If you have a car and you’re in need of some emergency cash, a title loan may have crossed your mind. “Does the car need to be in my name to get a title loan?” It does, but obtaining a new car title with your name is easy!
Check out the steps you’ll need to follow to get a car title in your name for a title loan.
How to Get the Car in My Name to Get a Title Loan?
If your car is not currently in your name, you are limited in what you can do with it. The car legally belongs to the person whose name is on the title. Until you formally inquire for a new car title, you are not allowed to sell it, trade it, or use it as collateral for funding.
But adding or removing names from a car title is easy, check out the general steps below:
- Get the Title Signed: The first step of the title transfer process is to have the back of the car title signed by the current owner. By signing the back, the current owner releases ownership.
- Complete a Form: To speed up the title transfer process, you could print and complete a request form on your state’s Department of Motor Vehicle (“DMV”) website. It’s also a good idea to verify what documents you need before visiting.
- Visit the DMV: Once you know what you need and you have your form ready, you could head to the DMV. A title transfer could cost you, so make sure you have money for the fee.
- Complete the Process: Once your information is verified and you pay the fee, you will likely get a temporary car title. You could use the temporary car title until the new one arrives by mail.
If you don’t have a car title because you lost it, you will need to request a duplicate copy. Similarly to the title transfer process, you will need to complete a form and visit your local DMV. The documents you will need however, may differ so check online beforehand.
How to Qualify to Get a Title Loan with the Car in My Name?
Once you complete the title transfer process and you have an updated car title with your name, you could inquire for a title loan! There are various loan options to choose from, but ChoiceCash Title Loans come with flexible requirements and a multitude of benefits that make borrowing funds affordable.1
Instead of relying exclusively on credit, title loan qualification depends on the value of the car and one’s ability to make timely payments. To quickly find out how much your car is worth, you could use an online car value calculator.
You will be asked a few basic questions about the car, including the year, make, model, style, and current mileage. If your car is worth enough money on the market, you could receive a free title loan estimate and a preapproval decision! Learn how much you could potentially get with ChoiceCash Title Loans in just a few minutes!1
Benefits I Could Get with a Title Loan if the Car is in My Name?
ChoiceCash Title Loans are unlike other financial options because eligible borrowers could get benefits that pay for themselves! Take a look at how a ChoiceCash Title Loan could get more affordable over time as the borrower makes payments!
- Monthly title loan payments could drop every month!2
- The final title loan payment could be half as much as the first payment was!2
- There are no hiddenfees or balloon payments to worry about!
- Borrowers get the freedom to repay at any time with no prepayment penalties!
- ITIN and Matricula are accepted!
- Same day approval is possible with ChoiceCash Title Loans!1
Rates and payments could steadily go down if the title loan borrower continuously makes on time payments2. In addition, borrowers in need of more funding could inquire for it and potentially receive it at their current discounted rate!1, 2 No other loan option offers such incredible perks.
Steps Needed to Get a Title Loan with the Car in My Name?
Ready to start inquiring for a ChoiceCash Title Loan? Having bad credit may not even be a problem because qualification requirements are flexible! All you need to get a title loan is a car in your name and a consistent source of income!2
Start the process by speaking to a title loan agent toll-free at (855) 914-2945 or completing the title loan questionnaire online. Finding out if you qualify could only take a few minutes! If you are deemed eligible, you could start the approval process and possibly get your money the same day!
ChoiceCash Title Loans, serviced by LoanMart could help you regain your financial independence.1 Inquire today and you could unlock the equity in your car if the title is in your name!