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What Is An Online Car Title Loan?

Finances are an essential part of life, and an important aspect of finances is emergency planning via an online car title loan. While everyone hopes their nest egg will be enough to help recover from an emergency, there may be times when alternative options are worth considering. Here’s what an online car title loan is and how it can help you. 

An online car title loan is a secured lending option that can let you access as much as $15,000 for emergencies. This money can be used for repairs, urgent bills, important business travel, and more. They work by using your title as collateral, which protects the interests of the loan and can help you secure one even with bad credit. 

There are a number of ways an online car title loan can benefit you, but knowing what they are, when to use them, and how they work are all important. This article will give you our in-depth guide to these borrowing options to decide when they’re right for you.

Explaining Online Title Loans?

A title loan is a secured version of a loan, meaning that in order to get one, you need to put up an asset to protect the loan. In this case, that’s your car title. The title is used as collateral, meaning that you allow the lender to place a lien, a temporary legal claim of ownership, against it to secure the loan.

title loan contract and car key

The lien is removed when the loan is fully paid in full, and the best part is, you can still drive your car as usual while making payments. This type of loan allows you to access the money you need quickly without the hassle of a long application process. And to make it even more convenient you can get started online with a simple request form. 

Again, since the loan is secured by your car title, you generally get access to larger sums of money than you would otherwise with an unsecured loan.

Where Does the ‘Online’ Come in?

The online portion of a title loan simply indicates that you can get some of the preliminary paperwork done online. When you do, you save yourself time during the loan request process. Of course, you’ll still need to have your car and required paperwork inspected, which is true across the board with all lenders.

With Title and Payday Loans you will have access to a vast network of lenders who work to facilitate this process as quickly as possible so you can spend less time wading through paperwork and more time dealing with your emergency.

What Do I Need To Get A Loan?

In order to get a title loan, you’ll need the following: 

  • Your driver’s license or state-issued ID – Confirming your identity is an important and required step, so make sure you bring your DL, passport, or other ID issued by the government with your photo.
  • Your lien-free title – A prior lien means another party has a claim to the vehicle, leaving the borrower with no incentive to repay the title loan. As such, Title and Payday Loans politely request that you remove any prior liens before you apply to get a loan.
  • Your vehicle – The amount you qualify for is almost exclusively determined by the value of your car. A more valuable car, obviously, indicates a higher risk undertaken by the borrower, making them more incentivized to repay the loan. Cars that are new, well-maintained, and have low mileage will get you more money from a title loan. Of course, you should always only apply for what you need.

How Can I Get Started?

Ready to take control of your short-term finances? Here’s how you can get started. First, complete the inquiry form online, and Title and Payday Loans will connect you with a reputable vendor to walk through the rest. Their network of licensed vendors will see you through the car title loan process to get your urgent cash.

woman approved for car title loan online

Wait for a call from your vendor, and they’ll go over the entire process, answering any questions you might have. While on the phone, you’ll need to book a meeting to review your required items (remember, that’s your ID, clear title, and vehicle).

Attend the meeting with these items, and the associate will go through the brief 5-minute inspection process to make sure everything checks out. If you’re good to go, you can get the money you need that same day or the next business day!

Submit Your Application Today!

If you’re interested in an online car title loan, it might be the short-term financial opportunity you are looking for to tackle expenses, bills, and/or debts. Whatever the case may be Title and Payday Loans is here to help with a network of trusted lenders, a lightning-fast loan process, and excellent customer service.

Feel free to ask any questions you may have at any time during regular business hours, and an associate will be happy to answer. If an online car title loan seems like you’re a good fit for your situation, then get started online today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.

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Qualify for a Title Loan or Payday Loan Today!

You can be approved for title loans or payday loans in as little as 30 minutes! After approval, our licensed vendors will arrange for you to get your money—up to $1,100 for payday loans or $15,000 for title loans. Fill out the simple, free online form now, and we will get you in touch with a lender's loan store near you to complete the process. Qualify and get the fast cash you need for emergency expenses as soon as today!