Are Title Loans Allowed in Ohio?
Yes, you are allowed to apply for car title loans in Ohio! A title loan is a fast cash loan option that can allow a qualified applicant to use their Ohio vehicle title as collateral for emergency funding. Title loans are designed to provide financial relief to eligible residents of the Buckeye State who need emergency money and may be unable to qualify for many traditional loan options.1 3
Since you are required to use your vehicleās title as collateral for funding, a car title loan can be much more flexible than an unsecured loan. No matter where you live in the state of Ohio, if you need fast money and own a car, truck or SUV, you can apply for an auto title loan online from the comfort of your home! Start your application for a title loan serviced by LoanMart by completing the short online application or calling 855-422-7412 to speak to a title loan agent. If youāre eligible for an auto equity loan in Ohio, you could obtain emergency cash in as little as 24 hours!1 3
How Title Loans Work in Ohio
Online title loans in Ohio work by allowing you to access a portion of your carās current value and turn it into the fast cash you need.1 3 An Ohio-issued car title is required to get loan approval since you will need to pledge it as collateral for the loan. It must be in your name at the time of application. Additionally, your vehicle must have a decent amount of equity to qualify as collateral for a title loan.1 3
If your car or truck has enough equity and you meet the lenderās requirements for an Ohio car title loan, you could potentially access anywhere from 25% to 50% of your vehicleās overall value.1 With title loans serviced by LoanMart, that could be up to $15,000!1
Once your title loan application is approved, you’ll be asked to provide a small number of documents so that your application information and vehicle ownership can be verified.1 Once that’s completed, your loan can be finalized. As soon as you mail in your vehicle title, your Ohio title loan proceeds can be disbursed in the manner you choose – from ACH, wire to cash pickup at a money transfer business near you in Ohio. While your Ohio vehicle-secured loan is outstanding, the lender will add a lien to your title to document that it’s used as loan collateral. Once you’ve paid-off your loan, the lien is removed and the title is returned to you without the lien.
Ohio Cities and Regions We Serve
Ohio auto title loans serviced by LoanMart offer an online process, from applying for the loan all the way to paying it off eventually. Therefore, residents of the entire state of Ohio are welcome to apply for a cash loan using their Ohio-registered vehicle, including residents of:
- The “three C’s” – Cleveland, Columbus and Cincinnati
- Other major Ohio metropolitan areas like Toledo, Dayton and Akron
- Northeast Ohio including Canton, Parma, Euclid, Lorain, Elyria, Warren, Youngstown, Alliance, Kent and more
- Southwest Ohio including Hamilton, Middletown, Springfield
- Central Ohio – Newark, Lancaster, Mansfield, Zanesville
- Northwest Ohio – Findlay, Lima
- Southeast Ohio – Chillicothe
No matter where you are in the Buckeye state, a vehicle-secured loan serviced by LoanMart is just a few clicks away.1
What are the Auto Title Loan Requirements in Ohio?
Qualifying for an unsecured loan can be difficult if you donāt have a strong credit history. However, car title loans in Ohio can be flexible, and the application process is straightforward. Ohio has specific laws in place to ensure lenders operate fairly and transparently within the state. The applicable title loan laws in Ohio can also apply to applicants, meaning that a prospective borrower must be at least 18 years old to apply for a title loan. A loan is an important decision, so you must be of legal age to handle such a big financial commitment. Besides being of legal age, you will need to meet the following title loan requirements in Ohio to obtain the funds you need for unexpected expenses:1
- Have an Ohio-issued Vehicle Title in Your Name for a Vehicle with Sufficient Equity
- Be Able to Provide Proof of Income
The reason that lenders ask for proof of income is that they like to confirm that you have room in your monthly budget to afford the anticipated title loan payment. However, you donāt need a 9-5 job to apply for an Ohio auto title loan! If you donāt receive regular pay stubs from an employer, you can provide evidence of other types of income during your application.1
What Documents are Needed?
In addition to meeting the loan requirements, there are a few documents you will need to have on hand in order to verify your application information. Here is a list of the paperwork you will need to submit:1
- Your Carās Title
- Proof of Ohio Address and Income
- Valid, Government-Issued Photo Identification Card such as an Ohio Driver’s license or passport
- Recent Photos of Your Vehicle
If youāre applying for a car title loan in Ohio, you may also need to complete an Ohio Bureau of Motor Vehicles Power of Attorney form, sign it in the presence of a notary public, and have the form notarized. If you have any questions about this document or any part of the application process, a title loan agent from LoanMart will be happy to assist you.
Why Ohio Residents Choose Auto Title Loans
With a diverse economy reliant on manufacturing, health services and agriculture, and a median household income below the US average, there are various reasons why Ohioans choose to borrow through auto title loans, including:
- Covering expenses during seasonal changes in work hours in Ohio’s automotive, steel and other manufacturing industries.
- Bridging income fluctuations for healthcare shift workers that are experiencing lower take-home pay, e.g. due to lower overtime or weekend bonuses.
