Auto Loan FAQ

  1. What is a title loan?
    An auto title loan is a loan for which you only use your vehicles title as collateral. So you continue to drive your car while getting cash for the value of your car. You must have a clear California title.
  2. How to apply?
    The easiest way to start is to apply on our website. If you prefer, you can give us a call or contact us through our website requesting a credit application by email or regular mail. Once you complete the application you can return it to us by fax or email or regular mail.
  3. How long does it take to know if I’m approved?
    The application will take you just a few minutes to complete. We can usually get a decision to you within 1-2 hours during regular business hours.
  4. What’s next after receiving an approval?
    You will need a recent paystub, recent utility bill with your name and address, references and valid I.D. Once these are submitted to EFG and verified, you will be ready to set up a meeting to receive your check and sign your loan contract.
  5. What kind of condition does my vehicle need to be in?
    Since the loan is based on the current value of your car, it should be in running condition.
  6. Do I need to put any money down to get a loan through a private party?
    Yes, we usually require about 20% of the selling price for a down payment. So if the selling price is $10,000 you will give the seller $2,000 and we’ll give them a cashier’s check for $8,000.