Apply for a Car Title Loan online fast
By examining the requirements of the selected lender and the state laws, you can get guaranteed approval and quickly deal with any financial emergency.
Most people face financial difficulties from time to time, which can be difficult to overcome. However, no one wants to count pennies just because the phone is broken or you had to pay for emergency medical care. It doesn't matter what situation you find yourself in, as there is a way out, and that way out is a title loan.
If you own a car, you will be able to get a title loan and deal with any difficulties, even if you have a bad credit history. Often, title lenders understand that everyone can be in an emergency, so they provide loans even to people whose credit history is not an example to follow. A title loan is a secured type of lending that enables borrowers to get money quickly at a competitive interest rate. Also, a convenient online application will not only save you time that you spend to get to the lender's store, but also speed up your approval! After reviewing the basic information about a title loan, eligibility criteria, its specifics and more, you will see that this can be one of your best decisions.
What are the requirements for getting a title loan?
First of all, in order to get a loan, you must choose a lender and meet his requirements. While the criteria may vary from lender to lender, some of them remain the same.
- At least 18 years old
- US citizen or an official resident
- Contact details such as phone and email
- Proof of income
- Government issued ID
- Social security number
- Current bank account
Please also note that you must provide documents for the car, which include:
- Original vehicle title with solo ownership
- Current vehicle registration
- Vehicle insurance proof
- Government issued identification matching the name on the title
- Proof of residency matching the name on the title
How do short-term Title Loans work?
There are a few simple steps to help you understand how title loans work and how you can get approval.
- Select a lender and apply. The lender's website has a button “apply online”. When filling out the application, you will need to provide your personal data, such as name, income information, etc. As a rule, the application does not take more than 5-10 minutes. Also, if you have any difficulties, you can always contact the customer support.
- Wait for approval. After the lender has reviewed and approved your application, they will contact you to discuss the details of the loan and its repayment. You will also need to come to the lender's store to estimate the value of your car, which will not take more than half an hour. After signing the contract, you will be able to receive the payment you need.
What is a title loan?
A title loan is a secured type of loan where your vehicle is a loan collateral. Thus, by signing the contract, you transfer the title of the car to the lender. However, after the entire amount with interest has been paid, you can get your title back.
These loans are popular because they do not require a good or low credit rating to be approved. Since the lender holds the title of your car as collateral, you can get a good deal. What's more, you can keep using your car while the loan is being repaid!
Can I get a title loan near me?
As you know, you can fill out an application for a title loan online, but in any case, you will have to go to the lender's store in order for specialists to evaluate your car. This way, you can find a lender near you!
If you have already chosen a lender, then on his website you can find a list of available locations. Also, most sites offer the option "find a lender's store near me" where you will need to enter your address and see where the nearest branch is. With such an option you will save time and be able to get financing faster!
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Title loans FAQ
Can you get a title loan with a bad credit history?
Yes, you can! Since the title loan is secured and you provide the vehicle title as collateral, the lender has a guarantee that you will repay the loan on time. Thus, there is a high probability that your application will be approved even with a bad credit history.
What if I am unable to repay the title loan?
If you want to get a title loan, first make sure you can pay it back. If you have problems paying off your debt, then you risk losing your vehicle. Thus, make sure you can make regular monthly payments.
Can I get a Guaranteed Approval Title Loan?
Typically, no lender guarantees approval to borrowers. When looking through your application, the lender will consider many factors such as credit history, source of income, and more. Thus, you need to meet certain requirements in order to receive money. If, for example, you cannot confirm that you are receiving regular monthly payments, then your application is unlikely to be approved.
Can a title loan affect my credit score?
If you make all payments on time and cover the debt by the due date, this will positively affect your credit history. Note, however, that if you fail to pay off the debt, then you not only risk losing your vehicle, but also damage your credit.