- Covering urgent vehicle repairs, which are essential for the long in Ohio’s sprawling metro areas that offer limited public transport.
- Managing living costs that fluctuate or increase, including winter heating costs during cold winters and rising rental prices in Ohio.
No matter your reason to need quick cash in Ohio, funding through a LoanMart-serviced title loan can be as little as one business day away!1 3
Can You Get Car Title Loans with Bad Credit in Ohio?
Yes, getting title loans with bad credit in Ohio is possible! The value of your car and your income are the main factors that will determine how much you can qualify for. Therefore, your credit history or credit score isnāt the primary factor that a title lender will review during your loan inquiry. So, even if you have a bad credit history, you could still qualify for an Ohio title loan and access the funds you need for a financial emergency!1 3
However, itās worth mentioning that most lenders will verify your financial history during the loan application process. A credit check is an essential part of a title loan application, so finding car title loans with no credit check in Ohio will be difficult, if not impossible.
Financial difficulties can arise for a variety of reasons and negatively affect your credit score. Fortunately, with an online title loan in Ohio, your credit history is your past, but it may not stop you from applying for a loan in the future! You donāt need to avoid a loan option that requires a credit check just because you are not confident with your credit history. You could still qualify for an auto title loan in Ohio, even if you donāt have a perfect credit score!1 Apply online or call LoanMart at 855-422-7412 to apply for a title loan with bad credit in Ohio.1 3
Is an Inspection Required to Get Title Cash Ohio?
Yes. Some type of inspection or vehicle appraisal is normally required when you borrow using your vehicle. However, that doesn’t mean that you have to drive to a loan store in order to complete it. With LoanMart-serviced loans in Ohio, you can complete a virtual vehicle appraisal by providing clear images of the following:
- The Front, Rear, and Sides of the Vehicle
- Your Vehicleās Odometer Reading
- The Vehicle Identification Number (VIN)
Review your photos carefully before submitting them. You can use your smartphone to upload them online or email or text your images and documents directly to a LoanMart title loan agent.1
Dial 855-422-7412 if you have questions about online car inspections or applying for online title loans in Ohio!1
Where Can I Find Title Loans Online with No Store Visit in Ohio?
Are you searching for the simplest way to apply for car title loans online with no store visit in Ohio? By applying online here, you can avoid the hassle of finding a title loan store nearby. Simply use your smartphone or computer to begin your application, and if you qualify, you could receive your title loan proceeds in as little as 24 hours!1 3
Call 855-422-7412 or apply here to see if you qualify for the funds you need to handle a financial emergency! Visit the FAQ page if you have any questions about applying for online car title loans in Ohio.
How You Can Repay Your Ohio Title Loan Serviced by LoanMart
When you’re in need of a quick loan to get you through a tough financial situation, how you can pay it back might not be top of mind. Nevertheless, title loans serviced by LoanMart provide flexibility and convenience when it comes to making your monthly payment. You can set up recurring, automatic payments with your bank account or debit card online, call a customer service representative to process a payment, and even pay with cash at participating money transfer providers.
One of the participating money transfer providers is MoneyGram. As the below map shows, there are several MoneyGram locations throughout the entire state of Ohio. Whether you’re repaying your title loan in the Three C’s, another major city or in rural Ohio, there’s likely one not too far away from you!
Frequently Asked Questions:
Are Title Loans Allowed in Ohio?
If you have a vehicle title in your name and proof of income, you can apply for a car title loan serviced by LoanMart in the state of Ohio.1
How Do Ohio Title Loans Work?
Title loans in Ohio work by allowing you to use your car title as collateral for funding. Title lenders will primarily use your carās value and your income to determine your loan amount. Because collateral is used to secure the loan, the approval process can be flexible.1
What are the Requirements for Auto Title Loans in Ohio?
You will need to meet the following initial requirements to find out if you can qualify for a car title loan in Ohio:1 3
- Have a Car Title in Your Name
- Have Proof of Income
- Possess a Car with Enough Equity
- Be 18 Years of Age or Older
Do I Need a Good Credit Score to Get Title Loans in Ohio?
You can still qualify for title loans in Ohio with bad credit. Title lenders will mainly focus on your carās value and your ability to repay the loan to determine your eligibility. But, your credit history is still a factor that is considered.1
What is the Approval Process for a Title Loan in Ohio?
If you apply for a title loan serviced by LoanMart in Ohio, you can take advantage of a quick and convenient approval process. Just submit a loan inquiry online or over the phone, upload some documents, and get your money if you qualify!1
Title Loan Facts in Ohio for LoanMart-serviced Loans
In the following table are some loan statistics for Ohio, which may give you a better idea what an average LoanMart-serviced loan looks like in your state:1
| Avg title loan amount | $4,911 |
| Avg miles at time of loan | 119,671 |
| Avg borrower FICO | 557 |
| Top vehicle used for the loan | Chevrolet Silverado 1500 |
