Online Car Title Loans

Car Title Loans

Do you need fast cash and own a car, truck or SUV? A car title loan is a short-term or long-term loan option that allows you to borrow against the value of your vehicle. Car title loans go by many different names, such as pink slip loan, auto title loan, auto equity loan, or auto collateral loan. Regardless of the name used, these loans allow you to borrow based on the equity value of your car or truck to get the funds you need.¹

Car Title Loan Eligibility

The eligibility requirements for car title loans are straightforward!¹ Applicants with a qualifying car can easily be approved for a car title loan serviced by LoanMart, as long as the car is in their name and has sufficient equity.¹ Even if your car is an older model or has a few cosmetic dents, you may still qualify for fast cash if it is deemed valuable enough!¹

In addition to owning a qualifying car, you will also need to have verifiable income that allows you to afford the car title loan payments. You can use various documents as proof of income when you apply for a title loan serviced by LoanMart, including:

• Paycheck Stubs
• Bank Statements
• Government-Issued Award Letters
• And More

If you are currently without a job, you may still be able to qualify for a car title loan if you can demonstrate your ability to afford the payments!¹ Speak to an agent today about your current financial situation by calling 855-422-7412.

What Is The Car Title Loan Process?

The process of getting a car title loan is meant to be streamlined and efficient for borrowers dealing with a financial emergency.¹ The goal of a car title loan is to provide you with a sufficient amount of money in the shortest possible amount of time, all while making repayment obtainable and manageable.¹ 

When you get a car title loan serviced by LoanMart, you can get quick funding as soon as same-day with the following process!^{1 3}

1. Call or Apply Online: To get started on the approval process for a car title loan, call 855-422–7412 to speak with a representative or complete the online application to pre-qualify your vehicle in minutes.¹
2. Submit Required Documents: With title loans serviced by LoanMart, you can upload images of your required documents online. Save time by avoiding the unnecessary trip to a loan store. If uploading documents online is not an option, you can also email them or send them via text message.
3. Choose Funding Method and Sign Loan Agreement: Once your documents are verified, you can receive final approval for an auto title loan!¹ Upon final approval, your title loan contract will be prepared and made available for signature. With title loans serviced by LoanMart, you can choose to get your money through ACH deposit or wire transfer, a check sent in the mail overnight, or pick up funds at a participating money transfer location.
4. Submit Your Title and Receive Funds: The final step in the title loan process is to mail in your vehicle title and receive your funds.

Once your title loan is completed, the lender will place a lien on your vehicle which reflects that your car’s title is used to secure the repayment of the loan. When the final payment is made and your loan is paid-off, the lien will be removed.

Get Car Title Loans with Bad Credit

Many financial institutions have strict loan approval requirements, such as a great credit history and a good credit score. With car title loans, bad credit may not make you ineligible for the quick funds you need.¹ With title loans serviced by LoanMart, you still have to complete a credit check during the loan application, but your credit report is not the primary factor for loan approval.¹

Since car title loans are secured, the lending risk is lowered, which allows title lenders to have more relaxed approval criteria. If your financial history could use some improvement, know that you don’t need good credit to qualify for car title loans.¹

How Can I Find Car Title Loans Near Me?

Tired of searching for “auto title loans near me”? There has never been an easier time to find a car title loan serviced by LoanMart in your area. That’s because you can apply without leaving the comfort of your own home! Rather than driving to a nearby store, you can simply apply online, or call 855-422-7412 to speak with a title loan agent to get started. There is no need to waste time and money driving to an office and waiting for a representative to meet with you – with title loans serviced by LoanMart, the entire application can be done online, including the required vehicle inspection!

If approved for a car title loan, you may receive access to the funds within the next business day.¹ As mentioned earlier, title lenders understand that when emergencies happen, they must be dealt with immediately. Don’t let things get overwhelming – apply for a car title loan and take care of it.¹

What Documents Do I Need to Qualify for Car Title Loans Near Me?

The initial requirements for applying for a car title loan are that you need to be at least 18 years of age, have a qualifying vehicle with the right amount of equity and prove that you have a form of steady income.¹ You will be ready to begin the process if you can show proper documentation of these items!

