What are car title loans in San Diego?
A car title loan allows you to borrow the equity in your vehicle so you can receive much-needed cash.
What do I have to do to receive a car title loan?
- Car must be worth at least $3,500
- Provide us with clean DMV title
- Provide us with current DMV registration
- Provide us with proof of income
- Provide us with proof of full coverage insurance
- Provide us with valid driver’s license
- Provide a recent bank statement
What is the minimum/maximum amount of money I can receive?
By law, California requires we loan individuals a minimum of $2,510 and maximum of $50,000.
What if my car isn’t worth $3,500?
In a few situations, we have been able to make an exception for those whose cars were not worth $3,500, but it is very rare. Most people applying must have a vehicle worth $3,500.
Do I have to be a California resident?
In order for us to give a customer a car title loan, they must be a resident of California.
Can I keep my car while I have a loan with 15 Minute Title Loans?
Yes! While we own the title of the car, you can still keep and drive your vehicle.
Who doesn’t qualify for a car title loan in San Diego?
Those who are regular or reserve members or a dependent/a spouse of a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard, serving on active duty under a call or order that does not have a specific end date cannot qualify for a car title loan from 15 Minute Title Loans.
Will I get penalized for making any pre-payments?
No! There is no pre-payment penalty. We also encourage our customers to pay more than the required monthly amount so they can repay their loans faster and pay less interest.
When can I receive my title loan?
Depending on the customer, the process takes anywhere from 30 minutes to an hour if all requirements meet all necessary criteria to qualify for a loan.
Will I get charged any hidden fees to discover if I qualify for the loan?
We do not charge a quote or estimate fee.
How do you fund loans?
We provide a check for the loan amount that customers can cash with us for a minimal fee.
Will I have to go to the DMV after receiving a loan?
We aim to make our customers’ lives easier, which is why we handle all DMV paperwork. All customers need to do is come in and provide us with all necessary documents needed to approve their loan!
How long can you write a loan for?
We usually write a loan for 36 months.
What if I have a classic car?
We generally do not lend on classic cars, but we will treat this on a case-per-case basis.
Does my car need to be completely paid off?
In most situations, yes, your car has to be paid off. In some situations, we can lend a customer money if their car isn’t paid off, depending on the customer and their case.
Do I need to be employed when I apply for a loan?
You do not need to be currently employed, but we need to know that a customer has a source of income to ensure that they have the ability to pay off the loan. If you do not have a job, you may need a co-signer.
If I am on disability or retirement, can I receive a loan?
You can receive a loan if you are on disability or retirement, as long as you have some form of income.
What if someone else’s name is on the car title with my name?
You may still be eligible to receive a loan if another person’s name is on your car title with your name. The other person listed as the owner, however, must be present when your loan is approved.
Is it really necessary that I have full insurance coverage?
Yes. All car title loans cannot be given without proof of full insurance coverage. It is not just our company with this rule-all car title loan companies require this.
I know I will qualify for a title loan but I only need a small amount of money. What do I do?
By law, we can give customers the minimum amount of $2,500. If you only need a small portion of that money, you can make a large payment toward your loan principle.
If I have a car title loan with someone else, can I refinance to receive a better rate / additional money?
Absolutely! We can either help you refinance your car or help you apply for a car title loan if your title loan was completed correctly by your current loan company and if your vehicle is still in decent shape.
Does my name have to be on the title for me to receive a loan?
No, your name does not have to be on the title for you to receive a loan, but the title holder must be present when we give you your loan.
What is your interest rate?
The interest rate depends on the customer. We strive to offer customers the best interest rate possible.
If I recently filed for bankruptcy but still have a job, can I get a title loan?
You may receive a title loan only if your bankruptcy file has been discharged.
If there is another person on the title of my car, do they need to be with me when I sign the paperwork?
If the title says your name “and” another person, they must be present. If it says your name “or,” they do not.