Secured Loan with a Car Title

Can You Get a Secured Loan with a Car Title?

Yes! You can apply for a secured loan with your car title. You can get a type of secured loan called a title loan by using your car’s title as collateral for funding! In simple terms, collateral is an asset that an eligible borrower pledges to a lender. 

You can pledge the title of your car or truck as collateral for a title loan and access quick funding to take care of unexpected expenses. Title loan applications typically include a credit check, but your score isn’t the only factor that a title lender will consider.¹

Instead, your ability to repay the loan and the amount of positive equity in your vehicle will matter the most during the title loan application process. Both of these characteristics are used by lenders to determine your loan amount and eligibility for a secured title loan. Use ChoiceCash’s online calculator tool to learn more about the current amount of equity in your vehicle and receive a loan quote with no obligation!¹ Visit the ChoiceCash website or call 855-422-7402 to learn more about secured title loans.

What Happens When You Get a Loan by Using a Car as Collateral?

You might be wondering, “What happens to my vehicle if I qualify for a loan by using my car as collateral?” 

Typically, if you are eligible for a secured loan with your car title, a lien will be added to your title by the lender once the loan is complete. The lien establishes the title lender’s legal right to your car. In some cases, the title lender will repossess your vehicle if you default on the loan. 

Most lenders prefer to avoid vehicle repossessions and may be willing to work with you if your loan payments become unmanageable. A title loan lender will release the lien after you have completely paid off your car title loan. Throughout the repayment process, you will be able to access your vehicle and drive it wherever you need to go. Just make sure to pay your loan on time! 

If a title loan sounds like the right choice for your financial situation, don’t wait to find out if you can qualify for instant pre-approval.¹ With ChoiceCash title loans, you could access a flexible and convenient application process from your smartphone or computer! If you obtain loan approval, you could receive competitive interest rates and quick funding in as little as one business day.¹

Contact a ChoiceCash title loan representative at 855-422-7402 if you have questions about using a car title as collateral for emergency funding. Title loan agents are available six days a week for extended hours to answer any questions you may have about secured car title loans!

Can You Get a Secured Title Loan Without Owning a Car?

You may not need to own the car outright to apply for a secured loan with a car title. However, if you are still financing your car, then the title lender may ask you to complete and sign a form authorizing them to pay off your existing car loan. 

Additionally, in order to qualify for a title loan, the title to your car or truck must be in your name at the time of your inquiry. If the title does not meet the necessary criteria, you will need to visit your state’s respective Department of Motor Vehicles (DMV) to request a title transfer to your name! You can also replace a lost or stolen title at the DMV by filling out an application for a duplicate title.

If you want to get a loan by using your car as collateral, you can apply online or over the phone! Submit a pre-approval form on the ChoiceCash website or call 855-422-7402 today to get started.¹

How Much Money Can I Get by Using a Car as Collateral for a Loan?

The amount of money you could get by using your car title as collateral for a loan will largely depend on the current amount of equity in your car / truck and your ability to repay the loan. Depending on your state of residence, if you qualify for a secured title loan, you could potentially access up to $15,000!¹ 

If you don’t know the current amount of equity in your car, you can use ChoiceCash’s online calculator tool to obtain an estimate. Just enter a few details about your car into the online tool to receive a fast estimate and a loan quote today! There’s no obligation to use the online tool.¹ Dial 855-422-7402 if you have questions about how much money you can get through a secured loan with a car title.

What are the Benefits of a Secured Loan with a Car Title?

There are a number of advantages that come with using your car title as collateral for a loan. An applicant with a poor credit history may still be eligible for emergency funding through a title loan because secured loans are often more flexible than unsecured loans.¹

Here are some examples of benefits you could expect if you qualify for a ChoiceCash title loan serviced by LoanMart:¹

• Quick Funding_¹
• Keep Driving Your Car
• No Hidden Fees or Prepayment Penalties
• Competitive Interest Rates¹
• Exceptional Customer Service

If you apply for a ChoiceCash title loan, you could expect a streamlined approval process to help you get emergency funding in no time at all! To apply, all you will need to do is fill out an online application, submit a few documents to verify your information, and find out if you qualify!¹

Apply for Car Collateral Loans Today

So, what are you waiting for? Applying for car collateral loans can be simple and quick! Visit the FAQ page to learn more about the requirements to get a secured loan with your car title today.¹

Go online or dial 855-422-7402 to start the approval process for a ChoiceCash title loan today! It may only take a few minutes to complete the application process and as little as 24 hours to get quick funding if you qualify.¹