It is always nice to have your own pool in the backyard. Yes, it is a lot of work, but you and your family will love the convenience of having your own as well as playing host to numerous pool parties. The biggest problem with putting in a swimming pool is paying for it. A car title loan is a quick and easy way to obtain the money you need to put in the pool of your dreams.

How Do I Qualify For A Car Title Loan?

You must have a vehicle, of course, and the car or truck must be in good working condition. In most cases, title loan companies would prefer that the vehicle is completely paid off; however, there are instances where a borrower may still have a balance remaining and still be approved for a title loan. Typically, the vehicle needs to be 15 years old or less and the title should have no other liens. If you meet these criteria, you can likely take out a car title loan.

How Do I Obtain A Car Title Loan?

The first step is to fill out an application. Most title loan companies, like Embassy Loans for example, allow potential borrowers to fill out an application online. The typical auto title loan application will take less than five minutes to fill out. When completed, applicants must submit a few pieces of documentation in order for the lender to process the loan. Applicants will need items such as a driver’s license, possibly a utility bill, and the title to the vehicle.

Once an applicant’s documentation has been verified, the title loan company will appraise the applicant’s vehicle. Most lenders will derive the value of a car, truck, or SUV from one of the common blue books on the market. The vehicle must be in running condition, of course, and typically needs to be fewer than 15 years old. In most cases, the owner of the vehicle must not have any liens on the title. There are some instances where a borrower may have a loan balance and still obtain a car title loan.

What About My Credit History?

Since a car title loan is secured by a vehicle as collateral, a borrower’s credit history is not all that important. In many cases, lenders will not even run a credit report. If your vehicle meets the conditions and there is enough equity available, you can qualify even if your credit history is suspect.

Once the loan is approved, borrowers can receive their money. Often, this occurs within an hour. When the money is received, you can use it to pay for your brand new pool.