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Old 04-29-2009, 05:01 PM
 
50 posts, read 153,644 times
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I have a car under my name thats all paid up. It needs to be fixed, desperately fixed. I am desperately trying to get a title loan, but every place wants me to bring the car in for them to inspect it.

Ok, thats obvious, but its also obvious the only reason I'd ever consider a title loan is when my car is diabled, and I dont have the funds to fix it like any normal time of the year. This is NOT a normal time of year and I dont have the funds to cover it.

So, is there anyway in heaven or hell I can get a title loan without having them look at my car? I have the paper, can bring the tag... I cant see why that isnt enough in itself.
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Old 04-29-2009, 05:08 PM
 
57,953 posts, read 29,481,080 times
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Quote:
Originally Posted by JoeyR View Post
I have a car under my name thats all paid up. It needs to be fixed, desperately fixed. I am desperately trying to get a title loan, but every place wants me to bring the car in for them to inspect it.

Ok, thats obvious, but its also obvious the only reason I'd ever consider a title loan is when my car is diabled, and I dont have the funds to fix it like any normal time of the year. This is NOT a normal time of year and I dont have the funds to cover it.

So, is there anyway in heaven or hell I can get a title loan without having them look at my car? I have the paper, can bring the tag... I cant see why that isnt enough in itself.
If you think about it, common sense would probably answer your own question. You want someone to loan you money on a car, that doesnt run. Ok, how much is the car worth normally? How much do you want to borrow? How much do you think the car is worth now? What assurance does the bank have that you will take the money they loan you and fix the car? If you dont fix the car, what will they have? A title to a worthless car...

Try a personal loan at your local bank, not a chance I'd loan money on a car I cant see, title or no title. I can go get a junk car for $100 with a title, which means the cars only worth $100, not the blue book value of $2500 because the car doesnt operate..
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Old 04-29-2009, 05:14 PM
 
21,720 posts, read 37,184,337 times
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The scenario pgh lays out is 100% correct. You are using the CAR as collateral, not the "paper" that proves you own it. Lenders won't write a mortgage without an appraisal of the property, what you need is an "appraisal" of the car.

Frankly if you have a CREDIT CARD you would probably be better off charging the repairs to that.

If the car is not worth the cost or repairs you not going to get some one to loan you money based on its "value".

I understand that you may not have any other 'assets', but that is way you need to have CREDIT in today's world. In olden times some friendly blacksmith might shoe your horse "on account", and then if you didn't pay-up he'd ask the Marshal for your horse, but my mechanic takes MasterCard, Visa and Discover and generally doe snot sell jalopies that he takes in on barter...
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Old 04-29-2009, 05:31 PM
 
50 posts, read 153,644 times
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Originally Posted by chet everett View Post
but that is way you need to have CREDIT in today's world...
absolutely; that I have but Im all maxed out now. This isnt the first time this has happened. In 2007, I had to repair my car 3 times in 1 month after an accident, yet I had credit and savings backed up to the ying yang to pull me out of it. In fact, its not the situation thats so dire, its the fact my backup has ran dry. The credit I did have was spent on another emergency last month. Its like Im stuck in this whirlwind of misfortunes and its digging a hole deeper and deeper for myself. And its just all happening so quickly, and I have no idea why its happening. Its like having a revolver thats lost its last round. I had bullets, but the clip ran out

So...thats the whole issue. I dont know what to do
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Old 04-29-2009, 05:35 PM
 
Location: San Jose, CA
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Some repair shops offer payment plans.. Napa Auto Care Centers do it for sure, 90 days same as cash.
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Old 04-29-2009, 07:07 PM
 
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Originally Posted by sonarrat View Post
Some repair shops offer payment plans.. Napa Auto Care Centers do it for sure, 90 days same as cash.
Please dont suggest to someone who admits to being maxed out to go out and finance more..
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Old 04-29-2009, 08:34 PM
 
50 posts, read 153,644 times
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They wont give me 90 days same as cash anyway. I can only get a certain amount of credit at the moment, so I wont even attempt to embarrasse myself.
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Old 04-30-2009, 12:52 AM
 
Location: San Jose, CA
6,868 posts, read 16,981,417 times
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Quote:
Originally Posted by pghquest View Post
Please dont suggest to someone who admits to being maxed out to go out and finance more..
When you're desperate, it's worth considering all the options. If he was considering a title loan, which can often carry a 300% interest rate, then mechanic financing would be painless by comparison.
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Old 04-30-2009, 10:32 AM
 
Location: Portland, Oregon
7,090 posts, read 7,232,253 times
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If it costs more then the car to repair it, which sounds a bit like it here, go out and buy a newer car...it makes no sense to get a title loan, at a high interest rate, to fix the junker. You would get a lower interest rate and end up with something that want fall to pieces from some other problem later to do that.
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Old 05-01-2009, 03:16 AM
 
50 posts, read 153,644 times
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Quote:
Originally Posted by subsound View Post
If it costs more then the car to repair it, which sounds a bit like it here, go out and buy a newer car.
negative...

The car is worth atleats 4x as much as the repair. There isnt a way I could go out and buy a newer car. Lots of people suggests that yet they wont help me get the money to do so. If someone suggest I do something that carrys a debt, well for crying out loud they should help take up the slack to pay for it.

And this morning, the title loan place calls me asking if Im ready. I say no, I was hoping to use the loan to fix my car and she says when I get it fixed to bring it back so she can do the loan.

Hell ****ing O! if I was to get it fixed I wouldnt need the loan. My goodness why do people insist on stressing me out further.
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