What's The Title Loan Value of My Car?

What Determines the Title Loan Value of My Car?

Call Our Team

Take the first step and call our toll-free hotline to speak with a specialist.

855-422-7412

Simply put, the title loan value of your car predominantly depends on the current market value of your vehicle, and what portion thereof a title loan lender will allow you to borrow. Separately, when determining your loan approval amount, a title lender will also need to review your income in order to confirm your eligibility, your approval amount, and whether you are capable of repaying the loan. Therefore, you are required to provide proof of income during your loan application. Many applicants will submit bank statements or pay stubs in order to prove their ability to repay the loan, but a variety of documents can potentially be accepted, including proof of alternative income.¹

Take a closer look at some of the factors that will affect the resale value of your vehicle:

• The Make and Model of Your Car: The make and model of a car can greatly affect its resale value. Certain vehicles are popular and known for their reliability, while others may have a poor reputation and lower market demand.
• Current Condition of Your Car: The current condition of your car is important because it impacts its overall market value. If your car has damage, either cosmetic or structural, its value could significantly decrease (depending on the severity of the damage). Generally, a car that is in good condition is worth more than a car in poor condition.
• Current Mileage on the Odometer: The current mileage listed on your car’s odometer reading may increase or decrease its value. Having high mileage will usually lower your car’s value, but it is possible to qualify for a title loan even if your car has accumulated a lot of miles on the odometer.¹
• Modifications: If you modify your car with aftermarket parts, such as adding a large spoiler or a vinyl wrap, you may have unintentionally lowered the value of your car. However, if you add high-quality parts to your vehicle, like a new exhaust or an upgraded engine, you can potentially increase your vehicle’s resale value if you decide to sell it to a private party.
• Age of the Vehicle: Typically, as a vehicle ages, it will depreciate in value. Some consumers are always looking for the newest model or the latest technology. Since technology is constantly being updated, a car that was manufactured a few years ago will usually have more modern technology than an older car, which can affect its resale value. However, some classic cars, such as a 1963 Mercedes Benz or a 1969 Chevrolet Camaro, can potentially be worth more than a car that was manufactured in 2020! 

There are several resources available online to help you learn more about the resale value of your car, including car valuation websites like Kelley Blue Book and Edmunds. You can also find out the title loan value of your car through LoanMart’s online title loan calculator!¹ Simply fill out a short online form to find out if you are eligible for instant pre-approval for a title loan serviced by LoanMart today.^{1 3}

How Much is My Car Worth for a Title Loan?

If you are able to qualify for a title loan, you will be able to access a certain percentage of the total value of your car, truck, or SUV.¹ Typically, a qualified applicant can obtain up to 50% of their vehicle’s value through a title loan.¹

As previously mentioned, there are quite a few factors that impact the market value of your car, including your car’s make, model, condition, current mileage, and age. 

If you want to find out how much your car is worth through a title loan, you can use LoanMart’s online title loan calculator. Or, if you prefer to apply for a title loan over the phone, you can dial 855-422-7412 to speak to a title loan agent. They are prepared to walk you through the application process, so applying for a car title loan serviced by LoanMart can be simple and straightforward!¹

How Much Can I Get on a Title Loan?

If you need quick financial relief due to an unexpected emergency, you might be wondering, “How much can I get on a title loan?” A title loan, also known as a car title loan, auto equity loan, or pink slip loan, is a type of secured loan where an eligible borrower will be able to use their vehicle title as collateral for the loan.¹

If you want to know more about the title loan value of your car, use LoanMart’s title loan calculator and obtain a loan quote with no obligation today!¹ Depending on your income, the value of your car, and the state you currently reside in, you could potentially obtain up to $15,000 if you are eligible for a title loan serviced by LoanMart.¹

Benefits of Knowing Your Car’s Title Loan Value

When you’re in the market for a loan like a title loan, it’s a good idea to be well-informed about your options and the specific products you are considering. In terms of applying for a title loan, here are some of the top benefits of knowing your car’s title loan value before you apply:

• Informed decision making: Knowing the title loan value of your vehicle can help you make an informed decision. This includes first and foremost the decision whether a title loan is potentially right for you – if your car’s value is not realistically high enough to
• Understanding loan eligibility: Knowing what your car is worth to a title lender can also give you a sense of your chances to qualify for a title loan from that particular lender.¹ Let’s say you are interested in applying with a particular lender that has a minimum loan amount of $1,000, and you know your car is only worth $1,000 – in that case, your chances of getting approved for a title loan are quite slim.
• Improved negotiating and lender comparison: If you receive a loan approval that’s slightly short of the amount you were looking to borrow, knowing your vehicle’s title loan value might help you negotiate for a better loan approval with the lender.¹ However, not all title loan lenders give negotiating flexibility to their loan officers. Knowing the value can thus also empower you to decide to shop around for additional loan options from other title loan providers.

Steps to Take After Knowing Your Vehicle’s Title Loan Value

Once you have a good grasp of the value of your vehicle for a title loan, you can determine if a title loan might be the financial option most likely to fit your current cash needs. If that is the case, your next step could be to apply for a title loan serviced by LoanMart!

You can conveniently apply online by filling out a short prequalification form. Or, just give us a call at 855-422-7412 and apply over the phone with a title loan agent. If you qualify, you could obtain your loan proceeds in as little as one business day!^{1  3} Visit the FAQ page to learn more about the initial requirements you must meet in order to obtain approval for a title loan.¹