Vehicle Requirements To Qualify For A Title Loan

You only need to meet a few requirements to get a title loan with help from At Home Title Loans, and some of them revolve around your vehicle specifically. That includes having a lien-free car title and bringing the car in for a quick physical inspection.

This quick guide will walk you through each of the vehicle requirements you must meet to qualify for a title loan. You’ll also discover the other required documents for that loan and what to do if the title is in someone else’s name.

What Are The Vehicle Requirements For A Title Loan?

Taking a few moments to understand title loan requirements before getting one is always an excellent idea. Aside from the necessary documents, there are also a few requirements the vehicle must meet before you can get one of these loans. Here are the vehicle requirements to qualify for a title loan:

1. Clear Car Title

The first and most crucial vehicle requirement to qualify is having a clear car title. That means your title must be lien-free and clear from any outstanding loans or judgments against it. Suppose the title isn’t clear.

In that case, you must first settle all outstanding matters on the vehicle before you can use it to borrow money. The title must also be registered in your name, meaning the vehicle belongs to you and you can use it as collateral to secure a title loan.

2. Valid Title

The next thing your vehicle needs is a valid title with accurate information. You must double-check your vehicle title and details to ensure accuracy. Doing that will help to prevent avoidable delays when qualifying for a title loan.

3. Updated Auto Tag

With a clear car title and valid registration, it’s time to check your tags. Having an updated auto tag is just as important as the requirements mentioned above.

4. Car Has Market Value

A title loan lets you quickly borrow up to as much as $15,000 cash. The amount you qualify for will depend on your car’s market value. That’s why an important vehicle requirement to qualify is that the car must have some market value.

Don’t worry, though. A representative will assess your car’s value as part of the process to get a title loan. As you’ll discover below, they’ll perform a physical inspection before referring to a nationally recognized price guide.

Once that’s done, they can tell you how much your car is worth and, by extension, if you qualify for the loan and for how much. In the meantime, you can take a few steps to maximize your car’s value, such as the following:

• Maintenance: Keep your car’s value as high as possible with regular maintenance. Stick to its maintenance schedule, change its fluids when you should, and replace parts when needed.
• Deep clean: Regular cleaning delays wear which contributes to your car’s value, and the occasional deep clean is also essential.
• Address issues: Lastly, fixing any problems your car is experiencing while they’re still small is always best. That way, those problems don’t become major issues that reduce the car’s value.

5. Physical Inspection

Successfully completing a physical inspection is the final vehicle requirement to qualify for a title loan. A representative will check the car’s physical condition for a few moments. Once that’s done, you’ll get to drive your car home regardless of the outcome.

Other Requirements For A Title Loan

Meeting the vehicle requirements above is crucial to qualify for a title loan. Once you've met all of the requirements, you're ready to proceed! Here are a few other requirements to meet, which are:

• Minimum age: You must be at least 18 years old to apply.
• Identification: You must provide a valid driver’s license. If you don’t have one, another state-issued photo ID will also be acceptable.
• Any credit: You can qualify for a title loan regardless of whether you have good or bad credit. So, don’t let that stop you from going through the process of getting a title loan.

What If The Car Title Is In Someone Else’s Name?

Suppose your car title is registered in someone else’s name. In that case, you must first visit the DMV office to transfer that title into your name. Having that title in your name means you can use it as collateral for a title loan. In other words, the sooner you do that, the quicker you can get started!

Get Started Now!

Now that you know the vehicle requirements for getting a title loan, you can start the loan request process right away. Reach out to At Home Title Loans by submitting the secure inquiry form with your information and wait for a phone call soon after. A loan specialist will discuss your financial needs before connecting you to a licensed loan vendor in your area who can help you complete the rest of the process!

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