Title loans can be a convenient financial option when you need fast cash for an upcoming bill or emergency expense. If you are looking to apply for a loan that offers speedy cash and convenience, you can use your vehicle’s title to get it!
If you’re searching for ease and an online financial option, you might be wondering- Do I have to sign my title loan contract in-person?
While many bank loans prefer to have customers sign their loan agreements face-to-face, ChoiceCash Title Loans is an option that can be accessed and signed online!
How Do Title Loans Work Online?
Even if you aren’t confident with your credit history, you may still qualify for fast funding through a title loan! Title loans allow borrowers to use their vehicle’s title instead of their credit score to get the funds they need.
Title loans are secured loans that base a borrower’s eligibility off their collateral’s value and their income. Collateral helps offset the risk for a borrower without a strong credit history to apply. If you have a steady income and a paid off vehicle in your name, you may be able to use your title to get the cash you need this month!
ChoiceCash Title Loans were created with convenience in mind. Borrowers can apply completely online from start to finish- and even get their cash in as little as 24 hours if they qualify!1
Will My Car Qualify for a Title Loan Online?
One of the biggest factors for title loan eligibility is the value of the borrower’s collateral. To qualify as collateral for a title loan, a vehicle must have a certain amount of equity. The use of collateral insinuates that the collateral must be worth something if the borrower does not meet the terms of the loan contract and fails to make payments.
Equity in vehicles is just the difference between the market value of the car and what the borrower may still owe on it. The less of a difference there is, the more equity the car has, and the more a loan amount could be.
While many borrowers may not know what their vehicle’s equity is, it’s not necessary before they apply for a title loan! ChoiceCash Title Loans has created an online title loan calculator that can do the hard work for you. Simply input this information into it and receive a free title loan quote and equity estimate:
- The Make, Model, and Year of the Car
- The Style of the Vehicle
- The Mileage of the Car
- The Condition of the Vehicle
Once you have your free title loan quote, you can start the inquiry process and sign the title loan contract once you receive approval!
How Much Cash Can I Get After I Sign My Title Loan Contract?
Typically, a borrower can use a title loan to access anywhere between 25%-75% of their vehicle’s value. The amount a borrower can access will depend on both their income and their vehicle’s equity instead of solely their credit history.
The more a vehicle is valued and the higher a borrower’s income, the more they can potentially borrow through a title loan. One of the unique benefits of a secured loan is the ability to access more than you would be able to through an unsecured loan that doesn’t use collateral.
What Documents Will I Need to Qualify for a Title Loan Contract?
While the approval process with ChoiceCash Title Loans can be done online, there are a few documents that will need to be submitted during the inquiry process. These documents can help a loan agent verify their information and speed up the approval process!
Before you can sign a title loan contract, you can expect to need these documents handy:
- Proof of Income: Since your loan amount and eligibility will depend on your income, you will need to submit some form of proof that you can afford a loan payment each month. Most borrowers will use their bank statements or a pay stub to prove this, but alternative forms of income are also accepted.
- Proof of Address: If you can find recent mail around your house such as a credit card bill or utility bill, it can be used to prove your address.
- Recent Photos of the Vehicle: You can skip an in-person vehicle inspection by submitting a few photos of your car!
- State or Government-Issued ID: Most borrowers will use their driver’s license to prove their identity, but other forms of ID such as a passport or military ID can be accepted.
- Car Title: To qualify, it must be in your name.
For your convenience, you can submit these documents online via email or fax!
After I Sign My Title Loan Contract, How Can I Repay My Loan?
Once you sign your title loan contract online, you may be wondering what the repayment process will look like. Your monthly payment with ChoiceCash Title Loans can be tailored to you and your income!1
There are a few different methods that you can choose from to pay your loan each month, and some do not even require a bank account:
- Pay by Check in the Mail
- Through the MyAccount Tab on the Website
- Pay by Phone Through a Credit or Debit Card
- Set Up an Automatic Withdrawal from a Checking Account
If I Do Not Have to Sign My Title Loan Contract In-Person, Where Can I Apply?
Now that you know you do not have to sign a title loan contract in-person, your next step is to get started on your title loan!
With ChoiceCash Title Loans, the entire inquiry process can be just three simple steps:
- Place a Loan Inquiry Online or Over the Phone
- Send in the Right Documents
- Get Approved and Sign the Title Loan Contract!
Ready to see if your car will qualify for the cash you need? Head over to the website or call a loan agent directly at 855-422-7402. Qualified borrowers could get their funds in as little as 24 hours!1