Online Title Loans: What You Need To Know Before Applying

Getting an online title loan can help when you’re in a financial bind, but there are a few things that you should know before you begin the process. Title loans can help in a variety of circumstances, but it’s always a good idea to make sure you are informed before you take out any kind of loan.

Below, you’ll find some top facts about getting a title loan and everything you need to know before you begin our process, so read on to learn more!

What Should You Know About Title Loans?

1. They’re Based On Your Car’s Value

Worried about a poor credit score or convinced that it will reduce the amount that you can borrow? You can put that concern to rest; title loans are not particularly dependent on your credit rating, and you may be eligible for a good loan even if your credit score isn’t high. Instead, the kind of loan you can get is based on the car you have.

Our lenders assess the car’s value according to its make, model, age, and condition. That means that a high-end car in great condition will be worth more than the same car in poor condition, or a very old vehicle. It also means that you may be able to borrow a chunk of money even if you don’t have a good credit rating or other assets.

You also can able to improve the car’s valuation by ensuring that it’s in good condition when you apply for the loan – even a quick wash and detail can help.

2. You Keep Your Car

Unlike selling your car to release its value, a title loan is based on using your car as collateral for the loan. That means that you keep the car and you can drive it as normal provided you meet the repayment schedule that you agree to with the vendor. You can discuss the terms with them before you accept the loan.

Many people find that this is a useful way to get some cash without having to give up the vehicle that they depend upon for transportation, making this a viable solution for raising funds.

3. They’re Quick

Speed may not be everything, but in many circumstances, being able to get money fast is key. That’s why we work with vendors who ensure fast turnaround times after a loan has been approved.

You don’t have to wait weeks for the money to clear and go into your bank account; this will happen promptly if you are eligible for the loan. The process tends to be quick, and we put you in touch with a vendor very soon after you register your interest with us.

What Paperwork Do You Need?

Of course, it’s important to have some paperwork in hand before you start the process of taking out a title loan – but our vendors don’t require a huge amount. You must be able to show some state-issued photograph ID, plus the title for the vehicle. Note that this title must be registered in your name and lien-free in order to be eligible for a loan. If it’s not, you’ll have to get this taken care of before the vendor can proceed.

However, that’s usually all you need! The vendor will invite you to a meeting so that they can inspect the vehicle: you should bring two documents along. In many cases, they will be able to meet you at a place that’s convenient for you, so let them know what meeting point you would prefer, and they should usually be able to help.

You won’t normally need any other kinds of paperwork for a title loan, but if you’re unsure about anything or you don’t know if your identification will be accepted, fill in our online form at TitleAndPaydayLoans.com to get connected with a vendor, and then double-check with them. They will be glad to answer any questions you have!

See If You’re Eligible

If you’re ready to get an online title loan from one of our helpful vendors, all you need to do is fill in our online form at TitleAndPaydayLoans.com to start the process and register your interest with us. You will soon receive a call from one of the professional lenders we work with, and they can discuss your needs with you in full, as well as talk you through their process and answer any questions you might have.

Getting an online title loan can be straightforward, and now that you’ve run through our simple list of things you should know first, you’re in a good position to start. You could be eligible for a good chunk of money, depending on your circumstances and the vehicle that you wish to borrow money against. To find out more, reach out to us 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.