About Fast Title Lenders
Fast Title Lenders started in 2016 in Herndon, VA as a title lender. At that time we were newcomers to the industry and learned everything we know today about title loans by spending several years making and servicing title loans as a direct lender. During this time we became experts on everything related to title loans through direct first hand experience as a lender.
Now, we are sharing what we learned with our visitors to provide them with the information and knowledge needed to navigate the often overcomplicated title loan landscape. We’ll simplify where we can, and where we can’t we’ll explain the overcomplications, all in an effort to help borrowers get the best title loan and avoid the worst.
About our Experience
Our first step when we started was to be a title loan customer. We visited several title loan places as a customer, and were immediately surprised by the lack of reliable information available to title loan customers. We found it extremely difficult to find information – especially cost related information. As a customer this was frustrating and surprising. Just about every other industry we knew of advertised their prices. Title loan companies did not which made it very difficult to choose one over the other.
As a result, one of the first things we did was build our title loan calculator. This was a first in the industry and quickly copied by just about everyone. Today, almost every title lender has a page on their site called a title loan calculator. Not all of them actually work or provide any real information – but they exist anyway.
We decided the industry needed a company that provided real title loan information, based on real experience, to help borrowers find the best solution for their situation. We stopped making direct loans and focused on providing real and accurate title loan related information to help educate borrowers and answer questions based on our first hand experience. This offers a unique perspective that others can’t. We have:
- Made title loans
- Serviced title loans
- Helped customers get title loans while still making payments
- Charged late fees
- Forgiven late fees
- Helped customers sell their car with a title loan
- Helped customers trade their car in with a title loan
- Sent loan default notices
- Helped customers cure defaults
- Repossessed vehicles
- Returned repossessed vehicles
- Sold repossessed vehicles
- Dealt with customers that hid their vehicle to try to avoid repossession
- Dealt with Insurance companies after a vehicle with our lien was in an accident or damaged.
- Added liens to titles
- Removed liens from titles
One Stop for Title Loan Information
Today we are your one stop shop for title loan information. We share what we learned in the business as a lender. We know what it is like to be a title lender, and we know what it is like to be a title loan customer. We know what lenders share with customers, and what they don’t. We are the only company we know about that regularly shares this type of information with borrowers.
Our goal is to provide our visitors with enough information to help you learn more about title loans so that you can identify a better online title loan company that is honest and transparent when you see one. The fact is title loans are expensive; even the discount or lower rate title loans can be more expensive than many other forms of credit.
Trying to hide the costs to be able to charge more does not inspire confidence or trust with customers. In fact, it usually does the exact opposite.
We are transparent, care about our reputation, and provide customers with a wealth of title loan related information to help get the best possible loan.
Being prepared for getting one of these loans is one of the most effective ways to ensure you get the best title loan for your situation.
Online Car Title Loan Experiences:
Many of us have either had a title loan at one point, or know someone who has. And, unfortunately, many of us have either had a bad experience with a title loan, or know someone who has.
We talked to many customers and concluded that the majority of these bad experiences tie back to two main elements:
- Cost – most bad experiences had to do with the actual cost of the title loan; and, more specifically, not fully understanding how much the loan actually cost on the date it was made.
- Customer service – other experiences related to customer service. This included a lack of communication and timely servicing resulting in delays receiving a title.
Unfortunately, the rates some lenders charge, combined with their approach to customer service, has led to a negative stigma in the industry. This negative stigma is often capitalized on by competitors to title lenders.
Solutions, Not Problems
A car title loan should be a solution to a short term financial difficulty, not the beginning of a long term financial problem. We do our best to ensure that is the case.
If there is a better option than a title loan, then you should absolutely go with that option. In fact, we do our best to provide alternatives and write about them. Additionally, our car title loan costs article shows how excessive the cost can get; especially when the loan term is extended.
Understanding how costs are calculated, how interest accrues daily, and how the loan term (length) affects the cost is essential to getting a title loan that is the best fit for your situation.
If you are new to title loans, it is important to understand how they work. They are very different than many other loan types and the way they work varies from state to state and lender to lender.
Information is Key to a Positive Experience
The more you know about online title loans, title pawns, auto equity loans, and every other name used to describe a loan secured by your vehicle, the better off you will be when shopping for one.
Understanding online title loans, how they work, and what they cost, will help ensure you are in a better position when you’re ready to sign a loan agreement.
As previously stated, many bad title loan experiences stem from not understanding the total cost of the loan when signing the loan agreement. This is why preparation is critical to getting the best title loan.
We provide a variety of information on our site to communicate this information to consumers looking for a better title loan.
Our car title loan calculator lets you compare different interest rates and terms and see how they affect the monthly payment and total loan cost. It is the first of its kind and still the best one available.
We have published numerous posts detailing everything from how to value your vehicle to how to read a Truth in Lending Statement.
Having this information, before signing a loan agreement, will make you a more informed customer. An informed customer, in our opinion, is the best customer.
This will help to ensure there are no surprises after you get your loan. No surprises equals a better title loan experience.
With the addition of more options available online the requirement to find a title loan near you is less important than even a year or two ago.
While the closest title loan is certainly convenient, it is not necessarily the best.
The goal should be to find the best title loan. If it happens to be the closest title loan place then even better.
Cost and Interest Rate transparency
We found first hand that it can be difficult to find out how much a title loan will actually cost. This is a major factor in making a decision to move forward with a title loan. Cost and rate transparency are critical elements to the best title loan company.
As a customer, it can be difficult to get an actual title loan estimate or sometimes to even find out the approximate interest rate a company charges.
Considering this is a major factor in dictating the actual cost of the loan, we think it should be made clear and available to all customers.
Contact Us
Need more information about car title loans and how they work? Have a unique question that you can’t find the answer to? Chances are we have experienced it. Feel free to contact us directly 24/7.