What is a Title Loan in Raleigh, North Carolina?
When a bill or expense arrives unexpectedly, you and many other North Carolinians may not have the money to cover it quickly. It can be pretty nerve-wracking if you have a limited time to repay the cost of what you owe and are in danger of falling into considerable debt. There are plenty of loan options available to get funding, but they might not be as quick or efficient enough for the total you need in your time frame. Unsecured loans, like payday loans, could help you obtain cash, but they usually come with high-interest rates that are not ideal. The qualifications for most unsecured loans may also be a hassle if you have a bad credit history.
Thankfully, a car title loan serviced by LoanMart could be the best option for you, as people from different financial backgrounds and credit scores could be eligible if they meet some basic requirements.1 A title loan is a collateral-based loan that could allow you to secure cash with your vehicle title. You could access your car’s equity and turn it into cash through that method! When you use collateral to apply for an auto title loan, the approval process could be much more flexible and open to borrowers that may otherwise not qualify for other loan types.1 What’s even better is that you could receive money in as little as one business day!3
If you’re a resident of North Carolina, you can inquire about a title loan in almost any city within the state, including Raleigh. But you wouldn’t need to go anywhere, though, as you could do the title loan process online!1
Are you ready to acquire the funds you need for financial relief? Just use your smartphone or computer to get started on your online title loan inquiry in Raleigh, North Carolina. Speak with a title loan agent with LoanMart at 833-910-2140 if you have questions about how to qualify for title loans!
How To Find Auto Title Loans in Raleigh, North Carolina?
Raleigh residents can inquire about title loans by using their smartphones or computers. Just open a browser to begin!
Remember that the requirements for an auto title loan serviced by LoanMart could be straightforward and simple.1 If you meet those initial requirements and qualify, you could receive a quick loan approval for funding.3 Here’s what you need to be initially eligible for a title loan in Raleigh, NC:
- You Must Be 18 Years of Age or Older
- A Title to a Qualifying Vehicle in Your Name
- The Ability to Pay Off Raleigh Title Loans with a Steady Income or Alternative Income
- Possess Enough Equity Available in Your Car
Almost anyone with a qualifying car can be eligible for a title loan if their title is in their name and it has enough equity to justify a loan amount.1 What if the title is not currently in your name? Don’t worry! A title loan representative from LoanMart could help you find out how to request a title transfer or replace it with a new one! Equity is essential to getting a car title loan, as it largely determines both eligibility and your cash total.1
Keep in mind that borrowers that fail to meet their monthly payments on a title loan can lose their car to repossession. Title loan lenders may choose to sell it based on its resale market value to recoup the money you borrowed; however, many lenders would prefer to avoid that, as it can be expensive and inconvenient to arrange. Moreover, you can always speak with a title loan agent from LoanMart if you have problems during the repayment period.
It’s okay if you don’t know your vehicle’s current equity amount! Most first-time borrowers in Raleigh, North Carolina, don’t know either. Luckily, an online calculator tool is available through LoanMart for title loan borrowers to simply obtain an estimate with a quote, free of obligation!1 Just input some information from your car to use the calculator:
- The Make or Model of Your Vehicle
- The Year a Manufacturer Released Your Vehicle
- Any Surface or Cosmetic Damage Done to Your Vehicle
- The Current Mileage Listed in Your Vehicle’s Odometer Reading
- Any Alterations or Modifications Made to Your Vehicle
- The Style of Your Vehicle
After you receive an estimate on your car’s positive equity, you could contact a title loan agent from LoanMart to find out if it qualifies for auto title loans in Raleigh, NC.1 The tool could also help you determine what you need to improve about your vehicle’s condition to boost its equity. Be aware that the better the condition of your car is, the larger its value could potentially be!1
Find out if you can qualify for a title loan in Raleigh by inquiring about one serviced by LoanMart! You might be able to get your cash in no time when you take advantage of a flexible and quick approval process!1 3
Will I Go Through a Credit Check When I Inquire About a Car Title Loan in Raleigh?
One significant advantage of an auto title loan is that an individual can often be eligible without a good credit score. With an online title loan, your car’s title is the collateral to secure the loan, which can help to minimize the lending risk. Yet, a title loan lender will still consider running a credit check during the approval process. But don’t be alarmed! You could still qualify for a car title loan even if you have a bad credit history.1
If a lender decides to verify your credit, it would go through what is known as a hard inquiry check. That happens once you’ve been approved for a loan and agree to proceed with the loan agreement. It can take off a few points from your credit score, but it could improve with time and effort on your end.
Still, you could qualify for quick funding through a title loan even if you’re unhappy with your credit score.1 3 Let a title loan representative from LoanMart clear any questions or concerns you may have regarding eligibility for a car title loan- call toll-free today at 833-910-2140!
What Documents are Required to Obtain North Carolina Title Loans?
A title loan agent from LoanMart may ask you to submit a few documents as part of the inquiry process for an auto title loan in Raleigh, NC. Although it sounds daunting, you may already have these documents handy! Once you have found all of your paperwork, you wouldn’t have to leave your home to send them.1 By sending everything online, a title loan representative from LoanMart could quickly reach out to you if you need to resubmit documentation or are missing information.3
Contact your local Division of Motor Vehicles to see if there are additional documents that North Carolina requires you to have. But you can anticipate submitting the following documentation to a title loan agent from LoanMart:
- Your Vehicle Title: Before you inquire about a Raleigh title loan online, ensure your car’s title is in your name. However, you can qualify for a car title loan if you share a name on the title. If there is an “AND” in between names, then all parties must submit documents together; but if there is an “OR” in-between, then you or the other members can inquire on their own. Also, it’s okay if you lost or misplaced your title! As you may have already read, a title loan agent from LoanMart could help you find out how to request a title transfer or replace it with a duplicate copy. Charlotte residents must complete and sign a North Carolina Lien Recording Application form, also known as the Division of Motor Vehicles form MVR-6.
