will work with them to get your title, if we approve your loan.
Call us before you go to the DMV to register your car. If you qualify for a car title loan, we’ll walk you through the process of getting your car registered with BSL as a lien holder at the same time as you register it; this can save you weeks in being able to get a loan using your car as collateral.
Yes. For example, if the title is in the names of “John and Mary Smith” or “John/Mary Smith” then either both John and Mary will need to apply for the loan or the person who doesn’t want to be on the loan will need to sign a release to allow the car to be used as collateral. If the title reads "John or Mary Smith" then either John or Mary may apply for the loan without the other being involved at all. Please call us so we can help you apply appropriately and save you time.
You will need the following documents to get a car title loan (call us if you have any questions):
Yes. You just need enough regular income so that you can make your monthly payments on the loan and live on the rest. Call us if you have any questions about this.
This depends on the time of day you start the process and the completeness of your application and additional documentation. We can issue your loan in one hour or less. If you walk into one of our offices, you can walk out with a check, or we can make an electronic deposit to your bank account, if you want.
Yes. There are no restrictions on what you can do with the money you borrow. You can use it to pay bills, for a medical emergency, to repair your house, to take a vacation, and for other things. We suggest you use it responsibly since you will need to repay it.
There are three ways you can apply for a car title loan:
That’s simple—we’ll come to you. Yes, we’ll send someone to your home or workplace to complete your loan and give you the money.
It costs nothing to apply for a loan. If your application is not approved, you pay nothing. If you decide not to take the loan after your application is approved, you still pay nothing. You will be charged a one-time loan administration fee at the time your loan is funded. Also, there will be a DMV fee to get a new title with BSL Financial Services, Inc. as a lien holder on your car. All fees are fully disclosed in the promissory note, please read it before you sign it. We'll be glad to answer any questions you have before you sign your loan documents.
No. We never charge a prepayment penalty. You can prepay any amount you want without a penalty. Look at Early Payments to see how you can take advantage of not having prepayment penalties and save money.
We will run a credit report on you. Even if you have bad credit or a past bankruptcy, you can still get a loan. Our car title loans do not have a credit score cut off. Just ask our current and past customers. We have made loans to people with poor credit history, good credit history, and thin credit files. BSL looks at all of the information you provide to make its own decision about approving a loan for you.
Yes, you can still get a loan from BSL even if you have bad credit. We approve loans for people depending on the value of their car, their ability to repay, and the information they provide on their application.
Yes. You may have a co-signer on your loan.
If you have a co-signer on the loan, we'll need an application from him or her as well as a copy of his or her driver's license, proof of residence, and proof of income. By the way, we keep all non-public personal information private and do not let the borrower know the co-signer's information and vice versa.
The security of your information is very important to us also. If our customers didn't trust us with their valuable information, we would be out of business. So here's what we do to protect your information:
The alternatives to entering your Social Security Number in our online form are:
* BSL reserves the right to make the final determination of the value of your vehicle for the purpose of a loan from us. Loans are subject to credit approval.
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