How Do I Qualify for a Title Loan in Fayetteville, North Carolina?

Getting a car title loan in Fayetteville, North Carolina, does not need to be complicated. In fact, the approval process can be simple and convenient!  A title loan can be secured by an applicant pledging the title to a car, truck, or other vehicle as collateral. A loan application can take place online and over the phone at the applicant’s convenience. 

However, to qualify for auto title loans in North Carolina, you must also meet a few initial requirements during the application process. 

Contact a title loan agent from LoanMart at 833-910-2140 to learn more about the loan process. Title loan agents are available six days a week to answer your call and walk you through the loan request! 

What are the Requirements for Online Auto Title Loans in Fayetteville, North Carolina?

Generally, the approval rates for car title loans can be high due to the flexible requirements and easy application process! 

To qualify for a car title loan, you must meet these initial requirements:1

  • Have a Vehicle Title in Your Name
  • Demonstrate Your Ability to Repay a Title Loan in North Carolina
  • Have Enough Positive Equity in Your Car
  • Be 18 Years of Age or Older 

You may worry about having the “right” job to prove you can pay off an auto title loan, but don’t stress! As long as you have an alternative form of qualifying income, you could still meet the income requirement for a title loan in Fayetteville, North Carolina.1

What if you don’t know anything about vehicle equity? That’s okay! Fortunately, an online calculator tool is available for title loan applicants to quickly obtain an estimate with a quote, free of obligation. To use the calculator tool located on LoanMart’s website, you will need to provide some basic information about your car. Once you acquire an estimate, you can proceed with your loan application.1 3

Do I Need Documents to Apply for North Carolina Title Loans?

In addition to meeting the initial requirements, you must submit a few documents as part of the loan process. These documents can help title loan representatives from LoanMart verify your information and move the approval process along! You could find the necessary documents around your house, in your car, or even in your mailbox.  

You can expect to need the following documents once you’re approved for a title loan: 

  1. A Car Title in Your Name
  2. Pay Stubs, Bank Statements, or Another Document to Prove Your Income
  3. Recent Pictures of Your Vehicle
  4. A Passport, Driver’s License, or Another Valid, Government-Issued ID
  5. Recent Credit Card Statements, Utility Bills, Rental/Lease Agreements, or Mortgage Statements to Prove Your Address
  6. Some Professional or Personal References

One of the biggest conveniences of a title loan serviced by LoanMart is that these documents can be submitted online during your application! If you meet the initial requirements and send the proper documentation, you could receive quick funding in as little as one business day![3

Don’t forget to contact a title loan agent from LoanMart at 833-910-2140 if you have questions about car title loans.

How Can I Get a Car Title Loan Without a Bank Account?

Sometimes, a lender will ask for your bank account number to know where to send your funds after the application has been approved. However, applying for a car title loan without a bank account is possible. As long as you can prove your income without bank statements, you could still get an auto title loan serviced by LoanMart without a bank account!1

While you are required to provide proof of income when applying for a title loan, it does not need to be a bank statement. There are many ways to earn a living in today’s day and age. 

Here are some acceptable sources of income: 

  • Social Security / Supplemental Security Income
  • Worker’s Compensation
  • Retirement Income
  • Annuity Payments
  • Child Support / Alimony 
  • Pension Income
  • Settlement Income
  • A Job

Here are some examples of documentation you can provide other than a bank statement during a title loan application:

  • Paystub
  • Earnings Statement
  • Pension Plan Statement
  • Letter From Your Employer
  • Disability Award Letter

Questions? Feel free to call a title loan agent with LoanMart at 833-910-2140! Whether you have a bank account or not, it’s still possible for you to qualify for an auto title loan in North Carolina. 

How Quickly Can I Receive My Title Loan Funding in Fayetteville, North Carolina?

Discover Online Title Loans in Fayetteville, North Carolina
Source: NORTH CAROLINA JUSTICE CENTER (for informational purposes only)

Upon approval, you could access funds in as little as 24 hours if you qualify for a title loan serviced by LoanMart! In some cases, you may receive loan approval the same day you apply.1 3

Individuals struggling with a financial crisis do not have a lot of time on their hands.  When North Carolinians need funds to pay their rent or other expenses, they do not have any time to waste.  If you’re in the 17% of North Carolina residents behind on rent, you need a loan that can keep up with your financial needs and time constraints. 