Not only that, but no matter which state you live in, there is a title loan requirement you must acknowledge:
- If your vehicle is not fully paid-off, a written permission and authorization form may be requested so that the title loan lender can acquire information about your existing car loan and pay it off. That means you could still potentially qualify for a loan even if you’re close to paying off your title loan!1
- Proof of Reliable Income: Another good thing about getting an auto title loan is that you don’t necessarily need a 9-5 job to qualify.1 There are different ways to prove your ability to repay loans in Raleigh, North Carolina. Some examples of what you could use to verify your income could include bank statements, retirement income, pay stubs, settlement income, worker’s compensation, pension income, Social Security/Supplemental Security Income, or even a letter of employment from your employer!
- Proof of Raleigh Residence: You need to provide a title loan representative from LoanMart with proof that you live in Raleigh, NC. Fortunately, you could use various documents to do so, such as recent phone bills, credit card statements, recent mail, utility bills, lease agreements, mortgage statements, etc.
- Recent Images of Your Vehicle One of the requirements for a North Carolina title loan is a vehicle inspection. While many title loan providers prefer to conduct in-person inspections, others do not. With a title loan serviced by LoanMart, you could access an online inspection during the approval process! Simply send a few pictures of your car to bypass an in-person vehicle inspection!1 Take clear and visible photos of your car’s hood, rear, driver’s side door, passenger-side door, VIN#(Vehicle Identification Number), and odometer reading. Dial 833-910-2140 if you have questions about how an online car inspection works.
- Proof of Government/State-Issued Identification: You can validate your identity to a title loan agent by using different forms of government-issued identification. You could use your passport, driver’s license, or other certified state identification cards.
- References: A title loan representative from LoanMart may ask you to provide some contacts. These can be personal, professional, or both.
Borrowers could send in their paperwork through the online portal with a car title loan serviced by LoanMart!1 Don’t forget how you could do that through a smartphone or laptop that is readily available and connected to the internet.
How Much Money Can I Get When I Apply Online for a Car Title Loan in Raleigh, North Carolina?
The equity in your car plays a significant role in the eligibility process for auto title loans in Raleigh. It’s important because lenders use it to determine your approval status and the loan amount you’d potentially obtain. If you want plenty of money, it’s understandable; some bills can be expensive and difficult to repay in such a short amount of time. So to acquire a higher cash total, your vehicle would need to have enough equity to borrow from and have the right income to support that amount.1 Remember, if you don’t know the current equity in your car, you could always use the online calculator tool to find an estimate.
These details are the main factors that a title loan lender will use to determine your loan amount:1
- The Positive Available Equity in Your Vehicle
- Your Income and Ability to Pay Off an Auto Title Loan in Raleigh, NC
What are the Benefits of an Auto Title Loan in Raleigh?
Are you seeking to inquire about car title loans in Raleigh, North Carolina? Title loans could offer more than just cash, as there could be many benefits that can add to your loan experience.1 Take a look at some of the exclusive perks that borrowers can expect when they opt for a title loan serviced by LoanMart:1
- No Hidden Fees:5 Most lending options can be frustrating to deal with- especially when some fees and penalties leave you in a lot of debt. A title loan should alleviate your financial situation, not add more complications. That’s why you could rest easy knowing you won’t deal with any hidden fees when you acquire an auto title loan serviced by LoanMart!5 Also, there are no prepayment penalties for wanting to repay a loan earlier than anticipated.5
- Competitive Title Loan Interest Rates:1 A loan’s interest rate usually determines how much you’d pay during the loan process. However, borrowers can deal with excessive and expensive rates depending on the loan type. But with a title loan serviced by LoanMart, you could deal with competitive rates if you are a qualified borrower.1
- Convenient and Flexible Online Process:1 It could be simple to get your emergency money when inquiring online about a title loan serviced by LoanMart!1 What’s even better is the possibility of finishing the approval process in mere minutes.3 Once you’re approved for funding, you could receive your money in as little as 24 hours!3 Some qualified applicants could even get their cash the same day!3
- Excellent Customer Service: Title loan agents from LoanMart are available six days a week for extended hours to assist borrowers with whatever they need. If you have any questions during the loan process, don’t hesitate to dial the toll-free number at 833-910-2140. You can expect to speak with a compassionate, thoughtful, and knowledgeable representative who will do what they can to assist you.
Find out if you can reap the benefits of a title loan in Raleigh by going online and starting the application process today!1
How Do I Apply for a Title Loan in Raleigh, North Carolina?
Obtaining quick funds from North Carolina title loans could be very simple.1 Borrowers would only need to follow three straightforward steps to begin on their car title loans serviced by LoanMart:1
Call or Click:
Submit the Right Documents:
Don’t forget to send your documentation quickly online!3 That way, a title loan representative from LoanMart could quickly verify your information and respond in no time!3
Get Your Funds!1
If you qualify for a car title loan, the next step is to sign your loan agreement and collect your cash.1 Qualified borrowers could select from a few different ways to retrieve their funds, such as a direct deposit to their bank account, a check sent to their Raleigh address, or picking up their money at a participating money transfer location nearby.
See if you meet the qualifications to acquire a title loan in Raleigh, North Carolina, today! You could receive cash in as little as one business day if you qualify!3 Contact a title loan representative from LoanMart if you need help.