What Are the Requirements for an Online Title Loan in Winston-Salem, North Carolina?

The requirements for an online title loan serviced by LoanMart in Winston-Salem, North Carolina, can be some of the most straightforward in the business. With title loans serviced by LoanMart, qualified borrowers could look forward to competitive interest rates, no hidden fees, and no balloon payments.1 5 

In addition to those benefits, you can easily start your title loan application online with just your smartphone or computer! That being said, to qualify for a car title loan in North Carolina, you will need to meet these initial requirements: 

  • Be an Adult at Least 18 Years of Age or Older
  • Have a Vehicle Title in Your Name
  • Have a Qualifying Vehicle With Some Positive Equity
  • Be Able to Show Proof of a Steady Income

You can’t apply for a title loan unless you’re 18 years of age or older. You must also have a qualifying vehicle title in your name to qualify for this loan option. Title loans can allow an applicant to use a car title as collateral to secure funding. 

A car title is a legal document, used to determine vehicle ownership. Therefore, you must have a car title in your name to apply for a title loan.  If it is not currently in your name, speak to a title loan agent to learn more about your options. If the title is lost, you can obtain a duplicate title at your local DMV(Department of Motor Vehicles). Or, you may be able to get a title transfer to ensure that your title is in the right shape to apply for a car title loan. 

 For a title loan, your vehicle’s equity will greatly determine your eligibility and potential loan amount.  You can calculate your car’s equity with some simple math! You will need to subtract the total amount you still owe to the bank or dealership from the vehicle’s actual market value.  This free title loan calculator tool can do some of the hard work for you! LoanMart borrowers can use this tool to obtain an equity estimate as well as a quote, free of obligation.1

Start your application for a title loan serviced by LoanMart in Winston-Salem, North Carolina, by filling out this pre-approval form or calling 833-910-2140 toll-free today!1

What Are the Required Documents for a Car Title Loan in Winston-Salem, North Carolina?

On top of meeting the initial requirements for an auto title loan in Winston-Salem, North Carolina, interested borrowers must submit the necessary documents. These documents are required to speed the process along and verify your information.3

Once approved for an online title loan, you will need the following documents handy:

  • A Valid Government or State-Issued Photo I.D.
  • Recent Utility Bills, Credit Card Statements, or Other Documents to Prove Your Address
  • A Qualifying Vehicle Title in Your Name
  • Bank Statements, Pay Stubs, Or Another Document to Prove Your Income 
  • Recent Photos of the Vehicle (Back, Front, Sides of the Car, Odometer, VIN)

You can conveniently submit these documents via email or fax during your title loan application. Contact a LoanMart title loan agent by calling 833-910-2140 toll-free today if you have questions about the paperwork you’ll need to qualify!1 

What Type of Car Can I Use to Apply for a Title Loan in Winston-Salem, North Carolina?

The two most important factors to qualify for a title loan are the applicant’s ability to repay the loan and the amount of positive equity in their vehicle. Both of these factors will influence an applicant’s eligibility and loan amount. 

There are several factors that contribute to vehicle equity, including:

  • Make, Style, and Model of a Car
  • Car Manufacture Year
  • Current Car Mileage
  • Overall Condition of the Car
  • Upgrades and Modifications

There are many types of cars you can use to apply for a title loan! However, your vehicle’s make, model, and style will affect its value. For example, the newest BMW M4 will likely have more value than a 2017 Honda Civic. But that does not mean that older types of cars do not have value! Older cars can still qualify as collateral for a title loan if they have enough equity.1

Most cars have a lifespan of around 200,000 miles. As a general rule, the more mileage a car has amassed, the less it may be worth. Car mileage is often used to measure how much wear and tear the vehicle has undergone. A car with less mileage generally has more resale value. However, that does not mean that cars with higher mileage do not have value. 

Title loan lenders will consider the overall condition of your car during your inquiry. It is important to keep your car in good condition over the years! Regular oil changes and maintenance are essential to keep your car in good working condition. Any cosmetic damage to the interior or exterior of your car will also affect its condition. 

