Find the Best Car Title Loans in San Diego, CA

How to get a title loan in San Diego

Both title loans and payday loans are short-term, high-interest types of borrowing meant as temporary financial solutions. But they are not the same; a title loan is secured, authorizing the lender to take possession of the borrower’s vehicle if the loan isn’t repaid. Title loans in San Diego also make it possible to borrow considerably more money.

With a title loan in San Diego, the amount you’re able to borrow depends on the value of the vehicle. The borrower surrenders the title to the car and gets it back once the loan is repaid, including interest and fees.

California caps interest on consumer loans up to $2,500, but 99.99 percent of title loans in the state exceed that threshold, allowing lenders to set their own borrowing costs; in 2013 a majority of title loans in California had annualized interest rates of 70 - 100 percent or higher.

Applying for a title loan in San Diego is done either online, over the phone or in person. The requirements may vary slightly from lender to lender, but in general you must:

• Be 18 or older
• Have a valid ID
• Own a vehicle with a clean title
• Have proof of income
• Have proof of residency
• Have proof of vehicle registration

The title loan company in San Diego may run a credit check, but good credit is not required.

California urges borrowers to exercise caution when considering title loans, not least because you risk losing your vehicle if the loan isn’t repaid on time. Before signing a contract, carefully review the terms of the loan and make sure you understand the interest charges, the annual percentage rate and all fees.

Borrow only what you can afford to repay, and consider cheaper alternatives first. If you do decide a title loan is appropriate, start by looking at the companies on this page.