LOS ANGELES, Calif. (December 20, 2012) - Roughly 200 million Americans have fico scores, and of this number, the average score is 690.
(prHWY.com) December 19, 2012 - California, NY -- LOS ANGELES, Calif. (December 20, 2012) - Roughly 200 million Americans have fico scores, and of this number, the average score is 690 (the number used by the majority of traditional lenders to gauge creditworthiness), according to a Fico.com report released in April of this year. But for the 25 percent of Americans whose fico scores fall below 600, auto title loans provide the opportunity and access to financing where it is otherwise scarce.
"So many people feel embarrassed or concerned about their credit rating," said Gregory Plotkin, owner of Instant Auto Title Loans, a Los Angeles-based secured loans lender. "But many of our customers have a poor credit rating or a very limited history. In our industry, your fico score doesn't dictate the approval process. "
Unlike loans issued by conventional banking institutions, auto title lenders do not place heavy emphasis on a borrower's fico score, that's why auto title loan is also known as auto loan for bad credit or secured loans.
Approval decisions are based largely on the borrower's ability to repay the loan and the amount of equity in a vehicle. Depending on the state where the loan is approved, borrowers may qualify for loan amounts ranging from $1,500 to $50,000.
As conventional lenders continue to raise the bar to qualify for the lowest interest rates on everything from credit cards to home loans, many consumers are left without recourse. For low-fico borrowers, auto loan for bad credit fills this void. "Everyone wants to improve their fico score at some point," Plotkin adds. "Sometimes... you just need time and a little help along the way."
To apply for Instant Auto Title Loans, borrowers can call (877) 562-6019 or complete an
application on the company's website:
http://www.instantautotitleloans.com. Applications are processed 24 hours a day, in both English and Spanish.
About Instant Auto Title Loans:
Instant Auto Title Loans serves the residents of California, Arizona, South Carolina, New Mexico and Georgia. Borrowers enjoy competitive interest rates, flexible payments and no prepayment penalties on a variety of secured loan portfolio products. All loans are made pursuant to a California Finance Lenders License.
Media Contact:
Gregory Plotkin
P: (877) 562-6019
E: InstantAutoTitleLoans@yahoo.com
Address: 18340 Ventura Blvd, Suite 203, Tarzana, California 91356
Tel. No.: 877-562-6019
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