Our most often asked question is: What is an automobile title loan? Think of it as a car equity loan that is secured by the value of the car where the lender holds onto the title until the loan is paid off.

Car title loans or pink slip loans are often confused with auto pawn. An auto pawn works just like any other pawn loan. The pawn broker holds onto your car in a secured location until the loan is paid in full. Then they return your car to you.

Auto title lenders dont take your car as with auto pawns. The loan is secured by surrendering the title during the term of the loan and not the vehicle itself. Car title lenders look at the value of the vehicle in the market and then look at what it will be as your loan matures. Then they hedge their bet by deducting a further amount in case the vehicle depreciates quicker than expected. Then they have an amount that they can offer you for your title loan.

As you might expect, all online car titel loan companies are not the same. Most of them use various ways to determine a vehicles loan value. Here are some things you can do to maximize the cash you receive for the title:

1. Find out the interest rate. It can vary with different companies. All title loans are not alike. Shopping online is the most convenient and quickest way if you use a service like EzLoanLookup. Also, Geneva Car Title Loans checks out the rates at other pink slip loan companies week in and week out to keep our rates competitive and our service at the highest level possible.

2. Dont be rushed. These are quick cash loans but you dont want to act hastily. You will be signing a loan agreement and they will be preparing your documentation during this process. Be patient and act sensibly. Its quick cash but its not instantaneous. You want them to feel they can trust you. These loans can range from $500 to $50,000. They want you to pay it back with interest. They dont want to have to take your car.

3. Think like a seller. Of course youre not selling it but the car title loan company will obviously need to see the car and inspect it. They may even want to take pictures of it. Make sure its clean and in good condition before you go in. A dirty car could shave hundreds off your loan amount. A clean car in bad running condition can reduce the amount even more. Help them believe that you take good care of your car. They dont want to loan you money on a car that wont be worth the value of the loan and interest should you default.

Next, you may have heard of title loan companies offering loans for truck titles. What you may not know is that car title loan companies tend to be very flexible. If you own something that has a title or some legal piece of paper declaring ownership, you should be able to take a title loan against it.

These are just a few examples:

- You may be a business owner with a fleet of vans. You can get a title loan on the entire fleet. Yes, each vehicle must be titled in your name and free from other liens.

- Maybe you have more than one car or even a motorcycle or a boat. Yes, they work, too!

- Lets say you are a contractor with construction equipment who needs to fill his payroll account in order to keep his workers on the job. Get a title loan on the equipment while continuing to use it and still pay your guys to finish the job.

- Does the age of the vehicle matter? No, not in all cases. Some antique cars have values that are very high. Any title lender is aware of this and makes offers with that in mind.

Now, you may be wondering how you can get a title loan. The answer is simple. First, fill out our online application. One of our representatives or someone from a company in our network will assess your vehicles basic value in order to pre-approve your loan.

Next you need to bring in the car to the company that contacts you. Sometimes they can even come to you. They will most likely take pictures of your car and ask for a set of keys to hold during the course of the loan. Consider it piece of mind for them in the event you default. They really dont want to have to order a repo but if they do, having the keys can prevent costly damages involved in the repo process.
Now you have been well informed. Isnt it time to apply for that title loan? Remember there are no obligations until you sign for the cash. Go ahead and apply online NOW!