Title loans can be a great way to get fast cash in an emergency. If you aren’t familiar with title loans, however, you might not know the best place to find one. Instead of searching for hours online for “title loans open now” there are easier ways to get connected to a loan!
Borrowers apply for a title loan for many reasons, including:
- Debt Consolidation
- Veterinarian or Medical Bills
- Vehicle or Home Repairs
- Rainy Day Money
- Paying for an Unexpected Bill or Expense
Regardless of your reason for needing extra cash this month, a title loan could help. The loan process can be quick and easy!1 See if you are qualified for title loans open now by answering a few quick questions about your car and income.
How Do Auto Title Loans Work?
If you’re searching for title loans open now, you might be curious about how they work! Title loans are secured installment loans that will let you borrow off of your car’s equity.
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Your car’s equity is just the difference between what your car is worth on the market and what you still owe on it. The more your car is worth, the more you may potentially be able to borrow through a title loan.1
Title loans are secured through collateral, which is the title to your vehicle. While you are using the title of your car to secure the loan, it offers you more benefits than you might think! Secured loans like title loans can offer these advantages:
- Keep Your Keys: To secure your title loan, you will use your vehicle’s title. Your lender becomes your lienholder, and they will hold onto the title while you repay your loan. You can keep driving your car like you normally would, however! As long as you make on-time payments to your loan, you can keep your keys.
- Flexible Approval Process1: Since a title loan is a secured loan, the approval process can be much more flexible than traditional loans. Using collateral to secure the loan makes you less of a risk to your title loan lender.
- Get a Loan Even if Your Credit isn’t Perfect1: Another advantage of a secured loan is that borrowers with a bad credit history can still apply!1 While a credit check from a traditional loan may scare you away from applying, a title loan can be much more flexible in the approval process. Since collateral secures the loan, the vehicle’s value is much more important in the approval process than a credit score.
- Meet More of Your Financial Needs: If you need more cash to make ends meet this month, a secured loan like an online title loan is the solution. Your loan amount is based upon your income and the value of your collateral rather than your credit history. This means that a title loan could offer you more funding than a traditional loan if your income supports that payment!1
Secured loans like title loans can be a great financial resource to use when you have equity in your car. If you have a paid-off or close to a paid-off vehicle, consider taking advantage of these benefits by applying for title loans open now!
Does My Car Qualify for a Car Title Loan?
When a borrower applies for a title loan, their vehicle is used as collateral for the loan. This means that the car must have a certain amount of equity to qualify as collateral. Your vehicle is what your loan amount is based on, so it must have value if it were to be sold.
The value of a car is simply the current resale value. The equity of your car is the amount of financial ownership you have. The less you owe on the car, the more equity you have. Equity can be negative or positive depending on how much you have paid to own the car, and what the car is currently worth.
Many borrowers do not know what their car is worth off the top of their head. Here are a few factors that contribute to the value of your car:
- The Year, Make, and Model of the Car
- The Style of the Car
- The Cosmetic and Surface Damages to The Car
- The Mileage on the Odometer
Curious about what your vehicle could be worth through a title loan? ChoiceCash Title Loans offers a service to help you determine the value of your car! Check out the title loan calculator today to get a free car title loan estimate online.1 If your car is paid off or close to paid off, you could qualify for a title loan! Talk to a loan agent at 855-914-2945to get title loans open now.
What Documents Will I Need to Apply for a Car Title Loan?
If you’re like most borrowers that need emergency cash, it can be convenient to get your title loan online instead of in person. With loan options like ChoiceCash Title Loans, the required documents you need to apply can be submitted online for your convenience!
Here’s what you can expect to need:
- Proof of Income: Acceptable documents are bank statements, pay stubs, Social Security checks, etc.
- Proof of Address: The easiest document to find is recent mail to your residence. If you have credit card statements or any other official mail sent to your home, use that as proof of address when you apply for a title loan.
- Recent Photos of the Car: Take photos of the front, sides, and odometer of the car.
- State Issued or Government Issued ID: Many borrowers use their driver’s license or passport as proof of ID.
- Title to Your Vehicle: It must be in your name to qualify. This is the most important document of the loan!
How Much Can I Get Through Title Loans Open Now?
Typically, title loans are anywhere from 25% to 50% of your vehicle’s value.1 Your loan amount is based upon two factors:
- The Value of Your Vehicle
- Your Ability to Repay the Loan
Your loan amount will change depending on your car’s value and income! During the application process for a title loan, a lender will look at your income and your car to determine the loan amount. With this information, they can design a loan amount and payment plan that fits your budget and financial situation!1
Do I Need to Undergo a Vehicle Inspection to Apply for Title Loans Open Now?
Many borrowers prefer to apply for the most convenient loan they can find. It can be inconvenient to bring your car somewhere for an inspection. That’s why many online title loan options will allow you to skip that hassle!
Fortunately, you can skip the in-person vehicle inspection by submitting a few photos of your car! If you’re searching for title loans open now, the process can be more streamlined than you think. Just take a few photos of the front, back, and sides of the car in clear lighting.
Often, you will need to take pics of your odometer, which is located on your dashboard. Your odometer keeps track of your car’s current mileage and your mileage contributes to your vehicle’s value. There’s no need for an in-person vehicle inspection! Just take a few pictures of your car and speed the approval process along.
How Can I Apply for Title Loans Open Now?
Are you ready for the convenience of applying for a title loan online? With loan options like ChoiceCash Title Loans serviced by LoanMart, your approval process is streamlined!1
You can expect these three, simple steps:
- Submit A Loan Inquiry Online or Over the Phone: Get started on your loan by calling a loan agent at 855-914-2945. Or, conveniently submit a loan inquiry online! It can take just minutes to do.1 Future borrowers will need to simply answer a few questions about their income and their vehicle.
- Send in the Right Documents: After receiving preapproval from the first step, the next step in the process is for a loan agent to verify your information through these required documents listed above. For your convenience, they can be submitted online!
- Get Your Cash: If you receive approval for a ChoiceCash Title Loan, a loan agent will send over your loan contract. At this point, you can discuss your rates, loan contract, and other items. The last step is to sign your loan contract and collect your cash!
Ready to Apply?
Applying with ChoiceCash Title Loans shouldn’t be a hassle. You can apply for a title loan at any time- day or night!