Q. Do banks do title loans?
A. While some banks do offer the option of auto title loans, the application process often involves a long wait time for approval as well as mountains of paperwork. Banks may also place a higher emphasis on the borrower's credit history. These lenders often turn away people with legitimate need solely due to poor or even average credit. An auto title loan from a dedicated auto title loan lender can be more accessible and convenient for people seeking to borrow funds based on the equity value of their vehicle. Back
Auto title loan lenders place a higher emphasis on relevant factors, including your vehicle's equity value and your ability to make regular monthly payments on time. And auto title loan lenders typically providing funding much more efficiently than banks or credit unions, with less paperwork involved. In fact, customers typically receive their funds in as little as one business day of applying.
So while some banks may offer auto title loans as a lending option, dedicated auto title loan lenders are still the best option for customers seeking funds in a more convenient manner and shorter period of time.