Recently experienced a financial setback or unexpected emergency? When people need money quickly, they may want to think about looking into car title loans online.
Not only do we provide excellent customer service to go along with our lending products, but we also provides resources like this one so that potential customers can make an informed decision about their finances.
Car Title Loan in New Mexico
If a customer lives in New Mexico, they should look over the following information so they know all there is about auto title loans in their state.
While we can make loans that are based off the market value of a car in New Mexico, state law caps small loans at $2,500. However, consumers need to be aware that there is no such limit for the loan’s interest rate. This is true for every loan, regardless of the amount of money that is being borrowed.
Consumers need to be aware that there are no state regulations or laws on these finance charges. The interest rate that borrowers will have to pay on their car title loan will be between that customer and the company providing the service, the lender. Borrowers should be sure to read through all documentation carefully. The rates, fees, and charges should be explicitly explained, but if there are any questions, don’t hesitate to ask. We’re proud of our excellent customer service and part of that is helping our customers understand every step of the process when it comes to car title loans online.
Before loans can be secured in this state, we will need a complete application which will include information about the borrower and the automobile that is being used secure the loan. New Mexico also requires that the customer owns the complete title before getting any car title loans.
We’ll also need some other pieces of information, which are pretty standard across all the states we operate in.
These include things like:
- Proof of residency (so provide something like a cable or utility bill to prove the address is correct)
- Proof of gross income (because we don’t want to lend anyone more than they can reasonably repay)
- A list of references
Have additional questions? Feel free to call a customer service representative, or chat with one online on our website. Or, people can quickly see if they might qualify for a loan; the form to do so is also available on our website. There’s no obligation to secure car title loans online if a customer does not wish to proceed.