$5000 Loan Now Available from Title Loans in California

July 22, 2012 - PRLog -- Individuals looking for a $5000 loan will be able to receive one from Title Loans in California. A $5000 loan is granted to people based on their car’s equity value. Loan amounts will vary: the minimum that can be lent is $2600 and the maximum is $30000. Not everyone will qualify for the same amount.

The process of getting a car title loan in California is quite simple http://www.titleloans-ca.com/. Unlike traditional title loan lenders, Title Loans in California has developed a system known as Quantum Loan Technology. Rather than a person driving around trying to find a store and dealing with lengthy wait times, the individual first applies online.
Unlike a bank loan application, a car title loan application only takes about ten minutes to complete and the approval time is nearly as fast. There are more restrictions on title loans than payday loans, but less than a bank loan. So rather than needing a week to approve the person, a title loan underwriter only needs a few minutes.

Title loan customers can expect a call in about an hour after they apply. During this call, the loan underwriter will let them know if they qualify for a $5000 loan or more and tell them about the 7.5% monthly interest rate and the repayment process.
All loans are fully amortized and written for one to three years. No prepayment penalties or fees will be assessed; many title loan recipients often pay back their loan in the first few months. Best of all, there are no balloon payments.

When a customer accepts the loan offer, they will then have to scan or fax several documents such as the title and proof of income. After this has all been verified, the loan underwriter sends them to one of the hundreds of signing locations they have access to around the state of California. http://www.titleloans-ca.com/auto-title-loan-locations.html
At the location, there will not be any wait for service (an appointment has been made specifically for that person). The check will be ready; after the title has been transferred and the contract is signed, the check is given to the customer to do as they please.