Can I Get a Title Loan While Still Making Payments?

Title loans are a helpful financial resource that can allow borrowers from all different kinds of credit histories to use their vehicle as collateral for cash. The car you intend to use to secure title loan funding must have equity. Equity is the difference between the market value and what you currently owe on the vehicle.

If you are currently still financing your vehicle, you may be wondering – Can I get a title loan will still making payments?

The short answer is yes! Your vehicle could still qualify for a title loan while you are still making payments.1

How Can I Get a Title Loan While Still Making Payments?

Title loans are secured loans that use a borrower’s vehicle instead of their credit history for loan approval. If you are faced with an unexpected expense or upcoming bills, a title loan could be just the solution!

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Even if you are still making payments on your car, it could qualify as collateral for a title loan. Title loan eligibility is based on the equity in your car, not the number of payments you have left on it. You could still apply for title loan funds even if you are financing your vehicle!

To qualify for a car title loan, you will need:

  • Qualifying Car for Collateral
  • Car Title
  • Steady Income or Alternative Income

If you are like most borrowers, you may not know what your vehicle’s current equity is. The market changes a lot, but there are tools available to help you find an estimate. ChoiceCash Title Loans can offer an online title loan calculator that can take a few pieces of information about your vehicle and turn it into a loan estimate.

For a title loan calculator to estimate your vehicle’s value, you will need to provide the following information:

  1. The Make, Style, and Model of the Car
  2. The Year the Car Was Made
  3. The Condition of the Vehicle
  4. The Current Mileage on the Car
  5. The Amount Owed on the Cara

With this information, you could receive both a free equity estimate of your vehicle and a title loan quote!1

Will My Income Qualify for a Title Loan?

To be eligible for a title loan, a borrower must have:

  1. Qualifying Collateral, and
  2. An Income to Support a Loan Payment Each Month

Your loan amount and eligibility will be based on both factors. The more your vehicle is worth and the higher your income, the larger your loan amount could potentially be through a secured loan like a title loan.1

While you will need proof that you can afford the loan, you do not need a traditional 9-5 to apply for a title loan. Alternative forms of income can be accepted as well!

Some of the more common forms of alternative income that are accepted during the title loan approval process are:

  • SSI Income or Disability Income
  • Retirement Income or Pension Income
  • Annuities
  • Worker’s Compensation or Settlement
Does the Car Title Need to Be in My Name?

While you can qualify for a car title loan if you are still making payments on your vehicle, there are some stipulations to consider. To apply for a car title loan, a borrower must have the vehicle title in their name.

Until the title is in your name, you do not legally own the car and therefore cannot use it as collateral for a loan. You can request a title transfer from the DMV (Department of Motor Vehicles). This can ensure that the vehicle can be used as collateral.

What Documents Do I Need to Get a Title Loan While Still Making Payments?

There are a few documents besides a car title that will need to be submitted during the approval process. These documents can vary state to state, but you can expect to need to provide these:

  • Proof of Income: Most future borrowers will use pay stubs or bank statements to prove their income, but alternative forms of income may require other paperwork.
  • Proof of Address: If you have a recent credit card statement or utility bill laying around, this can be used to help prove your address. Or, use a rental agreement or voter’s registration card.
  • Recent Photos of the Car: Some title loan companies require an in-person inspection of a vehicle before they can approve a loan. ChoiceCash Title Loans, however, can offer an alternative online inspection when a borrower submits a few photos of their vehicle! Take pictures of the back, front, and sides of the car as well as the odometer.
  • Photo ID: To verify your identity, you will need to use a government-issued ID. Typically, most borrowers will use their driver’s license to do so.

For your convenience, ChoiceCash Title Loans can allow you to submit these documents online via email or fax!

How Much Funding Can I Receive Through a Car Title Loan?

The amount of funding you can receive through a title loan will depend almost entirely on the value of your vehicle. The more value your car has, the more equity you may be able to access during the approval process.1

If your vehicle has enough equity, you could be deemed eligible for emergency cash! With ChoiceCash Title Loans, approved borrowers can get their fast cash in as little as 24 hours.1 When you have a financial emergency to take care of, you don’t have time to waste.

Where Can I Apply to Get a Title Loan While Still Making Payments?

Ready to get the emergency cash you need? You can potentially get a title loan while still making payments on your vehicle!

Find out if your car can qualify for the cash you need today by:

  1. Going Online and Filling out a Short Inquiry Form
  2. Sending in Your Documents to Verify Your Information

It can take no time at all to figure out if you meet the requirements for a title loan! Head on over to the website to fill out your starting form or give a loan agent a call at 855-277-4847. ChoiceCash Title Loan agents are available seven days a week for extended hours to help you with all your title loan needs.

Can I Get a Title Loan While Still Making Payments?

Apply Now
GET YOUR CASH IN 24 HOURS!1

After filling your application form online, our title loan specialist can help you find the best way to pick up your cash in less than 24 hours.

Questions? Call 1-855-914-2945

Let's get started!

CALL OUR TITLE LOAN TEAM

Call our toll-free hotline and speak with a dedicated Title Loan specialist!

APPLY NOW

Apply online with our secure application. It may just take 5 minutes, and you may be approved within an hour! 1

GET YOUR CASH IN 24 HOURS!1

After filling your application form online, our title loan specialist can help you find the best way to pick up your cash in less than 24 hours.

Questions? Call 1-855-914-2945

Let's get started!

CALL OUR TITLE LOAN TEAM

Call our toll-free hotline and speak with a dedicated Title Loan specialist!

APPLY NOW

Apply online with our secure application. It may just take 5 minutes, and you may be approved within an hour! 1