When you’re stuck in a financial bind, easy title loans can be a fast way to get cash using your car title instead of your credit score!1 If your finances have been hit hard this year, chances are your credit has seen better days.
With an easy title loan, all you will need to apply is:
- A Paid off or Close to Paid-Off Car
- A Few Documents to Verify Your Information
- A Clean Car Title in Your Name
Depending on the value of your car or vehicle, a title loan could help solve your financial woes! Typically, you’ll be able to borrow up to 50% of what your car is currently worth on the market.1 If you’re stuck in a bad spot and you need cash now, there are easy title loan resources to take advantage of! Qualified borrowers that are approved through ChoiceCash Title Loans can get their funds in as little as 24 hours.1
How Can I Use My Car Title to Apply for Easy Title Loans?
If you have a paid-off or close-to-paid-off vehicle, you could use your title to get cash! A title loan is a great financial resource to utilize if you are low on cash and need fast funding.1
Easy title loans can allow you to borrow off of the equity in your car in a hassle-free online process. By using your vehicle’s title as collateral for the loan, you may be able to borrow as much as 50% of your car’s value! 1 The more your car is worth, the more you may potentially be able to borrow through a title loan. If your car is in your name and has equity, you may be eligible for a title loan!1
Title loans are installment loans that are secured through collateral. If you are new to the ins and outs of title loans, you may not know how advantageous the use of collateral is when you apply for a loan! Since title loans are secured loans, they can offer future borrowers these helpful benefits:
- Easy Approval Process1: The approval process for a title loan can be flexible and easy! Title loans were designed to help borrowers from all different kinds of financial situations.1 Since collateral secures the loan, the lender has more security that you are a trustworthy borrower. This can make the approval process more flexible than unsecured loans, which often require high credit scores for loan approval.
- Competitive or Lower Interest Rates: Again, collateral is a useful tool! Since collateral is securing the loan, the interest rates can be more competitive with title loans. Secured loans do not rely on your credit as the only basis for loan approval. You may find more competitive interest rates with secured loans!1 2
- Get More Cash: With unsecured loans, your loan amount is based upon your income and credit history. With secured loans like title loans, you are using your vehicle’s value as collateral to secure funding! You may be able to obtain more cash through a title loan than you would through an unsecured loan.
Can I Apply for a Car Title Loan if My Car is Not Fully Paid Off?
If you’re looking to apply for easy title loans online, your car is the most important factor in the loan approval process. To qualify for a car title loan, you must have a paid-off or close-to-paid off vehicle.
Even if your car is not fully paid-off yet, you may still be able to qualify for a car title loan!1 A car title loan is based upon the vehicle’s market value, not how many payments on the car are left. While you may still be financing the vehicle, there could be equity you can borrow from!
For your close-to-paid-off vehicle to qualify as collateral for a car title loan, there are a few requirements:
- The Vehicle Must Have Enough Equity to Borrow From
- The Borrower Must Have an Income to Support the Title Loan Payments Each Month
If you are not sure what your car could be worth, you are like most borrowers! Fortunately, if you do not know your car’s details there are online resources you can take advantage of. The easiest way to find your car’s equity is through an online title loan calculator. By simply inputting information about your vehicle, you can receive an equity estimate and a free title loan quote!1
Will My Bad Credit Make Me Ineligible for a Car Title Loan?
If you are struggling financially, your credit may not be up to par to apply for a traditional loan. Fortunately, title loans are some of the most flexible loans to apply for! Even if your credit is poor, you can still apply for a title loan.1
Since easy title loans are secured through collateral, there are two more important factors in the approval process besides your credit history:
- The Value of Your Collateral
- Your Income and Ability to Pay Back Your Loan
While your credit history may be considered, it is not the most important part of the title loan process.
What Documents Do I Need to Apply for a Car Title Loan?
If you are searching to apply for easy title loans, there are a few documents you may want to have handy beforehand! These documents are required and will be requested by a loan agent to verify your information and vehicle ownership.
Fortunately, title loans are all about flexibility and convenience. These documents can be submitted online from the comfort of your home! You can expect to need:
- Your Vehicle’s Title: This is the most important document you will need! If you are not aware of your title’s whereabouts, a loan agent may be able to help you recover it.
- Proof of Address: Many borrowers will use recent mail as proof of address! Voter registration, recent utility bills, or even your phone bill will work.
- Photo ID: Typically, it will need to be a state-issued or government-issued ID to qualify. A lot of future borrowers will use their driver’s license or passport!
- Recent Photos of the Collateral: If you were to apply for a title loan in person, a lender will often request a vehicle inspection. With loan options like ChoiceCash Title Loans, however, you can take a few pictures from your smartphone and text them in!
- Proof of Income: Many borrowers will use bank statements, benefits statements, invoices, or even paycheck stubs as proof of income.
Do I Need a 9-5 Job to Apply for Easy Title Loans?
To qualify for a title loan, you must show proof of your ability to repay. While most traditional loans will require traditional employment, a title loan can be more flexible! You do not need a traditional 9-5 job to qualify for a title loan.
Instead, many different types of alternative income are accepted as proof of ability to repay. Some of the more common forms of alternative income are:
- Worker’s Compensation
- Disability Benefits
- Social Security Benefits
- Retirement or Annuities
- Self-Employment/ Small Business Owners
If you aren’t sure if your type of income will qualify, a loan agent is more than happy to answer your questions at 855-277-4847. The approval process for easy title loans can be simple and accessible!1 Title loans are known for helping borrowers find alternative and fast funding when they have been turned down by traditional lending options.
Where Can I Apply for Easy Title Loans Online?
When you’re like most borrowers, you apply for everything you can online to save time! Whether you are experiencing a financial emergency, or you simply want to get your cash fast, you can apply for easy title loans online. With loan options like ChoiceCash Title Loans serviced by LoanMart, the process to apply can take just three simple steps:
- Fill out a Loan Inquiry Online or Over the Phone with an Agent
- Send in a Few Documents to Verify your Information
- Get Your Cash if You are Qualified!
If you can get your cash in as little as 24 hours with ChoiceCash Title Loans, why wait to see if you are qualified?1 Apply for easy title loans just a few minutes by filling out a short inquiry form online. Or, get started by calling a loan agent at 855-277-4847. Loan agents are available for extended hours day or night to help answer any questions you may have about the approval process! You’ll have access to the help you need to get the cash you want. 1