Getting cash for your car can be easier than you think! Title loans are a type of secured loan that is based on the value in your car. If you own or finance your vehicle, the vehicle will have a certain amount of value that can be accessed through a title loan.
Title loans can offer a secured funding option that is flexible and has high approval rates!1 Instead of searching for “a loan against my car”, you can apply for cash directly from your smartphone or computer through loan options like ChoiceCash Title Loans.
How Can I Get a Loan Against My Car?
If a title loan is a new financial resource to you, then they may seem a bit confusing. You might be asking yourself-how is it possible to get a loan against my car?
Title loans are secured through collateral, which is the title to their car. The use of collateral allows a borrow to use their vehicle’s title instead of their credit history to obtain the cash they need. Essentially, a title loan allows you to borrow against the equity in your car and turn it into cash.
To apply for a title loan, you will need:
- A Car Title in Your Name
- A Steady Income
- A Vehicle with Value!
With ChoiceCash Title Loans serviced by LoanMart, you can use your vehicle to get the cash you need in a tough financial situation. Once approved, you can choose from a variety of payment plans and even keep driving your car while you make consistent payments on your loan!1 If you have a vehicle title in your name and a steady income, your chances to get the approval you need for a title loan can be high.1
What is the Payment Process Like for a Loan Against My Car?
Once you are approved for a car title loan with ChoiceCash Title Loans, the repayment schedule can be created and tailored to your income. Borrowers can have more time to pay if they need it!1
There are a multitude of ways to repay a loan against your car, including:
- A Check in the Mail
- Automatic Withdrawals from Your Checking Account
- Paid By Phone through a Credit Card
- Paid Through the MyAccount Tab Online
What Documents Will I Need to Apply for a Loan Against My Car?
While applying for a title loan can be fast and flexible, there are a few documents you will need to have handy during the approval process. These documents can help a loan agent verify your information and qualify you for a loan!1
Typically, you can expect to need these documents handy:
- Proof of Residence: If you have a recent utility bill around or a credit card statement, both can be used to prove your address.
- Proof of Income: Invoices, bank statements, and pay stubs can be used to prove income. Alternative forms of income can also be accepted!
- Car Title: To get a loan against your car, the vehicle title must be in your name.
- Photo ID: A government-issued photo ID is needed to help verify your identity. Most future borrowers will use their driver’s license or passport to do so.
- Recent Photos of the Vehicle: You can skip an in-person vehicle inspection with ChoiceCash Title Loans if you submit a few photos of your vehicle! Take photos of the back, front, sides, and the odometer.
For your convenience, these documents can be submitted online via email or fax when you apply with ChoiceCash Title Loans!
What are the Benefits of a Title Loan?
Title loans can offer you more than just cash when you need it! With loan options like ChoiceCash Title Loans, borrowers can take advantage of these benefits after receiving approval:
- Payments Start Low, and Can Get Even Lower2: Wouldn’t you like to be rewarded for doing something as simple as paying your loan back on time? ChoiceCash Title Loans offers this opportunity for responsible borrowers!2 Your interest and monthly payment could get lower through this reward.2
- A Fast Way to Get Cash: Qualified borrowers can get their cash in as little as 24 hours with ChoiceCash Title Loasns!1 If you’re facing a tough financial emergency, you need a loan that can keep up with your needs and time constraints.
- Keep Your Keys: Although you are using your vehicle’s title as collateral for the loan, you can keep your keys and drive it during the repayment process if you make your loan payments on time.
- Quality Customer Service: Loan agents are available for extended hours, seven days a week to help answer all questions you might have about your loan.
- More Time to Pay: Qualified ChoiceCash Title Loan borrowers can have more time to pay if they need it!1
What Can I Use My Title Loan Funding for?
Qualified borrowers of a ChoiceCash Title Loan come from all different kinds of financial backgrounds and histories. While your financial emergency may not be the same as another borrower, a title loan can be used to cover a variety of situations and unexpected expenses!
Some of the most common uses for title loan funds are:
- Paying for Rent or an Unexpected Bill
- Debt Consolidation
- Medical Bills or Surgery Costs
- Car/Home Repairs and Maintenance
- Wedding Expenses or Funeral Costs
You can use a loan against your car to cover a variety of financial situations and cash issues!1
How Can I Apply for a Loan Against My Car Online?
Ready to see if you can qualify for a loan against your car? ChoiceCash Title Loans can make the process easy and fast with just three simple steps:
- Submit a Loan Inquiry Online or Over the Phone
- Send in a Few Documents to Verify Your Information
- Get Approved and Collect Your Cash!1