Title Loans on SUVs

With sport-utility vehicles representing more than half of new vehicle sales in the United States, chances are there’s one in your garage or driveway right now. Now, let’s say you’ve encountered a financial emergency and you’re going to need to borrow money to deal with it. Let’s also say you’ve had credit problems in the past, so going to a traditional bank might not work for you. The good news is there are lenders who will write title loans on SUVs.¹ Here’s what you need to know to use the equity you have in your SUV to deal with a large expense you weren’t expecting.

What Are Title Loans on Suvs?

An auto equity loan lets you use your SUV, registered in your name, as collateral. After funding your loan, the lender places a lien on your vehicle’s title and removes it when you pay off the loan in full. One of the most significant benefits of an auto title loan is you can keep your sport-utility vehicle throughout the loan term and continue driving it while making on-time payments. That’s not the case with most auto pawn loans, which may require you to leave your SUV with the lender until your debt is paid.

Overall, vehicle-secured loans provide a more readily accessible alternative to traditional bank loans, offering simpler qualification requirements and faster approval.¹ ChoiceCash even considers applicants with less-than-perfect credit, making it easier for you to access the funds you need. Also, while banks generally offer lower interest rates than title loans, our rates are competitive with those for similar types of loans.

A key potential benefit of using your SUV to secure an auto equity loan is that sport-utility vehicles tend to carry more value than cars in similar segments of the market. The value of your SUV hinges on its make, model, mileage, year and overall condition. This matters because the more your vehicle is worth, the larger your potential loan. In fact, you can often borrow up to half the value of your SUV, depending on your state’s limits and the policies of the lender.¹

Eligibility Requirements for Title Loans on Suvs

To qualify for an SUV title loan with ChoiceCash, you must be at least 18 years old and reside in the state within which you’re applying.¹ You’ll also need a dependable income source and an SUV registered in your name with enough value to support the loan. We keep the process simple so you can access the funds you need – fast.

Similarly, we don’t require a lot of documentation. You’ll need to show a valid government-issued photo ID and proof of a steady income – whether from traditional employment or another source such as Social Security or retirement benefits. You’ll also need to provide a copy of your SUV’s title, along with clear, up-to-date photos of the vehicle, inside and out. We also need images of the Vehicle Identification Number (VIN) and the odometer reading. In some cases, you may also need to submit a DMV form granting ChoiceCash permission to place a lien on your SUVs title.

With ChoiceCash, there’s no need for an in-person vehicle inspection. You can complete the entire process from home.

The Application Process for Title Loans on Suvs

While every auto title lender has its own application process, ours is streamlined so we can consider the loan on your SUV more quickly. In most cases, our application takes about five minutes to complete and it can often be approved in under an hour. Once we have verified your documents and issued a final approval, the funds are typically available in one business day – sometimes even sooner.¹

Here’s the simple ChoiceCash step-by-step process:

• Submit a brief prequalification form, or apply by phone at 855-422-7402¹
• Turn in the required documents upon approval
• Sign your loan agreement
• Deliver your SUV title
• Get your cash

Throughout the entire loan approval process, you can expect exemplary customer service and support. Our agents are available to answer any questions you may have. We also have bilingual customer service people if you speak Spanish.

Things to Consider Before Getting a Title Loan on Your Suv

While scores of consumers nationwide have relied on title loans to get out of financial jams, you should understand the potential risks and benefits of using your SUV as collateral.

1. Title loans generally carry higher interest rates than bank loans. However, ChoiceCash interest rates also tend to be lower than those for payday loans.
2. ChoiceCash reports your payments to the credit bureaus. If you miss payments, or default on your car equity loan, you can damage your credit score and make future borrowing difficult or more expensive.
3. The good news is the opposite is also true. If you make payments on time, every time, you can potentially improve your credit standing.
4. The most significant risk of all is the loss and sale of your SUV due to missed payments. This is why it is important to make sure you can handle the loan according to the terms of the agreement before accepting the money.

So yes, you can get title loans on SUVs with ChoiceCash, and it’s easier to do than you might have thought.¹ Apply for your ChoiceCash title loan today to see how quickly your SUV can help you out of a financial jam!