A loan application can seem like a daunting idea, but don’t worry! The documents you need to apply for a car title loan serviced by LoanMart are usually ones you have on hand:

• Government or State-Issued Photo I.D.: You need to prove your identity, and you can do so by using a driver’s license, a passport, or any valid, government-issued photo I.D. As mentioned earlier, minors are not permitted to apply for these types of loans, so as long as you prove you’re an adult and have a valid I.D., you will be good to go for this requirement.¹
• Proof of Residence: While you don’t need to live physically close to an office that services car title loans, you will need to be able to prove your address. You can do so by using a piece of official mail, like a recent utility bill, credit card statement, or a bank statement.
• Proof of Income: To apply for a car title loan serviced by LoanMart in your area, you need to prove that you have a steady income and can make payments. You can show pay stubs, disability income checks, retirement/ pension income, or even proof of self-employment through bank statements.
• Proof of Vehicle Title: When inquiring about a car title loan, you will need to have a vehicle title in your name, or you must be close to paying off the vehicle. If the title is not currently in your name, you will need to visit your local Department of Motor Vehicles to get it updated. A title loan agent with LoanMart may be able to guide you on that!
• Photos of Your Vehicle: Most title lenders require an in-person vehicle inspection. However, with a title loan serviced by LoanMart, you can opt for an online vehicle inspection instead! Just take a few pictures of your vehicle with your smartphone or camera. Recent pictures of your car can be an excellent way to determine what kind of shape it’s in. This is why it’s essential to take good care of your car, so that it may potentially be appraised for a higher value!

If you’re missing any of the documents above, reach out to a loan officer to discuss your options! Auto title loans are designed to be easy and flexible!

How Much Can I Get for a Vehicle Title Loan Near Me?

As mentioned earlier, the value of your car can depend on several factors. One of these factors is what condition the vehicle is in – if it’s old and hasn’t been well maintained over the years, this can affect its value and your eligibility for a title loan.

Wondering why your vehicle’s condition affects loan eligibility? The answer lies in how car equity is determined and how that number impacts the maximum car title loan amount.¹

The equity on your car is essentially the difference between its market value versus how much you owe on it, if at all. So if you owe more than what your vehicle is currently worth, you would have negative equity. If you don’t owe anything on your car, then its equity is equal to its current market value.

Typically, title loan lenders will look at how much equity you have in your car, and your maximum loan amount will be a percentage of that. If your vehicle is worth $10,000, you may be approved for 25% to 50% of that, depending on your state and income.¹

The amount of money you may receive mainly depends on how much your vehicle is worth and how large of a payment your income supports.¹

Alternatives to Car Title Loans

If you are looking to borrow funds quickly, you are likely considering several fast cash options, including payday loans, personal loans, credit cards, or car title loans. Here’s a brief comparison:

• Payday Loans: Payday loans tend to have high-interest rates and short terms that can make the repayment process stressful. Repayment is typically expected within two weeks to a month, as this type of loan is meant to help you out between paychecks. If you need more than a few hundred dollars, then this loan option may not be ideal since these loans tend to have small loan amounts.
• Personal Loans: Personal loans are usually unsecured, which means your credit is expected to be high if you want to qualify for a large loan amount and competitive interest rates. If you have bad credit, you may not be able to qualify at all, or you may only get approved for a small loan amount at a high interest rate. Personal loans usually have longer repayment terms than payday loans, but they also have stricter qualification requirements.
• Credit Card Cash Advance: A cash advance from a credit card may be an option, but there are some factors to think about. You will only be able to access funds up to your available credit limit, which means you may not be able to access enough funds to handle a larger financial emergency. You could try to obtain additional credit cards, but that might be difficult if you’re already strained financially. Additionally, cash advances may come with higher interest rates than what you are charged when making purchases with a credit card, and they oftentimes also have a transaction fee.
• Car Title Loans: If you have a vehicle title with your name on it, and your car or tuck is paid-off or close to paid-off, you could use the title as collateral to get quick cash with a car title loan!¹ Vehicles can often have high value, so you could potentially get a sizable loan that covers the cost of an unexpected expense.¹ While auto title loans are not considered a cheap way to borrow money, their interest rates can be more competitive than the rates for payday loans and bad credit personal loans, while potentially allowing you to borrower more funds.¹

Find Out if You Qualify for a Title Loan

Needing money during an emergency can be stressful. Fortunately, you can apply for online title loans with instant pre-approval!¹ With a title loan serviced by LoanMart, you can potentially receive funding in as little as 24 hours!³ 

As long as you meet the initial requirements for a car title loan, you are eligible to apply for a vehicle title loan serviced by LoanMart!¹ If you’re unsure what your car’s equity is, you can use LoanMart’s online title loan calculator tool to find out. Instead of continuing to search for “auto title loans near me”, begin your title loan process with LoanMart online or call 855-422-7412 to speak with a loan agent!