What is a car title loan?

A car title loan is a loan where you borrow money against the value of your vehicle. The amount you may borrow depends on the value of your vehicle. To secure the loan, a lien is placed against the title of your vehicle.

How much may I borrow?

You may borrow anywhere from $2,600 to $20,000. Our minimum loan amount is $2,600. Even if you qualify for more, you are not required to borrow more than you need.

What if I already have a car title loan?

That’s okay. We evaluate each customer situation to determine if we can pay off the existing loan and refinance the loan at a lower monthly payment.

What are the most important factors in getting approved?

The value of your vehicle, having clear title to your vehicle, your ability to make monthly payments, employment, history of repaying similar loans, and credit history.

What if my credit is not so good?

That’s okay. Credit is only one factor we consider. Many people have poor credit but are still able to get a car title loan.

Do you charge any fees?

We do not charge any fees for making an application. If your loan is approved and you agree to the terms of the loan, we charge an administrative fee of $75 and a lien transfer fee of $15. If your loan is not approved, there is no cost and no further obligation to you.

Can you deposit the funds directly into my bank account?

Yes. All you need is the bank routing number and bank account number.

Is a car title loan more expensive than a bank loan or a new car loan?

Yes. Bank loans and/or new car loans are typically less expensive. But these types of loans generally have more stringent underwriting guidelines and take longer to get approved. Customers prefer us because we can make a decision quickly and get you money fast.

How long must I make payments?

Our loans are generally 36 months in length in order to keep your payments as low as possible. We encourage you to make payments on time, or even pay off the loan early. Paying off your loan early will reduce the amount of interest you pay.

What if I do not need the money that long?

You could either choose a shorter loan term, or just pay off the loan early. It is a simple interest loan so you are only charged interest on the amount financed. If you pay off the loan early, you will save on interest cost and there is no prepayment penalty.

Must I be a resident of California to get a car title loan?

You must be a resident to get a car title loan from Blue Coast Financial Services, Inc. We are only licensed in the state of California.

* Note– Provisional vehicle approval granted if lending value exceeds minimum; vehicle photos must be submitted during underwriting; VIN verification of vehicle value required; vehicle may be subject to inspection; vehicle registration and insurance must be current; full loan documentation required; approval is neither implied nor guaranteed; loan documentation and loan approval shall be based upon underwriting criteria at time of application and which may vary from time to time; clear title to vehicle by registered owner required; an existing car title loan does not necessarily disqualify applicant; Blue Coast Financial Services, Inc. may agree to pay off an existing loan in order to become sole lienholder. If loan is not approved, applicant shall receive a statement of credit denial as required by law.