At Utah Money Center, our car title loans are one of the quickest and simplest ways to get you cash. Whether it’s for an emergency or one-time payment, our title loan programs will get you in and out with a bit more flexibility than you had before.
Unfortunately, we can’t offer our services if there are issues with the title of your car itself. Here are a few of the most common such issues, and how you can avoid running into them.
Title Fraud
One of the most common negative issues in the used car industry is title fraud. This is when the previous owner of the car, or a dealer looking to shadily add some profits to their ledger, will clean the title history of a car. This hides issues that may have taken place in the past, including major repairs and big issues that may threaten the long term lifespan of the car.
Title fraud is expressly illegal, but many people still attempt it. To avoid running into title fraud, make sure to only deal with reputable vendors and do the proper due diligence.
Lost Title
Many people forget that the title of a car is a physical document, and it needs to stay safe and secure. You can run into proof of ownership issues if you don’t have it, and a title loan is impossible without one. If you can’t locate your tile, your state’s motor vehicle office will be able to get you a new one (this can be a hassle in many cases).
Improper Transfer
Improper transfers usually trace back to issues with paperwork or other details, but they may make an entire vehicle transaction void in some cases. Again, this is where dealing with a reputable vendor is so important – if both sides are willing to negotiate in good faith, improper transfer issues can be easily corrected. If not, a court battle may be necessary.
To find out more about our title or signature loans, speak to the brokers at Utah Money Center today.