How to Get a Car Title Loan with a Missing Title

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How to Get a Car Title Loan with a Missing Title

Missing Car Title?

First, don’t worry. We have this covered!

Paperwork is easy to misplace, and everyone loses important documents at one point or another. Don’t worry if your car title is lost, we may still be able to help you get a car title loan with a missing title. We can walk you through the process of obtaining a new copy of the title to help get the auto title loan process going. We’ll try to get this resolved as quickly as we can so we can move on with the approval process and get you your money.

If you don’t have the title or if there’s a lien on it because of another lender, we at LoanMart still may be able to help.

What to do if a Car Title is Lost

What you need to do depends on where you live. Each state has a different process and we can tell you what it is when you call us. Some of those processes are:

  • Local DMV’s – Your local DMV might be able to give you another title for your car, but not all offices are able to do this. We could help you speed up the process by finding the closest DMV to you that will be able to get you a duplicate title as fast as possible. In a lot of cases, we might be able to help you with getting an expedited title that uses overnight shipping. Dealing with the DMV can be confusing and frustrating. That’s why we recommend that you give us a call to walk you through getting a new title.
  • Third Party DMV’s – You may have also heard of third party DMVs. These are offices that are private companies who are authorized to handle most things that the DMV can, including getting you a new title. Most will offer extended hours at convenient, statewide locations. Working with these offices can actually be faster than a regular DMV. Though, keep in mind that they will also usually charge different fees for their services.

If you don’t have your car’s title because it is in the hands of a previous lien holder, we will gladly work with you to get proof that the lien has been satisfied and get the title transferred back to you.

What to do if Another Lender Has your Title

If you still have a few car payments before your current auto loan is paid off, don’t be discouraged. Another auto title loan company could have a lien on your title or maybe a bank, dealership or credit union has a lien on your car because you’re still making payments from when you originally bought it. LoanMart may be able to help you in either situation.

If you are still making car loan payments from when you first bought your car:

If you only have a few payments left, LoanMart still may be able to help. Our car title loans are based on the equity of your car. Equity is the current market value of your vehicle minus any total balance on your car payments that you may still owe.  So, as long as there’s enough equity in your car right now, we may still be able to loan you money. In that case, we would pay off the rest of your car for you so we can get your title back. Then, we would add that old balance onto your new auto title loan with LoanMart.

To see if we can make this happen for you, give us a call. A LoanMart representative can answer any questions about applying for a car title loan when you still owe money on your financed car.

If you have a car title loan from another lender:

If you have a loan with another auto title loan company, we want your business and will be very competitive on our terms and requirements on these types of loans. In this case, LoanMart may be able to help you refinance with us. Refinancing is when you negotiate a loan to change your payment schedule and interest rates for repaying it. If you refinance with LoanMart, we would pay off your current car title loan so we could get your title back. Then, we would replace your old loan with a new loan from LoanMart that would different terms. We could help you get a better interest rate or change your repayment schedule to something that works better for you.

What to do if your Name is Misspelled or Needs to be Updated on your Car Title

Think your name might need to be corrected on your car title before you get an auto title loan with LoanMart? We’ll help you find out. If it does need to be changed, the process is different in every state. Give us a call to find out what you need to do.

If your name is hyphenated or has multiple words, keep in mind that in many states it will show as one word on your title. This is not an error and will not require a name correction.

When you change your name after marriage or divorce, or if the name on your title is misspelled, you may need to update the name on your car’s title.

Before doing anything to your title, give us a call.

What to do if Someone Else Has your Car Title

Does another owner of the car have your car’s title? A car can qualify for an auto title loan even if there are multiple names on your car’s title. As long as you are noted as a legal owner of the vehicle, you can submit the title for an auto title loan. However, there are some things to check first. Ask the other person for the car title and take a look at what it says.

  • If you see your name and it has “or” between your name and another person’s name, you are good to apply.
  • If you see your name and it has “and/or” between your name and another person’s name, you are usually good to apply. This can vary by state.
  • If you see your name and it has “and” between your name and another person’s name, the other person legally owns it as well and you both need to apply.
  • If you’re not able to get the title from the other person who is listed on it, give us a call. We may be able to work with you to help you get a duplicate title. We’ll try to get this done as fast as possible to continue with the loan approval process.

At LoanMartwe want our customers make the decisions that are best for their life and specific financial situation. In an effort to educate all LoanMart customers, we are happy to answer any questions on how car title loans work and how they can be beneficial. Reach out to 800LoanMart today by calling them at the following number: 1-855-422-7412.