Everything You Need To Know About Your Car Title
If you own a car, you probably know what a car title is. Despite this being an important document, a lot of people don't know too much about it. Most people just keep their title in a safe place, barely paying attention to it until they need to sell or get rid of their vehicle.
On this page, we are going to talk about some of the most important things related to your car title. We will then wrap up by talking about how you may be able to borrow cash against the title to your vehicle.
Here’s What You Should Know About A Car Title
What Is A Car Title?
A car title is a legal document. The name on the title is the legal owner of the vehicle. So, it is proof of ownership. If you purchase a new vehicle, then the title will be issued in your name. If you purchase a used vehicle, then the title needs to be transferred to your name.
A car title contains such important information as:
- Name of the owner
- Vehicle model
- Vehicle color
- Details of any buyers and sellers of the vehicles (including names and addresses)
- Odometer readouts when the vehicle was sold
If you don't have a title to your vehicle, then you have no proof that you own the vehicle. This can make selling it difficult and borrowing cash against your vehicle's title impossible.
How To Get A Title For Your Car
If you don’t know how to get a title for a car, just keep this simple formula in mind: you get a title when you buy a vehicle. If you have purchased a used vehicle, then its previous owner will transfer it to you.
You can also obtain a replacement title if yours has become damaged or lost. Titles can be obtained by heading to the DMV and filling in a special form. You will need the following documents:
- Photo ID. Must be government-issued.
- Proof you own the vehicle. This will normally be a bill of sale.
- Proof you have insurance on the vehicle.
- Your completed title application form.
- A check to cover any fees (these can vary based on whether you are applying for a new title or a replacement)
In rare cases, you may also be required to provide safety reports.
Obtaining a car title can either take a few hours or several weeks. It depends on why you are looking for a car title, as well as the state in which you are obtaining a title.
What Is A Lien On A Car Title?
When you have a lien on your vehicle, it means that a lender, typically a financing company that provided you with the cash to buy your vehicle, has noted on your title that you have borrowed cash. The lien is a signifier that the lender has a stake in your vehicle until you have repaid the full amount. Other entities can add a lien to your car title too e.g. fines, although these are somewhat rarer. The liens should be noted on your vehicle's title. If they aren't, then the DMV can tell you of any liens that you have.
How Are Liens Removed On A Car Title?
When you have repaid any financing, then the lien holder will contact the DMV to remove the lien. If they do not, then you must prompt the lien holder to go through the process. They cannot have a lien on your car title unless you owe them something.
You Can Get up To $15,000 Cash For Title
If you’re an outright car owner and paid off your vehicle in full, you may be able to get cash for the title with at-home title loans. Here’s how title loans work: they allow you to borrow cash against the value of your vehicle. With At Home Title Loans, this can be up to $15,000. Cash for a title is essentially a secured loan type where your title serves as collateral. This means that the amount that you can borrow will be determined (mostly) by how much your vehicle is worth. The more your vehicle is worth, the more you may be able to borrow.
These loans are designed for emergencies. At Home Title Loans does not have any income requirements and can consider you if you have a less-than-perfect credit history. Our main concern is how much your vehicle is worth.
If you already have the title to your vehicle, then the inquiry process for a title loan can take as little as 30-minutes. It all begins with filling in a short form on our website. You will then have a chat with one of our staff members on the phone. They will run you through a bit of information and after a few checks, let you know how much cash you may be able to receive.
After the phone call, you will meet us in person. We will inspect your vehicle and check your documents. The next step is putting your e-signature on the documents that will be emailed to you. You’ll get your cash on the next business day.
Get A Car Title Loan Today
Your car title is an incredibly important document. If you do not have a car title, then we suggest that you look into how to get a title for the car at your local DMV. If you do have a title, then you may be able to use it to borrow emergency cash. If you would like to get a title loan online, reach out to us at At Home Title Loans today either by phone at 800-514-2274 or by filling out a short inquiry on our website.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.