How to Get a Car Title Loan with a Recently Transferred Title

Can You Get a Car Title Loan With a Recently Transferred Title?

Through a vehicle-secured loan, you can access a portion of your vehicle’s overall value and receive quick funds to manage unexpected expenses.¹ In order to qualify for an auto title loan, you will pledge a car or truck title in your name as collateral for the loan and provide proof of income.¹ If you recently purchased your vehicle, you may wonder, “How can I get a car title loan with a recently transferred title?”

A recently transferred title means the legal ownership of a car has been officially changed from one person to another. This process happens whenever a vehicle is bought or sold, but it can also occur when a vehicle is gifted or inherited.

When applying for a car title loan with a new title, some lenders may scrutinize the borrower’s documents and other aspects of the application process due to concerns about potential ownership issues. An applicant cannot qualify for an online title loan without a title in their name, and they must have a clear title prior to beginning the application process.

Thankfully, title lenders can allow you to apply for an auto title loan with a recently transferred title as long as the title meets the aforementioned criteria. Because the application is often under more scrutiny, some lenders may require the borrower to provide extra documentation to verify the title transfer and other applicable information. You may have the opportunity to get emergency cash even if you recently purchased or inherited a new vehicle.

Get the cash you need for an unexpected bill or expense by applying for a ChoiceCash title loan online with no store visit. Submit a short prequalification form online now to begin the application process from the comfort of your home! Contact a ChoiceCash title loan agent at 855-422-7402 if you have questions about obtaining quick cash using a new vehicle title.

What Documents Do I Need to Get a Title Loan After Purchasing a Vehicle?

While having a car title in your name is important to be eligible for funding, you can expect to submit additional documentation during the title loan application process. The required documents are used to verify specific information, such as your income, address, and identity. When applying for a ChoiceCash car title loan serviced by LoanMart, you can conveniently upload everything online or send your items directly to a title loan agent via email or text message.¹

As a title loan applicant, you can expect to submit the following paperwork when applying for a ChoiceCash title loan after purchasing a vehicle:

• The Recently Transferred Title of Your Car, Truck, or SUV
• A Valid, Government-Issued Photo ID (Your Driver’s License, U.S. Passport, Etc.)
• Proof of Residence Through Official Mail (Utility Bills, Credit Card Statements, Etc.)
• Recent Pictures of Your Vehicle to Complete a Virtual Car Inspection
• Evidence of Income Through Bank Statements, Pay Stubs, or Other Paperwork, Such as Benefits Letters

Don’t hesitate to call a title loan representative at 855-422-7402 if you have questions about the documents you’ll need to get emergency funding. If you’re eligible for a ChoiceCash title loan with a recently transferred title, you can access flexible repayment options and receive your title loan proceeds in as little as 24 hours!¹

What Are the Steps to Get an Auto Title Loan With a Recently Transferred Title?

Before you apply for an auto title loan with a recently transferred title, learning more about the title loan application process can help you make an informed decision. Here is a brief overview of the steps you must take to get a car title loan with a new title, and what you can expect as an applicant:¹

