? Are Title Loans Allowed in Delaware?
While title loans are allowed in Delaware, receiving approval for this vehicle-secured loan option is only possible if you can meet the lender’s application criteria, which typically includes the following:1
- Be at Least 18 Years of Age or Older
- Have a Sedan, SUV, or Truck With Positive Equity
- Provide Several Documents to Verify Your Information, Including Proof of Income and a Delaware Car Title in Your Name
If you can meet the basic requirements for a title loan, you are well on your way to accessing the fast cash you need to get back on your feet! A huge advantage of title loans is that the application process is very straightforward, and you will only need to provide basic documentation to verify your information. If you want to pursue Delaware title loans, start gathering the documents listed below:1
- Delaware Vehicle Title (Must Be in Your Name)
- Bank Statements, Pay Stubs, or Another Document to Prove Your Income
- Delaware Driver’s License or Another Valid, Government-Issued Photo ID
- Proof of Residence Through Recent Utility Bills, Phone Bills, or Credit Card Statements
- Recent Photos of Your Vehicle
With these documents on hand, you can speed through your loan inquiry and find out if you are eligible for fast financial help! Keep reading to learn more about how online title loans work in Delaware.1
How Do Title Loans Work in Delaware?
Since the cost of living in Delaware is higher than the national average, you are not alone if you are struggling financially. However, relief could be found through Delaware title loans. A title loan is a type of secured loan in which a borrower can use their vehicle’s title as collateral in order to secure the loan.1
Since your car’s title is used to guarantee the funding, your credit history will not be the focal point of your application. Unlike traditional bank loans, title loans are known to be flexible and cater to Delaware residents with lower credit scores.1
Even though you are required to pledge your car’s title in order to secure emergency cash, you can keep driving around Delaware during the repayment process as long as you manage your title loan payments.
If you are in financial distress, know that you are not alone and many other residents of Delaware are in the same boat! By applying for a title loan, you are embarking on a journey that is quick, convenient, and flexible. With ChoiceCash title loans serviced by LoanMart, you can start your application online and find out if you are eligible for instant pre-approval today. Qualified residents can receive their funds in as little as 24 hours through ChoiceCash title loans in Delaware!1
What is the Title Loan Application Process in Delaware?
Whether you are located in Wilmington, Dover, Newark, or another city in the First State, you can access a hassle-free title loan application process. Take a closer look at the three simple steps you will need to complete to apply for a ChoiceCash title loan online in Delaware:1
- Call or Click to Get Started: Begin your loan request by filling out a questionnaire online, or get started over the phone by calling a loan officer at 855-422-7402. Be prepared to provide information about yourself and your vehicle, such as its make, model, year, and current mileage listed on the odometer reading. A friendly loan officer can answer any additional questions that you may have, along with guiding you through the next steps to secure your loan.1
- Submit Your Documents: If you are pre-approved for a Delaware title loan, a loan officer will ask you to provide the documentation listed above. For your convenience, these documents can be uploaded online or sent through email or text message to a title loan agent. Upon receiving your paperwork, our loan agents will review your documentation for completeness.
- Get Your Money: If you receive full approval, you can sign your electronic loan agreement and receive your funds by the next business day if you choose direct deposit, or have your funds added to a debit card. Call 855-422-7402 to speak with a ChoiceCash title loan agent, and start your application today!1
What is the Repayment Process for Title Loans in Delaware?
One of the most significant benefits of ChoiceCash online title loans is the flexible repayment options available to Delaware borrowers. If you are eligible for a ChoiceCash title loan serviced by LoanMart, you can access a few different repayment methods, including the options listed below:1
- Set Up Automatic Withdrawals from a Checking Account
- Pay by Phone
- Pay Online Through the Online Customer Portal
- Visit a Money Transfer Location in Delaware to Pay in Person
Additionally, if you have the means to pay off your ChoiceCash title loan ahead of schedule, you will not encounter a prepayment penalty or any other hidden fees.
As a title loan borrower, you need to prioritize your title loan payments as much as possible. Since title loans are secured loans, one of the potential risks of title loans is vehicle repossession. If you are struggling with your payments, make sure to reach out to your lender or loan servicer as soon as possible to discuss your options and try to avoid this unfortunate scenario.
Why Choose Choicecash Title Loans in Delaware?
There are many benefits of choosing ChoiceCash title loans in Delaware besides fast cash. When you work with ChoiceCash for your title loan needs in Delaware, you will experience the following advantages:1
- Transparent Application Process
- Competitive Interest Rates
- Access Up to Half of Your Car’s Value
- No Store Visit Required
In addition to the flexibility of the application process, you will also find that ChoiceCash title loans offer full transparency to Delaware residents. From the very beginning, a loan officer can walk you through your application and provide insight into every aspect of your loan. This includes your interest rate, loan amount, and the amount of time you have to repay the loan. If you are eligible for a ChoiceCash title loan, you can access competitive interest rates and receive up to 50% of your qualifying vehicle’s value! Qualified borrowers in Delaware can receive up to $15,000 through a Delaware title loan.1
If you are struggling financially as a resident of Delaware, then unlocking cash with your car’s title can be an advantageous option to explore. With ChoiceCash title loans serviced by LoanMart, you can begin your application from the comfort of your home and skip the hassle of a store visit. Both your title loan application and vehicle inspection can be completed virtually, allowing you to focus less on submitting a loan request and more on getting your finances back together.1
Through a ChoiceCash title loan, you can speedily move through our application process, and if you are eligible for final approval, you can receive your funds as soon as the next business day! Go online and complete a short questionnaire, or call 855-422-7402 to apply for car title loans in Delaware today.1
How Can I Pay for My Car Title Loan in Person?
Nowadays, people prefer to do things online, like purchasing groceries, clothes, cars, or other amenities. Thankfully, borrowers that acquire a ChoiceCash title loan in Delaware could easily pay their title loans back online.1 But what if you want to repay a loan in person? Is there no option for that? Fortunately, you can repay Delaware title loans at any MoneyGram location in your area!
For the sake of convenience for Delaware customers, below is a map and list of just a few locations in the area, with many more statewide locations found here.
Financial and Demographic Indicators for Delaware
The below table provides some of the key income, loan, and financial statistics for Delaware, which are intended to give you a better understanding of how your financial circumstances compare to other Delaware residents. With this information in hand, we hope you gain a better idea of your financial options so you can decide if completing a title loan application is the right decision for you:
| Average title loan amount with ChoiceCash | $4,415 |
| Household income (median) | $71,091 |
| Income per capita | $66,850 |
| Rent (average) | $1,646 |
| Gross rent (median) | $1,286 |
| Value of housing units (median, owner-occupied) | $326,800 |
| Monthly owner costs (median, with a mortgage) | $1,782 |
| Monthly owner costs (median) | $540 |
| Student loan indebtedness (average) | $38,683 |
| Credit card indebtedness (average) | $6,622 |
| Size of monthly car loan payment (average) | $618 |
| Percentage of households that rent | 28.0% |
| Bank branches | 200 |
| FICO® credit score average | 714 |
| VantageScore® credit score average | 705 |
What Locations in Delaware Can I Get a ChoiceCash Title Loan in?
ChoiceCash is proud to service residents all over Delaware including metro areas . Call 855-422-7402 to discuss your options with a loan expert. If you are looking to pay back your title loan in person, check out the city list below to see where your MoneyGram locations near Title Loans Delaware:
