Title Loan Company Safeguards

Payday loans are very popular, but do you know what else is becoming really popular? Car title loans. Yes, car title loans are one of the hottest financial products on the market for several reasons. One, most lenders can approve and get you funds within one business day. Two, you can get approved online, so you don’t have to go to a brick and mortar store. Three, they’re easy to apply for and you can get approved with bad credit. But before you jump into the easy world of quick financing you should do a little homework before you apply for a title loan online.

You need to consider that when you’re applying online, you’re giving your financial and personal information. So make sure that when you’re applying online that the website is encrypted and has an SSL certificate. What does that mean? It means that the site that’s taking your personal information is more secure and is encrypted. But how do you know? If you type ‘https://’ in front of the site’s name and the site populates, then the site has an SSL certificate. However, if the site displays ‘http://”, then the site does not have an SSL certificate. The difference you’ll see is the ‘s‘. You’ll notice that when you type, https://uppercasecapital.org, the site works perfectly fine and doesn’t redirect you to another site. That’s because our site has an SSL certificate.

You can also find online reviews and if the majority of the reviews are positive, you can feel fairly confident that the company you’re dealing with is legitimate. In the end, you just don’t want to hand over your personal information to just anybody. Here are some safeguards you can take when applying for an online car equity loan.

Use Caution When Applying for Auto Title Loans

The process for applying for an online title loan is so simple because the consumer is able to do so via their computer or mobile device. When you visit an online lender you’re trying to get approved for financing by using your automobile as collateral. Since companies have made it so easy to apply, it is becoming an increasingly popular way for quick financing. Applications are typically quick and easy to fill out, all you have to do is incorporate a few pieces of information regarding yourself and your vehicle. Due to the ease of applying, we ask that you use caution.

Don’t Let Your Personal Information Get Compromised

As we all know there are some unscrupulous characters out there that are trying to steal your identity. They do this by several scams, so when you’re making an important financial decision, you should do it safely and securely. If you’re working with a legitimate lending company, you probably don’t have to worry about anything in this article, but you want to make sure that the company that you’re dealing with isn’t taking part in any of the following scenarios:

• Have you ever wondered why you get unsolicited mail, phone calls or text messages? It’s usually happens because you’ve given your information to a company and they’ve taken it and resold it to another company for a profit. This is very common practice and there really isn’t a way for you to safeguard yourself from this practice. However, you should know that when you do send your personal information to a company, this will likely happen.
• When you’re dealing with a lender you should ask them what they’ll be doing with your personal information. You see, most people who are applying for auto title loans don’t have the best credit. So some lenders may sell your information to companies that specialize in fixing credit ratings. Keep in mind that most auto title lending companies won’t run a credit check on you (there’s no need to), so you can rest assure that you shouldn’t fall victim to this if you’re dealing with good company.
• You should limit the number of companies that you apply with for the simple reason that you don’t want to accidentally apply with a company that could do you harm, like stealing your identity. The worst part of having your identity stolen is the time and money to get your life back in order. I’ve heard of a number of horror stories that feels like you’re living in a nightmare. What we typically suggest is that you work with a referral company. You provide your information once and they take it to get you approved with multiple lenders that are competing for your business. Which means you can get a competitive quote without taking the risk of applying with different ‘lenders’.
• What most people don’t consider is that a lending company is going to do a background check on you, so before you consider doing business with a lender, why shouldn’t you do a background check on them? You see, it is very easy to Google and find auto title companies. Review their website to make sure they have a privacy policy, terms and conditions, contact information. Read every last word in these pages. If a company doesn’t have this information on their website, we highly suggest you move to another lender. You can do a search on Google to see where the company is located. If the company doesn’t have a primary address located in the United States, that’s another red flag for you to move to the next company. You see, a lot of identity theft rings and scams are located in other countries. Eliminate any company that isn’t in the USA. Our last tidbit of information is to use Google reviews. Those reviews are a lot harder for companies to manipulate because Google’s algorithms know if a user is real or fake. So when you’re looking at Google reviews you can be fairly confident those reviews were provided by a real person.

At the end of the day you have to be as diligent as possible when you’re making a financial decision. These decisions are going to carve your future. If you make a bad decision, that one lone bad decision could scar your financial future for years to come. It can’t be stressed more, when making a decision to get an auto title loan, please use some foresight and use some of the tips we’ve laid out for you. The last thing you want is to put yourself in a worse financial situation than you are currently in.