Finally, ​​any modifications you make to your vehicle will impact its value. Some car enthusiasts may appreciate a large spoiler or custom exhaust system!  However, it may not always be a good idea to make these modifications because they could negatively impact the value of your car. In comparison, upgrades to a car, like new tires or an upgraded engine, can positively affect its value. 

Basically, many factors affect your car’s value. But, title loan agents can assist you with the inquiry process, so you do not have to figure it out yourself! Many different types of cars can qualify as collateral for a title loan.1 If you have any questions about vehicle equity, just call a LoanMart title loan agent at 833-910-2140

title loans winston salem

Can I Get a Title Loan Even if I Have Horrible Credit in Winston-Salem, North Carolina?

People with bad credit can still apply for title loans in Winston-Salem, North Carolina!

Title loans are secured loan options, which means they are backed by collateral. Your credit score is still considered by most title lenders during your application, but your eligibility largely depends on your car’s value and your ability to repay the loan. 

If you obtain approval for a car title loan, lenders place a lien on the car title and remove it after the loan is paid in full. There is less importance on your credit score during this inquiry process because a physical asset is on the line if you cannot repay the loan. Even if you are not confident with your credit history, don’t let that stop you from applying for the emergency cash you need!1 You can apply for a title loan serviced by LoanMart online or over the phone today. 

Can I Use a Title Loan to Pay My Rent in Winston-Salem, North Carolina?

You’re not alone if you’re struggling to pay for basic living expenses as a resident of North Carolina. The cost of living has recently increased significantly due to inflation, making life stressful for many people.

Currently, the cost of rent in Winston-Salem is around $1,200 for a studio apartment. If you have a family and live in a larger place than that, chances are your rent is even more expensive. Rent is one of the most significant monthly expenses for most Americans. If you need extra cash to make ends meet or pay rent this month, you can ask about car title loans in your area. 

Inquiring about a title loan serviced by LoanMart could offer you financial assistance when you need it most!1 Below are examples of how you could spend your title loan funds:

  • Rent
  • Consolidate Debt
  • Veterinary Bills
  • Surgery Costs
  • Wedding Expenses
  • Travel Expenses
  • Home Improvement Projects
  • Car Repairs

What are the Benefits of an Online Title Loan in Winston-Salem, North Carolina?

Compared to traditional bank loans, it can be much more straightforward to qualify for title loans serviced by LoanMart . Approved borrowers could access their cash in as little as 24 hours!3 

Below are more benefits you can expect with a title loan serviced by LoanMart:

Bad Credit May Not Be an Issue:

As mentioned earlier, you can get approved for title loans even if you have a bad credit history! That’s because your eligibility depends less on your credit history and more on your car’s value and your income.1 

Apply Online Without Leaving Your House:

One of the most convenient advantages of a title loan serviced by LoanMart is that you can inquire about funding online without leaving your home! Just use your tablet, smartphone, or computer to get started. Qualified borrowers may receive access to funding within the same business day as submitting the loan application.3 

Keep Driving Your Car:

You may wonder what happens to your vehicle after you sign your title loan agreement. After the agreement is signed, qualified borrowers can access their money and continue driving their cars! If you are like most Americans, your life revolves around your car. Luckily, you may keep access to your vehicle if you repay the loan on time each month.

Flexible Inquiry Process:

Another significant advantage of a title loan serviced by LoanMart is that the underwriting process can be flexible! For example, you don’t need a traditional 9-5 job to qualify for funding. There are many ways to earn a living in Winston-Salem, North Carolina.1

Borrowers are also welcome to apply for title loan funding seven days a week, day or night! A title loan representative will contact you the following business day if you apply after business hours. But you can submit your inquiry online whenever you need to!3

Many Repayment Options to Choose From:

Keeping up with your title loan payments is essential. If you miss payments and default on a title loan, you risk having your car repossessed by the lender.  The good news is that residents of Winston-Salem, North Carolina, have many repayment options available to them.

You can choose between the following:

  • Set Up Automatic Withdrawal 
  • Pay Through the Online Portal
  • Send a Check in the Mail to the Payment Center
  • Pay By Phone
  • Visit a Participating Money Transfer Location in the Area

Apply for a title loan serviced by LoanMart and see if you qualify for the cash you need today! Residents of Winston-Salem that qualify could get their cash in as little as one business day.1 3