1. Understand the Status of Your Car Title: It’s important to ensure that your vehicle’s title is in your name and free of any liens prior to submitting a title loan request online or over the phone. If the car title isn’t currently in your name, visit your state’s respective Department of Motor Vehicles (DMV) office and follow the appropriate steps to complete a title transfer if you are the vehicle’s rightful owner. If your vehicle title has a lien on it, understand that a lien will affect the ownership of the car until it is removed from the title by the appropriate party after you have completed your payment obligations. If you recently paid off your car loan and you do not live in a state that participates in the Electronic Lien and Title (ELT) system, the lienholder will send you the lien release document or title via mail. Once you have this document, you can visit the applicable DMV office to remove the lien and receive an updated title. For states that use the ELT system, the lender will notify the appropriate agency electronically about the lien release, and you can receive a new title through the mail.
2. Find a Reputable Title Loan Lender: Once you have your car’s title in the right shape to apply for a title loan, you can search for a reliable title loan company. Conduct your research on reputable websites, such as the Better Business Bureau and Trustpilot, to find a lender or loan servicer that offers exceptional customer service and convenient loan terms. Through a ChoiceCash title loan serviced by LoanMart, you can expect competitive interest rates and flexible loan terms if you’re fully approved for funding!¹
3. Start Your Application: After finding your preferred title loan option, start the convenient application process in person, online, or over the phone! To apply for a ChoiceCash title loan, simply fill out an application form online and provide some basic information about yourself and your vehicle. As soon as your form is submitted, you will discover if you are pre-approved for funding. From there, you can provide the necessary paperwork to verify your personal information and vehicle ownership.¹
4. Complete a Car Inspection: When applying for a car title loan with a new title, your loan amount and eligibility are largely based on the value of your vehicle and your income.¹ Your car or truck must have a qualifying amount of positive equity. To determine your vehicle’s value and overall condition, you will complete a car examination in person or online when applying for a title loan. By submitting photos of your car’s interior and exterior during your application for a ChoiceCash title loan, its value can be appraised virtually.
5. Get Your Title Loan Funding: Once the vehicle check is done and your documents are submitted and reviewed for completeness, you’ll be notified if you’re fully approved for an online title loan. A loan contract will be created, and you can review it with your title loan officer in order to discuss your loan terms. If you decide to proceed with your application, you can choose how to get your title loan funding and sign your loan agreement! Through ChoiceCash title loans, you can get your money sent via direct deposit to your bank account, have the funds added to a debit card, get a check sent through the mail, or simply pick up your cash at a participating money transfer location near you.

Potential Challenges of Applying for an Online Title Loan With a New Car Title

Applying for an online title loan with a new title can be fairly straightforward once you follow the appropriate steps to get emergency cash. However, understanding some issues that may occur during your application can help you avoid any delays or mishaps when applying for a title loan.¹

Check out some potential challenges of getting a car title loan after purchasing or inheriting a car, and how you can overcome them as an applicant:

• Title Transfer Process is Not Complete: Having a vehicle title signed over to you by the previous owner is only the first step in the title transfer process. If you apply for an auto title loan with a signed-over title but the transfer process isn’t fully complete, you will have a hard time qualifying for fast cash. Once the title is signed, visit your local government agency to complete the title transfer process before applying for a title loan.
• Errors on Your Car Title: Unfortunately, a seller can transfer the title to a buyer, but errors may have been committed during the title transfer process. If the previous owner wasn’t careful, they may have spelled a name wrong when signing over the title or provided incorrect information on the document. If you discover an error on your car’s title, it can impact your eligibility for a title loan, but more importantly, it must be corrected as soon as possible! Contact your state’s appropriate government agency immediately to determine the necessary steps to correct the issue.
• More Scrutiny During the Application Process: As mentioned above, title loan applications involving recently transferred titles are often subject to more scrutiny. Depending on the lender you work with, you may be required to submit additional documentation during your loan request.

When obtaining a new vehicle title, ensure everything is in order before submitting a title loan application. If you have a problem with your car’s title and you aren’t sure how to fix it, you must speak with a representative from your local DMV (or state equivalent) to discuss your options. As soon as your vehicle title is in the right shape to apply for a title loan, you can start your application by completing a short questionnaire online!

What Are Some Tips for Getting a Car Title Loan With a Recently Transferred Title?

Searching for tips on getting a car title loan with a recently transferred title? While the application process can be easy after learning what to do and what things to look out for, you may want additional advice to help you feel more confident about starting an application.¹ Here’s a quick look at some of the tips to consider ahead of time:

• Ensure the Title Transfer Process is Complete and There are No Errors on Your Car’s Title
• Gather All the Required Documentation to Qualify for Fast Funding in Advance, But Remember That You May Need to Provide Additional Paperwork
• Do Your Research and Choose a Reputable Lender or Loan Servicer That Offers a Flexible Application Process for Applicants with Recently Transferred Titles

If you’re interested in receiving quick money but you have questions about the title loan process, you can call a ChoiceCash title loan representative at 855-422-7402 for more information about applying for a car-secured loan.

Apply for a Choicecash Title Loan With a Recently Transferred Car Title!

Getting the quick cash you need for unexpected expenses can be easy and streamlined. Apply for a ChoiceCash car title loan with a recently transferred title by filling out a brief prequalification form online or by calling 855-422-7402. If you receive full approval and decide to sign your loan agreement, you can expect additional perks beyond emergency funding, including fast cash in as little as 24 hours and the ability to drive your car during the repayment process!¹