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Does My Car Title Need to Be in My Name to get a Title Loan?

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Does My Car Title Need to Be in My Name to get a Title Loan?

Does My Car Title Need to Be in My Name?

Yes! At LoanMart your car title needs to be in your name to qualify for a loan. If your car title is not in your name, don’t worry! We can still help you.

Instances where your name may not be on the car title include:

  • When buying a vehicle
  • When inheriting a vehicle
  • When paying off a loan
  • When receiving a gifted vehicle
  • If your name appears but so does someone else’s name.

If you name DOES appear but it has someone else’s name the words between your names makes a big difference. You might have an “and”, “and/or” and possibly just “or”. Example: Julie Smith and Joe Smith verses Julie Smith or Joe Smith. When the title says “and/or” or just “or” between the names, this means that either party can use the title for a title loan. If the work “and” is between the names, then the title loan must be in both party’s names.

 

If your name DOES NOT appear on your car title, LoanMart can help you to change your name on the car title through the Department of Motor Vehicles ( DMV). LoanMart can assist you to go through the process with ease. When you complete the process of changing your name with the DMV you will be able to use your car title to apply for a title loan. This is how to get the process started:

  • Notify the Social Security Administration (SSA) before contacting the DMV.
  • Visit your DMV to update the name in person. Unlike submitting address changes, this should not be completed online or through postal mail.
  • Go to the department with authentic identification confirming your previous name. You will be required to have an acceptable ID. You can check with your DMV’s website for a list of valid forms of proof.
  • Present your existing car title or car registration.
  • Bring the required payment amount to cover any duplicate title or registration fees.
  • If applicable, bring your marriage certificate, divorce documents or court papers issued in the U.S proving you name change.

 

These are 3 reasons why changing your name on the title is easy:

  • LoanMart is committed to provide car title loans to customers from all walks of life. If your car title is not in your name, we can help you to get it in your name before your loan is processed.
  • Keep in mind that DMV requires a change of name notice. You will be only be required to submit a name change for your driver's license. Then, the DMV will automatically update all of your records.
  • The DMV does not only change your name but it also modifies the DMV’s record which will assist you in avoiding any legal confusion. The process of changing your name with the DMV using LoanMart is painless and fast.



How much can I get?

Our specialists will review your application and let you know exactly the amount you can get on a car title loan with LoanMart. The car title loan is determined by the equity of your vehicle and your ability to repay the loan. Car title loans are regulated by federal and state laws. The more equity in your vehicle, the more you could be approved for1. Many of our customers have special financial needs, and they may want money as quickly as possible, especially if it is a financial emergency. Here are some reasons why:

  • Rent
  • Helping out a family member or close friend
  • Paying rent
  • Vacation, holidays, gifts
  • Buy an additional car
  • Buying a house
  • Buying a wedding ring or wedding gift
  • Paying taxes
  • Funeral expenses
  • Emergency medical issues
  • ….and many more unexpected situations!

 

 For the past 15 years, we have helped thousands of customers get car title loans. We accept all types of vehicles for title loans. We simply ask you to show that you are capable of repaying the loan. You can use your vehicle title as collateral for an auto title loan. Isn’t that awesome? We are ready to help!

 

Key Features of LoanMart

  • You can get a free quote without any obligations.
  • We have a same-day approval processes3.  We want you to get your money in the shortest time possible. We understand that an emergency means you need it right now, not tomorrow.
  • We have developed advanced loan application tools such as mobile apps, online account management and web chat portals for our current and potential customers to contact us whenever they need any clarification or are just making an inquiry. These tools have also made our loan application process fast, efficient and simple.
  • It can take about 12-36 months to repay the car title loan. This gives you sufficient time to repay the loan comfortably. We don’t penalize you for deciding to pay off your loan early. It is no surprise that thousands have chosen LoanMart car title loans. The whole process is fast, simple and efficient.
  • We offer competitive interest rates because we understand that not all our customers have the same financial ability. That’s why we don’t have a flat interest rate policy but rather one that is flexible to consider the unique and diverse conditions of our customers.

How to Apply  

Do you want to apply for a title loan with LoanMart? If your answer is yes, you can submit your completed application online, over the phone or drop it at one of our participating stores. The following documents will be required to approve for a title loan:

  • A car title in your name
  • Proof of residence
  • Proof of the ability to cover payments
  • Valid driver’s license or state-issued photo ID

LoanMart is committed to make sure that the process of getting a title loan is easier than ever. We are glad to help you understand the process every single step of the way. Call LoanMart today to see how we can help you.

 

Gerald Weiss is a Senior Accountant at LoanMart. He has a passion for helping people set and achieve their financial goals. He enjoys writing for the LoanMart Blog to share the inside financial knowledge that’s he’s gained over the years. He helps us fulfill our education mission at LoanMart.


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