Title loan inspection

Car title loans and Kelley Blue Book

How does Alabama Title Loans Use the Kelley Blue Book

A car title loan company was created to handle the financial difficulties that Americans often experience in their lives. In the state of Alabama, there are many residents with financial problems and they do not know where to turn for help. You don’t have to worry about your financial situation if you have a bad credit history when applying for a title loan. In fact, title loans have become the ideal alternative to replacing the rigorous rules that traditional banks have, especially for people with bad credit or no credit.

The Requirements

For you to qualify for an Alabama title loan; there are some minimum requirements, which is far less than what traditional banks require. Because your title loan will be secured by your vehicle, you will need a free and clear title with the certificate of title having your name on it. If there is someone else’s name, then you have to do a transfer of title at your local Department of Motor Vehicles. It is a simple process. If you had a loan with a car dealership, the loan balance has to be fully paid off. The vehicle that will be used as collateral cannot have any liens attached to it. The good news for potential borrowers is that the Alabama title loan company allows you to drive your vehicle even after you have had a loan approval and for the duration of the loan term. The only thing that the title loan company keeps is the original title to your vehicle. It is returned to you once you pay off the loan.

The Value of the Collateral

The vehicle is the primary requirement to getting a title loan. In order to determine the value of the collateral, the Alabama title loan lender has to do an assessment of value using the Kelley Blue Book website. Some title loan lenders will ask that a physical inspection be done. However, for the most part, the lender will have you complete a short online form with details about the vehicle. This would include:

· The type of vehicle
· The model of the vehicle
· The VIN number of the vehicle
· The year the vehicle was manufactured
· The existing mileage on the odometer

After this information is gathered, the Alabama lender will input the information into the Kelley Blue Book website and a fair market value will be produced.

The Process

The Kelley Blue Book website assesses the market to find the value based on existing transactions for the same or similar vehicle as your collateral. Most lenders use Kelley Blue Book because of its reliability in providing the closest accuracy as possible. The website only accepts vehicles that were manufactured in the United States. So, if you have a vehicle that is manufactured or imported elsewhere, your vehicle would have to be assessed or appraised using a private source. In terms of imported and exotic vehicles, Kelley Blue Book considers those in the gray market, which means that once the conversion has been made to U.S. currency, the value of the vehicle would be noticeably lower.

The Variables

Some lenders of title loans will also consider the history of the vehicle including whether it has been in a car accident with any sustained damages in recent past. The make and model suggest to the lender that the vehicle is safe and reliable, which means it would be easier to sell in a case where it was on the market for sale. The age of the vehicle is also in question with some lenders giving more leniency than others. The condition of the vehicle is also a factor. If the vehicle shows signs of being well maintained, some lenders will offer more in value. In some instances, if you have done visible upgrades to the vehicle such as the interior and new tires, the value of the collateral may also increase.

Its Popularity

Kelley Blue Book is the most popular resource on the Internet when it comes to establishing a fair market value for your vehicle. However, some lenders of title loans in Alabama will incorporate some of their own rules to find the best outcome for you.

Car Maintenance

5 Steps to Keeping Your Car in Good Condition

Car maintenance is portrayed as being a simple process. Countless advertisements make it seem as though simply pouring some liquid into it will make your car a hyper-efficient, ageless machine. While the process of keeping your car in a good working condition doesn’t have to be a backbreaking task, it is a relatively modest activity to perform the required maintenance and care to make sure your car lives as long as possible. The value of your vehicle is a hidden source of potential, especially when seeking a title loan, where the value and condition of your vehicle are directly related to how much and how quickly you are able to receive the money you need.

Cars that last for hundreds of thousands of miles are usually so long lasting because of how well their owners care for them. Replacing normal wear-and-tear issues that cars face can drastically improve the life of your vehicle. In the end, taking good care of your vehicle is the difference between having a high performance, reliable vehicle, and a rusty beat up junker. It can also be the difference between keeping your vehicle in the family for years to come, and saying goodbye to the family car years before its time was up.

Check Your Vehicle’s Fluids and Tire Pressure: This is a task that will require very very little of you. To check the oil, simply open the hood (make sure your car’s cooled down first though!) and pull out the oil dipstick. Wipe it clean with a rag, and then reinsert it. Pulling it out again, check the level of your oil tank. Engine oil is arguably the most important fluid in your vehicle. While you’re there, check the brake cylinder reservoir and the radiator overflow reservoir levels, and give a look at the hoses and belts to make sure you’ve got no signs of wear or at least impending failure. It’s also a good idea to look at the air cleaner, and transmission fluid level after warming up the car. To check the tire pressure, use a pressure gauge on cool tires to make sure each has a passable PSI reading (an exact measurement can be found in the owner’s manual). In earnest, these checks should be done at least every two weeks, but if it’s a month between your examinations, don’t stress.

Take it Easy on Your Vehicle: In about 5 hours, your vehicle’s engine has cooled off to the point of having no oil lubricating it’s many moving parts. Within a few seconds of startup, however, the oil pump will have properly lubricated the engine. Give your engine a good 30 seconds to prepare for your cruise, and your engine will thank you.

Follow the Vehicle Service Schedule: The manufacturer of your vehicle will provide a recommended schedule for performing maintenance and seeking professional advice on your vehicle. With the advent of automatic monitoring systems in some newer models, there’s no excuse for improper maintenance.

Listen for Odd Noises: Now and again, it’s good to turn down the radio, both when idle and when in motion. Any clicks, squeals, scraping or grinding should be carefully inspected. The first place to check is usually the breaks, or else the tires. Any odd noises you are unable to pinpoint should be brought to the attention of a mechanic immediately.

Drive Carefully: This is one of the most important tips to keeping your vehicle up and running as long as possible. Constantly flooring it and slamming on the brakes will make all of the normal wear and tear on your vehicle happen exponentially faster. It also helps with fuel economy. Of the conscious things you can do to improve your vehicle’s life is to take it easy.