What is a Title Loan?
A title loan is a secured loan allowing you to use your vehicle as collateral for a short (or long) term loan, regardless of your reasons for seeking a loan or financial assistance. Our Title Loan program offers individuals with custom tailored payment plans at the most affordable rates in Southern California; the process is hassle free with no application fees and no prepayment penalties. We don’t need your car, just your title as collateral for the loan, you can keep on driving your car as you make your monthly payments. If you are a California resident with current employment and your vehicle is paid off, or almost paid off, you may be eligible for a title loan. Our financial specialists can help you determine the value of your vehicle and the amount that can be extended to you as a Title Loan against your vehicle.
If your vehicle is not paid off or almost paid off, we can still help you secure a Title Loan by paying off your loan at your current financial institution on your behalf, we can even payoff your current title loan from our competitors to help you refinance at a lower rate and more affordable monthly payment. The amount applied towards your payoff balance will be factored into your new loan with any additional funding your require added to your loan as well.
The amount extended to each consumer on a Title Loan can vary depending on the value and current condition of the vehicle, minimum loan amounts start at $2,500 and can go as high as $20,000. The amount of the loan is calculated as a percentage of the value of your vehicle as determined by highly recognized services such as Kelly Blue Book, and Edmunds.com using key metrics including average selling price, lending value, mileage and other information.
We understand that every person’s financial needs are unique and many of our customers require immediate financial assistance. Our title loan program is specifically designed to provide you with immediate funding with short-term or long-term payment plans at the lowest rates available. Funding is made available almost immediately following the application process, and you can access your funds within 24-48 hours of signing.
Length of the Loan
Title loans are designed to provide short-term financial assistance using your vehicle as collateral for the loan, however, we offer our clients flexible loan terms depending on your budget and amount borrowed. Loans typically range from 6 months to a year, with longer terms available based on your needs and value of your vehicle. All of our loans are simple interest contracts, meaning you only pay interest for the length of time you maintain your loan until you payoff your loan, and since we don’t charge pre payment penalties, you can payoff your loan at any time with no additional obligations.
Flexible Payment Plans
Performance Auto Loans is a privately funded company, unlike our competitors who have to charge high interest rates to show profits to their shareholders and investors, this allows us flexibility when dealing with our clients and gives us the unique ability to determine interest rates and monthly payment amounts on a case by case basis to custom tailor a loan specific to your needs and requirements. Our financial specialists can assist you in determining the optimal amount borrowed on a Title Loan to help you manage your monthly payments and any other financial obligations you may already have.
What will it cost me?
There are no application fees and no prepayment penalties; the only cost to you is the interest you pay monthly on the principal balance of the loan. Typically title loans carry high interest rates due to the extreme risks involved with the fluctuating market values of your vehicle and your credit history, however, we do our best to provide you with the most competitive rates and the most affordable payment plans, our interest rates start at just 1.9% monthly and may be greater depending on your credit history, term of the loan, and the value of your car, truck, or SUV.
- Valid California Drivers License
- The Vehicles Title (Clear of any Liens)
- The Vehicles Valid and Current DMV Registration
- Proof of Income (i.e. Check Stubs, W2 statements, or Bank Statements)
- Proof of Residence such as a Utility Bill in your name
- A complete Cellular phone bill in your name
- References (Friends and Family)
- Proof of Auto Insurance
- Less than 12 Years old
- Less than 160,000 miles
- Not Salvaged
- KBB valued over $5,000
Areas We Service
- All of Southern California
- Orange County
- Los Angeles County
- Riverside County