While many title loan lenders would prefer you to have a new, paid-off vehicle with low mileage, the good news is that you could still potentially qualify with an older car!
Qualifying for a Title Loan with an Older Car
A car title loan is primarily based upon your vehicle’s value, rather than just your credit score alone. This allows almost anyone with a car to qualify for a loan. So even if your credit has taken a hit, you could still potentially get the money you need with a title loan serviced by LoanMart1.
With that in mind, how much you receive is going to depend upon how much your car is worth. Likewise, how much your car is worth is going to depend upon its year, make, model and mileage.
Other loan options might disqualify vehicles over a certain age, but that may not be the case with title loans serviced by LoanMart. Your vehicle won’t automatically disqualify because it’s older, so there’s no need to worry if you’re not driving the latest model from your favorite manufacturer1.
For example, if you have a 2008 Honda Civic, four-door sedan, you could still potentially qualify for a loan1. The qualification process is quick and easy, with approval decisions available in minutes1.
(To find out if your vehicle qualifies, simply call or complete a short inquiry online. You could be on your way to getting the cash you need today1.)
What Documents Are Needed to Qualify for a Title Loan Serviced by LoanMart?
As a title loan serviced by LoanMart is primarily dependent upon your vehicle, certain documents need to be submitted for verification purposes. The good news is that the process is short, but keep in mind that the quicker the documents are received, the sooner the loan can be finalized.
For example, pictures of the vehicle will need to be submitted for the inquiry process. This is to verify the vehicle has a Florida title and to confirm that you own the vehicle.
Some photos you will need include:
- All 4 sides of the vehicle to show there’s no major vehicle damage (minor damage, such as scratches and small dents may not be a problem)
- The odometer (vehicle’s value partly depends upon the mileage)
- The vehicle’s VIN
The Vehicle Identification Number (VIN) is used to match the vehicle with the title and to confirm the correct vehicle is being used for the loan. The VIN has 17 characters (numbers and letters), and is used to identify the year, make and model of the car as well as its place of manufacture. You can find the VIN on the driver’s side of the dashboard in most cars.
How Can I Submit the Paperwork for a Title Loan?
As soon as you have the documents ready, they can be submitted via several convenient means.
Choose to submit your information by:
- Emailing scans of the documents
The first submission method is to simply email the documents to your loan officer. Since the documents will be in the form of images, you could take the photos using your smartphone and then attach them.
Once received, the documents will be reviewed. If everything checks out, the next step will be for you to receive your money.
It’s Possible to Obtain a Title Loan with an Older Car
With a title loan serviced by LoanMart, it’s possible to qualify for a car title loan despite having an older car1.
A title loan serviced by LoanMart could be the best choice for your emergency cash needs – even with an older car!1 To get started on the inquiry process, inquire online or call!