How Does a Title Loan Work in Little Havana?

As the name would suggest, title loans are that use the title of your vehicle to secure funding. This essentially means that the equity of your vehicle matters in the loan approval process, as the value of the car determines how much funding you could potentially receive.

If you would like to talk to a qualified loan specialist to discuss your financial options now, feel free to call at 866-983-4644

When using collateral to acquire a loan, two different things will happen:

  1. Your car title will have a lien placed on it, which is removed upon repayment.
  2. The loan becomes a secured loan.

Secured loans, like title loans, offer several benefits for the borrower, such as:

  1. Potentially More Funding
  2. Those with Poor Credit May Qualify1

Can I Keep My Car if I Get a Title Loan in Little Havana?

One concern you may have during your search for a title loan is if you’ll be able to keep your vehicle or if you must give it up during repayment.

While this is a valid concern, you do not need to surrender your vehicle when you choose a title loan serviced by LoanMart!1 Although you are using the title of your vehicle to secure the loan, you won’t need to rely on ridesharing apps to get where you need to be.

What are Requirements for a Title Loan in Little Havana?

During your loan search, you may wonder what the requirements are for a title loan in Little Havana. The exact requirements will change depending on the area you live in, but residents of Little Havana will generally need to meet three requirements.

  1. Be At Least 18 Years of Age
  2. Own a Vehicle in Your Name
  3. Be Able to Provide Proof of Income

What Documents are Required for a Title Loan in Little Havana?

In addition to the initial requirements for a loan, there are a few documents you’ll need to have handy in order to apply for a title loan in Little Havana.

You can reach a knowledgeable loan specialist to discuss your financial options by calling 866-983-4644!

In order for a loan agent to determine your eligibility, they will need to know:

  1. Your Ability to Repay the Loan
  2. The Value of your Vehicle

While the necessary documents can vary based on the state you’re currently in, residents in Little Havana will need to show the following:

  • Vehicle Title: The title must be in your name and must meet the qualifications. The car you intend to use as collateral must have a certain amount of equity to qualify.
  • Photos of Your Vehicle:  A loan agent will require you to submit photos of your vehicle. You’ll need to include all four sides as well as the VIN and odometer.
  • A Government-Issued Photo ID: This could be a driver’s license, state ID, or passport.
  • Proof of Residence: A rental lease, home title, bank statement, or utility bill.
  • Four References: These can be personal, professional, or both.
  • Proof of Income: You can show recent paycheck stubs, or other legitimate documentation. If you do not have traditional income, alternative forms could be acceptable as proof of income.

How Do I Get a Title Loan Online in Little Havana?

Instead of waiting for hours in a bank, you could get your title loan online! With a title loan serviced by LoanMart, getting a loan online can take just three steps in Little Havana!1

  1. Fill out a Loan Inquiry Online: To get a head start on your loan, you’ll need to start by filling out a loan inquiry form online. This form will only take you 5 minutes to complete, as it simply asks for information about your vehicle and your contact details.
  2. Submit the Required Documents: In addition to the online form, you’ll need to submit the required documents to a loan agent. This can be done through email or fax for your convenience!
  3. Get Your Money: After you’ve submitted everything, a loan agent will contact you about an approval decision. Then, all that’s left to do is sign the agreement and get your money!