Does my Car Have to be Paid Off for Title Loans?

If you’re in need of a title loan but you don’t have a paid off vehicle, you might think it isn’t the right loan for you. However, that isn’t always the case! Some borrowers that do not have a paid off vehicle can still be eligible for a title loan through ChoiceCash Title Loans.1

How Can I Get a Title Loan if My Car Is Not Paid off?

Whether you are currently making payments on your car, or have paid it off in full, there may be a good amount of equity in your vehicle. A car title loan is based on the amount of equity that is currently in the vehicle, not necessarily the amount of payments left on it.

Generally, if there are 6 months or less of payments, then your chosen title loan lender can fund a loan to cover the rest of those expenses1. This simply means that your remaining balance  on your financed vehicle will be added to the loan you’ll repay through your new lender! This can help pay off the rest of what you need to use your vehicle as collateral for the title loan.

How Do I Know if My Car Has Enough Equity to Qualify for a Title Loan?

Even if your car is not paid off yet, it still has a certain amount of equity. In order to qualify for a title loan, borrowers need to have a vehicle with a certain amount of value. This acts as a form of security to the lender that the loan can be repaid, as it will secure the loan with collateral.


Call our toll-free hotline to speak with a specialist.

Not every borrower has their vehicle’s equity value off the top of their head, however. But there are helpful ways to find out:

  1. Dealership Appraisal or Estimate
  2. Kelley Blue Book Value Online
  3. ChoiceCash Title Loan Calculator

One of the benefits of choosing the title loan calculator to estimate the equity of your vehicle is that you can get your estimate for your loan through it! Even if your car is not paid off, you may still receive your estimate for a loan.1

Why Choose a Title Loan for Funding If My Car is not Paid Off?

Even if your vehicle is not completely paid off, there are still reasons to choose it for funding! With loan options like ChoiceCash Title Loans serviced by LoanMart, eligible borrowers have access to tons of benefits that help them and their wallet:

  1. Faster Funds: Borrowers that choose ChoiceCash Title Loans for funding can get their approved funds in as little as one business day, even if their car is not paid off yet!1
  2. Competitive Interest Rates: Whether your vehicle is paid off or not, choosing a loan like ChoiceCash Title Loans allows you to have access to competitive interest rates throughout the entirety of your loan. This is a huge benefit to take notice of, because interest is one of the most powerful factors of your loan! It controls how much you’ll be paying off in the long run, which is especially important if you are using this loan to cover the rest of your car payments.
  3. Drive Your Car: Even though you are using the title of your vehicle to secure the loan, that doesn’t mean giving up your car!Borrowers that make responsible, timely payments  can keep driving their vehicle as they normally would during their loan repayment. No need to rely on ridesharing apps to get you where you need to be!
  4. Flexible Loan Terms: Approved borrowers that choose ChoiceCash Title Loans for funding have access to flexible terms that suit their financial situation!
  5. Bad Credit is OK: Even if you aren’t happy with your credit score, that doesn’t make you are ineligible for a title loan. Borrowers from all financial backgrounds and credit histories can be eligible for a loan!1 Since collateral is used to secure the loan, the most important factors for eligibility are:
    • The Equity Value of your Collateral
    • Your Ability to Repay the Loan
Does My Car Need to Be Paid off to Apply for a Title Loan?

If your vehicle is not paid off, you might be wondering how the loan process will work for you. Fortunately, with ChoiceCash Title Loans, borrowers can find out if they are approved for cash in just three easy steps:

  1. Submit a loan inquiry online and answer a few basic questions about your car.
  2. After submitting an inquiry, borrowers should submit a couple documents online for a loan agent to review.
  3. Once everything has been submitted and approved, all that’s left to do is choose how to receive the money!1 A representative will reach out and inform a borrower of their approval status. Approved borrowers can choose:
    • Direct Deposit,
    • Check in The Mail, Or
    • Any Local MoneyGram Location That Is Closest to Them

Why Wait to Get Your Money?

If you could get your cash in as little as one business day1, why wait? Borrowers can get started by going online, or calling toll-free to reach a representative directly at 1-855-914-2945 .

Apply Now

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


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