Want to see if you qualify for North Carolina title loans? Apply online through the website or dial 833-910-2140 to speak with a title loan agent with LoanMart today. Qualified borrowers could get their quick funds in as little as 24 hours!3

What are the Benefits of an Auto Title Loan in Fayetteville, North Carolina?

Borrowers could anticipate exclusive perks when applying for a car title loan serviced by LoanMart in North Carolina!1

Bad Credit is Not Always an Issue

It can be tough to obtain approval for an unsecured loan if you have a bad credit score. Yet, credit isn’t the most important factor in the approval process for auto title loans. While title loan lenders may consider your credit history, you could still obtain a title loan even if your credit isn’t perfect. Since collateral is used to secure the loan, borrowers from different credit backgrounds could potentially qualify for a car title loan!1

Apply Online 

In the digital age, it can be easier to balance life’s responsibilities when you can apply for a loan online. Thankfully, you can start your application for a title loan serviced by LoanMart from the comfort of your home!1

It is not necessary for you to find a physical location in your area or spend hours searching for a loan online. Get started by filling out this short pre-approval form on the LoanMart website today.

Keep Driving Your Car

Even though you’re using your car title to secure your loan, you could continue to drive your vehicle as long as you’re on time with your monthly payments!

Easy Repayment Options

Failure to repay your title loan funding can result in the repossession of your vehicle.

So it is important to prioritize your title loan payment each month. Luckily, a  borrower of a title loan serviced by LoanMart has a wide range of repayment options available to them!

With an auto title loan serviced by LoanMart, you can choose between these options:

  • Set Up Automatic Payments
  • Mailing a Check to the Payment Center
  • Pay by Phone
  • Pay Online Through Your Account
  • Pay On Your Phone With the LoanMart App
  • Or Visit a Participating Money Transfer Location in Fayetteville to Pay in Person

No Hidden Fees

Some lenders will stun borrowers with hidden fees they did not anticipate. Typically, those fees can lead people to a worse situation with more debt. But with a car title loan serviced by LoanMart, you wouldn’t have to struggle with any hidden fees or balloon payments.  You can also repay Fayetteville title loans as early as possible, since there are no prepayment penalties.5

Flexible Approval Process

The approval process for car title loans is generally more flexible since collateral is used to secure the loan. The collateral for a car title loan is your vehicle’s title. Therefore, you don’t need a perfect credit history to qualify. Online title loans serviced by LoanMart can be a more flexible option for borrowers from various financial backgrounds!1

title loans fayetteville

What are the Risks of Getting an Auto Title Loan in Fayetteville, North Carolina?

Although car title loans can be a good option to consider if you need emergency cash, you may wonder if they have any drawbacks. The truth is that just like any other type of loan, a title loan could have some potential risks. However, you could avoid some of these risks if you’re a responsible borrower! 

Here are some of the risks associated with getting an auto title loan in Fayetteville, North Carolina:

  • High Interest Rates: One of the risks of a car title loan can be the possibility of high interest rates that are tough to repay. However, with an auto title loan serviced by LoanMart, qualified borrowers can access competitive interest rates.1
  • Vehicle Repossession: As you may have read previously, a title lender can repossess your vehicle if you default on your loan. But that is usually the last resort for many lenders, as it can be challenging for them to arrange a repossession. Instead, a title lender would prefer to find an alternative solution with you. The most important thing to do is communicate with your lender before you default. ​​Defaulting on a loan means you have failed to repay the funds according to your agreement. 
  • Lowered Credit Score:  Defaulting on a loan, whether it is a title loan or a personal loan, could negatively affect your credit score. If you sign any loan agreement, you agree to the loan terms. Typically, that means you are required to pay it back on specific due dates in installments. Don’t forget to make on-time payments to avoid defaulting on your loan.

While it is important to keep the risks of a loan in mind, you could potentially avoid them if you’re a responsible borrower!  

Apply for a Car Title Loan in Fayetteville, North Carolina 

Ready to see if your vehicle can qualify for a North Carolina title loan? Just fill out the online pre-approval form to get started. Fayetteville borrowers could get emergency cash in as little as one business day if they qualify for a title loan serviced by LoanMart!3