How Much Can I Get on a Title Loan?
If you have bad credit, it can be difficult to obtain approval for an unsecured loan. But, online title loans can be flexible, and perfect credit isn’t required to apply for quick funding.1 You might wonder, “How much can I get on a title loan?” Well, it mainly depends on your car’s value and your income, although other factors can influence your total loan amount. With a car title loan, you can usually borrow anywhere from 25%-50% of the car’s total value.1
You can apply for a ChoiceCash title loan serviced by LoanMart online today! Or, just call 855-422-7402 to speak with a ChoiceCash title loan agent. Title loan representatives are available six days a week for extended hours to take your call. So don’t hesitate to reach out and find out how much you can get with a title loan!1
What is the Smallest Title Loan You Can Get?
Typically, if you qualify for a title loan, you will be able to access up to 50% of the total value of your vehicle. The smallest title loan you can get will usually depend on the title loan lender you choose to work with and your current state of residence. However, you do not have to take the entire loan amount you are eligible to borrow through a title loan.1
What is the Title Loan Value of My Car?
You may be wondering, “How can I learn more about the current title loan value of my car?” As previously mentioned, the amount you can obtain through a title loan will depend on a few different factors, including the amount of equity in your vehicle and your income. You will need to have a reasonable amount of positive equity in your car or truck in order to qualify for an auto title loan!1
Do you know your car’s current value? If you answered no, you aren’t alone! To determine if you have negative or positive equity in your car, you can subtract the amount remaining on your auto loan from the current market value of your vehicle.
You can use a website like Kelley Blue Book or visit a car dealership to get an estimate of the current equity in your car. But, if you want to learn more about your car’s current value and receive a loan quote free of obligation, you can use ChoiceCash’s online title loan calculator tool.1
How Much is My Car Worth for a Title Loan?
If you are eligible for a car title loan, you can access a percentage of the overall value of your vehicle. Your current state of residence, income, and the total value of your car will predominantly affect the amount you can receive through a title loan. Title lenders will require an applicant to provide proof of income during their application in order to determine the monthly payment they can potentially afford if they are eligible for a loan. Depending on your income and the state you currently live in, you could potentially receive up to $15,000 if you qualify for a car title loan!1
Since there are so many different factors that can affect the current value of your vehicle, including your location and the amount you still owe on it, the simplest way to find out how much your car is worth for a title loan is to use an online title loan calculator.1 It only takes a few minutes to submit your information and get a loan quote with no obligation! Qualified borrowers can choose direct deposit to get their money in as little as one business day with a ChoiceCash title loan serviced by LoanMart.1 All you will need to do is submit the following information about your vehicle and yourself into the online title loan calculator:1
- The Year, Make, Model, and Style of the Car
- Your Current State of Residence
- The Current Mileage on the Odometer
What Do I Need to Apply for a Title Loan Near Me?
Now that you have learned how much you can get on a title loan, you might wonder what you need to qualify for one. The following documents will be required during your title loan application:1
- A Valid, Government or State-Issued Photo ID: Most applicants will submit their driver’s license or passport, but you can use other acceptable items such as a state identification card.1
- Proof of Address: You must provide proof of your current address during a title loan inquiry. You can use recent phone bills, utility bills, credit card statements, lease agreements, mortgage statements, etc.
- Proof of a Vehicle Title in Your Name: The title must be in your name at the time of your application because it is used as collateral to secure the loan. If you are still making payments on your car, the title loan lender may ask you to complete and sign a form authorizing them to pay off your current car loan.
- Proof of a Steady or Alternative Income: Some car title loan applicants will use bank statements or pay stubs to prove their income. But, you can also submit proof of alternative income, like disability benefits, worker’s compensation, or retirement income.
- Recent Photos of Your Vehicle: A physical vehicle inspection is not required when you apply for a title loan online! Instead, you can access an online inspection by providing a few pictures of your vehicle. A ChoiceCash title loan agent will ask you to submit current photos of your vehicle from different angles. Also, you will need to submit a picture of the odometer reading.
How Fast Can I Get a Title Loan?
The application process for a ChoiceCash title loan was designed to provide prospective borrowers with a convenient and flexible way to apply for emergency cash.1 You can fill out an online inquiry form and find out if you qualify for instant pre-approval today!1
Don’t wait to apply online and discover if you are eligible for the financial assistance you need! Upon approval, you could receive your loan proceeds in as little as one business day if you choose direct deposit or have your money added to a debit card!1 Are you curious about how much you can get with a car title loan? Call 855-422-7402 or click here to apply for a ChoiceCash title loan serviced by LoanMart today.1