How do title loans work?
- Fill out an application form completely online with no store visit or find Title Loan company near you.
- Discuss the terms and conditions of the loan, provide your vehicle title as collateral and finalize the process in the company’s location after a car inspection.
- Sign the loan agreement and get the money in less than an hour.
What are title loan rates and terms?
A Car Title Loan (or title pawn) is a short-term loan for instant cash funding secured by your vehicle title as collateral. Car Title Loans range from $100 to $10,000 on average. The amount depends on the value of your vehicle and your personal needs. The repayment terms are usually set within a month. The interest rate is about 300% a year. Make sure to shop around and choose the cheapest rates to be able to repay the money on time not to get into debt and avoid car repossession.
Do I qualify for a title loan?
Car Title Loans are considered an easy way to get short-term financing as the requirements are really simple. Most lenders just need:
- Your clear car title.
- The vehicle for inspection.
- A proof of income.
- A Government-issued ID.
- US residency.
- Active bank account.
- Valid contact information.
Can I get car title loans completely online?
Most Title Loan lenders offer an opportunity to complete a loan application completely online. Some companies even provide approval and funding with no store visit and no physical vehicle inspection.
However, in most cases, you will need to visit a loan store to complete the process as it’s necessary to inspect your vehicle in order to estimate the amount of loan available with your collateral.
Online title loans with no credit check
Car Title Loans provide guaranteed funding for those with bad credit as most companies do no credit check. The loan is secured which means less risky for the lender. Though good credit will allow you to get better rates, it doesn’t mean you can’t get approved with low credit or no credit at all.