man getting a car title loan

5 Things To Know About Your Car Title When Getting A Car Title Loan

Getting a car title loan is designed to be quick and easy no matter who you are or where you live. Still, that doesn't mean you can approach it unprepared. Loans using your car title as collateral are convenient but they're also legitimate. So, you must know a few things about your vehicle before signing the contract.

What Is a Car Title Loan?

A car title loan is a type of secured loan that uses your vehicle title in exchange for a lump-sum payment. In some cases, borrowers can get as much as $15,000 if they meet the minimum requirements. Plus, they're not forced to give up possession of their car as long as their loan payments are made on time as agreed in the contract.

NOTE: You have to be at least 18 years old to qualify for a car title loan in any U.S. state.

5 Things to Know About Your Vehicle Before Getting a Car Title Loan

Although getting a car title loan is easy, especially if you choose At Home Title Loans to work with, your agent will ask some pretty specific questions to approve your request. So, here are the top five most important things to know before you begin:

1. Make and Model

Knowing the make and model of your car can help you determine how much it's worth. Plus, you can use that information to compare it with other vehicles like yours.

2. Market Value

This information tells you whether you're getting a fair deal when you get a car title loan. There are a number of websites offering a free car value calculator, and this might help you get approximate estimates of how much you could possibly get. Do keep in mind though that the amount may be different, as different factors are taken into consideration when determining your vehicle’s value.

3. Official Lienholder

Find out who legally owns the vehicle and make sure it's your name that's listed on the title. If not, go to your local Department of Motor Vehicles (DMV) to straighten out the paperwork before requesting money.

4. Overall Condition

Your loan may depend on the condition of your car, so take some time to clean it up and/or make any necessary repairs. Meanwhile, try to have everything completed before starting the title loan process.

5. Current Location

Because the agent must inspect your vehicle to determine its value and give you as much cash as possible, you have to show them the car before signing the contract. So, track it down and make it accessible for an appraisal.

Quick Tips to Get a Car Title Loan Today

As long as the title is registered in your name, you can locate the vehicle for an inspection, and your identification checks out, you're most likely eligible for a substantial car title loan. And when banks turn people away for credit scores under 750, this is a rare opportunity for people struggling to make ends meet.

woman holding car title loan cash

A car title loan offers immediate relief when you need it the most. For example, At Home Title Loans lets you start the process at any time online, then your information gets reviewed within few minutes to keep things running smoothly. In most cases, you can get paid within 24 hours.

The average American consumer has a credit score of only about 710 or below, and most people have less than $3,000 in their bank accounts for unexpected expenses, illnesses, emergencies, and/or natural disasters. And if you’re one of them, take the following steps to get your emergency cash ASAP.

1. Start the Process Online to Save Time and Resources.

Gas isn't cheap, and your time isn't free, so complete the short intake form to get the process started right away. It will ask a few basic questions and then ask you to wait for a phone call from one of our representatives. Usually, you'll be ready to sign papers within the hour as long as you begin early enough in the day.

2. Provide Your Items to Get Approved.

The agent in charge of your file will arrive at the location of your choice. Then, they'll ask for the following items to get you approved as quickly as possible:

  • The lien-free title of your vehicle
  • The vehicle itself for a quick inspection
  • Your driver's license or a valid government-issued photo ID

Ask your agent for more details about qualifying today.

3. Sign the Loan Documents

After reviewing your title and ID and verifying the VIN number on your vehicle, the agent will give you a few papers to sign. The rest of documents that need your signature will be emailed to you, and you’ll get your money as soon as the next business day.

Get Your Car Title Loan Today!

With At Home Title Loans, you can get car title loans completely online without worrying about spending time and gas travelling to a store. One of our dedicated agents will drive to met you at whatever place you choose to deliver your loan packet. Get the process started today by filling out and submitting 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.

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.