This was a $5,000 car title loan that was approved and dispersed in one afternoon. The money was transferred into the borrowers checking account within 3 hours of applying for the loan.
His vehicle is an H2 Hummer SUV manufactured in 2005, with 75,000 miles on it. The person borrowing here lives in Pulaski County right now. More on this below.
Our borrower is currently in Little Rock Arkansas, and getting ready to move to Memphis, TN to start a new life and a new business. He is engaged to be married, and she will be joining home on the move going East to Tennessee.
We see allot of people who need a loan for moving expenses, and if they happen to have a seriously damaged credit score they won’t likely have any luck getting a loan quickly – maybe not at all.
So this was their only choice. The 2005 Hummer was in the male applicant’s name so he is one who applied for the title financing. The loan was ultimately approved because of the condition of the vehicle, the year, and the relativaly low mileage on it.
As per the Kelley Blue Book web site this H2 Hummer would have a resale price of $26,000. This Hummer should sell for $23,000 to $28,000 depending on the options it has, so a loan for $5K-$6K shouldn’t be a problem for your average run-of-the-mill car title lender.
$5000-$6000 Car Title Loan Little Rock AR – Pulaski Cty
Underwriter’s Loan Description :: Car Title Loan
Make of Vehicle :: Hummer – This is a white Hummer that is good shape, except for a little bit of road rash, it’s fine.
Model of Vehicle :: H2
Year of Vehicle :: 2005
Mileage on Vehicle :: 75,000 miles on the odometer
Amount Owing on Vehicle :: $16,000
Car Title Loan Little Rock AR – Pulaski Cty – No Conventional Lenders Pls.
Why do you need a loan? :: $5000 dollars requested quickly to pay for moving expenses. My fiance and I are moving to Memphis, TN and we need to borrow this money using our car as security. Our bank branch loan officer wouldn’t even give me a meeting to discuss my loan request. I don’t see why not – I thought that banks used to give loans to borrowers who had collateral in their car, or in my case an SUV. My Hummer is in excellent shape and only has 75,000 miles on it. The interior is almost in mint condition.
How Much Do You Want To Borrow? :: Between $5K – $6K
Length of Employment :: Over 3 Years
Time at Address :: Between 18 – 24 Months
Age :: Over 25
Anything else you can tell us to speed up approval? :: I may be able to pay this loan down fairly fast because I’m starting a new business that could be very profitable. I am starting a new business in Memphis that is a cash business which should give me a profit of over $15,000 per month. That is after all the bills are paid too. I have to get this car title cash because I have a bad credit rating and can’t get a loan anywhere else – even if I have a great vehicle for collateral. Very frustrating for sure.
Sex :: Male
Ever Claimed Bankruptcy? :: No – never
What State is your primary address in? :: AR
$5K-$6K Vehicle Title Loan – Little Rock AR – Pulaski Cty – Bad Credit Rating
Would you consider your credit rating to be? :: Poor credit rating. I have had bad credit for 3 years now since I was laid off from work back then when I lived in Pine Bluff. I was laid off my job as security guard at a local mall. I am working on my private investigator’s license and my business in Memphis is a security and private investigation based. We have other high-tech systems we will be marketing too, and like mentioned above, it’s going to be very lucrative. Please consider letting me use my Hummer as collateral with your car title loan. Thanks in advance.
Loan Officer Conclusion(s) :: Vehicle Title Financing granted. Requires signature in office when applicant can come in. Cash to be dispersed via direct deposit before business hour closing tomorrow.
Tips for Borrowers :: Always try to have at least $10,000 dollars saved in a savings account for emergency funding. You must have this rainy day cash in case of a layoff, a medical problem, or family emergency. In this case the borrower did get their car title loan approved, but not because of the applicant’s insistence of the money he is “likely” to bring in. A car title loan is nothing more than a pawn shop bond with a different name. If the borrower doesn’t pay the loan back (with fees) his SUV will be repossessed legally by the lender. He was granted the loan based on the value of his vehicle, and nothing else.
Disclaimer: The views expressed by this author don't necessarily reflect the opinions of Lazerloan.com, it's owners, or it's affliates.
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