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Is A Title Loan Or Payday Loan The Right Financial Option For You?

No matter who you are, you can get hit with unexpected expenses at any time. When that happens, you should know there is help. offers short-term loans, such as title loans and payday loans, that are meant to help when things pop up you can't quite afford.

A title loan is the ideal option if you own your vehicle outright with a clear title in your name. We also provide payday loans, which may be a better financial option for you. Let’s take a look at each to help you decide which is the right option for your needs.

Title Loan Vs. Payday Loan

Both of these loans are short-term and meant to help in financial emergency situations. But, while they are similar in some ways, they're also quite different. A title loan is great if you need a bit more cash and own a vehicle outright. You can borrow up to $15,000 on a title loan. The loan is backed by the equity of your vehicle. It's a collateral-style loan that allows you a little more time to pay it back.

If you need less or you don't have a lien-free title to your vehicle, you can look into a payday loan. You can borrow up to $1,200 on a payday loan but won't have as long to pay it back. Generally, you'll pay back the borrowed funds when you get your next paycheck. Choose the right financial option for you based on how much extra cash you need, how long you need to pay it back, and whether you qualify for one or the other.

title loan or payday loan the right financial option

Title Loan Requirements

You'll need to provide a few items during the title loan process. Here's all you'll need:

  • Lien-free title in your name
  • The owned vehicle
  • State-issued ID or driver's license
  • Most recent paystub

The most important piece of this is the title. It must be in your name and lien-free. If it is not in your name, you'll have to make an appointment at the DMV to have it transferred.

Payday Loan Requirements

The payday loan requirements are even simpler than those for the title loan. All you need are the following:

  • Most recent paystub
  • State-issued ID or driver's license
  • A blank check from an active checking account in your name

Payday loans are not collateral-style like title loans. We approve these loans based on your ability to pay them back. We look at your income level and an open checking account in your name. Each of these are extremely short-term, so approval amounts are much lower than other types of loans.

Which Loan Type Is Better?

One loan type isn't really better than the other. There may be a loan that is more appropriate for one situation than another. It's up to you to decide which option fits your needs the best. You can submit an inquiry, though, and one of our knowledgeable representatives can help you choose the best fit for your circumstances. 

How Do I Apply?

Our loan process is easy and fast. To get started, you can go to to fill out the inquiry form to receive a call from a loan representative.

During the call, you'll be asked to pick an appointment time to have your documents reviewed and your car inspected if necessary. This can be done in-store or at a location of your choosing if you're doing an online title or payday loan.

Upon the completion of the in-person meeting, if approved, you'll be told what amount you are eligible to borrow. You will then sign a few documents and have your cash deposited that same day or the following business day.

loan agent explaining different borrowing options from title loans and payday loans

How Do I Make Payments On These Loans?

We've tried to make things as easy as possible for our customers. You can make payments right here on our website. It's easy and efficient. If you run into any financial hurdles and expect to be late on your payment or you just can't afford to make one, contact us as soon as possible. Our representatives are well-trained helping clients in any way they can, in any situation.

Don't Wait Any Longer

You don't have to watch bills pile up and fall off track financially. At, we offer a few financial options that may fit your needs. Whether you need a title loan or a payday loan, we can help you. Submit the inquiry form online or give us a call today. Our friendly representatives are looking forward to speaking with you.

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

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.

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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!