There are also other important documents to keep track of when it comes to your car:
- Vehicle Registration
- Proof of Car Insurance
- Owner’s Manual
All of these documents will need to be kept in a safe place. Some documents that should stay in your car and other paperwork should be kept separate. Your car’s title should never be stored in your vehicle for safekeeping!
What Do I Need to Know About My Car’s Documents?
As a vehicle owner, it is important to understand the ins and outs of your car. Every vehicle should have the proper documentation on them for safety and compliance. Keep your car title and documents safe!
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You can expect your vehicle to need this paperwork inside it at all times:
1. Vehicle Registration
If you are stopped by law enforcement, you can expect the officer to request your vehicle registration and license. This is to identify you as a driver and lets the officer know that your car is legal as well as safe for the road. Vehicle registration helps an officer identify various factors about your car. Don’t keep the original document in the car, however, as you will need to pay to have it replaced if it is lost or damaged. Instead, make a photocopy of the document and keep it in your glove box.
2. Proof of Vehicle Insurance
It is not legal to drive a car in most states without vehicle insurance. In fact, most states have laws that prevent uninsured drivers from using the road. If you are pulled over without proof of vehicle insurance, you may be ticketed and fined. To avoid this, be sure to keep proof of insurance in your glove box or in another safe compartment in your vehicle. Proof of insurance is not just for law enforcement! If you hit another driver or are in an accident, you must have your insurance ready and available to show.
3. Vehicle Owner’s Manual
This is an important piece of documentation that is often overlooked by many car owners. This should not be removed from your vehicle, and it should be stored in a safe compartment in your car. If you are in an accident or you need to remove a flat tire, the owner’s manual can give you instructions and specifications about the car. This guide cannot help you if it is not in the car! While you may have access to the internet in some cases, you could lose signal and not be able to get the help you need online. The physical copy of the owner’s manual is important for emergencies.
Where Should You Keep Your Car Title as a Vehicle Owner?
Your car’s title should never be located in your car. The physical copy of the title should be kept in a fireproof safe, or another type of lockbox at home. This is to prevent theft or misplacement of your title. If an individual were to break into your vehicle and the title was in the car, they would be able to sell it or keep it. A car’s title is a record of legal proof of ownership, which may give a thief the ability to sell your vehicle if they obtain it.
Instead, keep your title where it cannot be lost, damaged, or stolen. Many car owners choose to keep their car title in a safe deposit box or a heavy safe. Safes are often fireproof, which is why many homeowners will keep their passports and social security information in them as well. You can also make a copy of the title and keep it in the safe as an extra safety measure. Or, if you have a trusted friend, let them hold onto a copy of the title in case yours goes missing or is stolen. Keep your car title stored somewhere safe!
Can I Replace My Car’s Title if it is Lost or Stolen?
A vehicle title can easily get misplaced, lost, or stolen if it is not stored properly. Your state’s local DMV will often replace a lost, stolen, or misplaced title if you have the necessary documentation. While it is possible to replace or duplicate your title, it is often a hassle and there is a fee included. For most states, this fee can be anywhere from $15-$100.
It’s best to avoid this scenario and keep your car title stored somewhere safe! If you do end up needing a duplicate title, you will need:
- The Vehicle Identification Number (VIN)
- Current Odometer Reading
- Your Driver’s License Information
Every state’s Department of Motor Vehicles (DMV) is different, however. Make sure to call ahead or look online to see what documents you will need ahead of time. It can be frustrating to make the trip out to the DMV and be told you do not have the right documents to get what you need. You will always need proof of identification and most DMVs will accept a passport or license.
Can I Use My Car’s Title for Cash?
Your car’s title can do more for you than provide proof of ownership! With a car title loan, you’ll be able to tap into your vehicle’s available equity and turn it into cash. Car title loans are an easy solution for car owners that need cash fast! They are quicker and often easier to apply for than traditional loans from a bank.
This is a result of how title loans work. Car title loans are secured with collateral, which makes the loan secured and offers you more flexibility in the approval process! Borrowers from all types of credit histories could potentially get approved for a title loan.1
While you should keep your car title somewhere safe, you can use it to get the cash you need! The amount of money you can borrow from a title loan will depend on the resale value of your car and your own income. You can access the money you need now and keep driving your car in the process!1
What are the Benefits of Using My Car Title for a Loan?
Using your vehicle’s title for a car title loan can come with more benefits besides cash! Here’s what you can expect to take advantage of as a title loan borrower:
- Keep Your Car Title and Your Keys: While you are using the title of your vehicle to secure funding, you can keep driving your car like it is business as usual! As long as you make consistent, on-time payments, you can keep your keys and drive your car while you repay the loan.
- A Faster Way to Get Cash: Car title loans were created to help borrowers in a financial emergency. With loan options like ChoiceCash Title Loans, the approval process has been streamlined to get borrowers the cash they need in as little as one business day!1 Applying can take just a few minutes of your time online or over the phone.
- Interest Rates are often Competitive: High interest rates can make your loan experience unmanageable. With a higher interest rate, you will be paying more back in the long run! That’s why loan options like ChoiceCash Title Loans can offer more competitive interest rates for qualified borrowers.
- Bad Credit isn’t Always an Issue: Bad credit can often prevent you from qualifying for many types of traditional loans. Title loans can be different! The approval process is much more flexible for borrowers with bad credit. Your collateral’s value and your income are the more important factors in the approval process for a title loan! While your credit is still considered, it is not the focus of your eligibility as a borrower.
- Payments Start Low and Can Get Lower Over Time2: With many loans, the relationship can feel a bit one sided between you and the title loan company. With loan options like ChoiceCash Title Loans, you can get rewarded for paying back your loan! Payments can start low and get lowered as you pay back your loan consistently on time.2
Where Can I Apply for Car Title Loans Online?
While it is important to keep your car title in a safe spot, it’s also important to choose a loan option that is fast and convenient! ChoiceCash Title Loans can make the approval process easy and simple.
You can get started on your title loan in just three simple steps:
- Submit an Inquiry Online, or Over the Phone with a Loan Agent
- Send in a Few Documents to Verify Your Information
- Get Qualified and Collect Your Cash!1
If you can use your car’s title to get cash in one business day, why wait to see if you are qualified?1 Get started on your ChoiceCash Title Loan today by heading over to the website, or by calling a loan agent at (855) 914-2945. Just answer a few questions about your income and vehicle. It can take just a few minutes to see if your car will qualify!1