If you’re short on cash, a title loan might be the solution. A title loan is a type of secured loan that allows borrowers to use the title to their vehicle as collateral. You won’t need to sacrifice your vehicle to borrow the cash you need. You can continue to drive your vehicle once you are approved for a title loan. However, the title lender will put a lien on the title to your vehicle until your loan has been completely paid off.

Taking out a title loan is a fast and easy way to get the cash you need to make ends meet. If you’re considering this option, you might be wondering, “Where can I get a title loan?” Many lenders offer title loans, but you need to know how to find the right lender and what to expect once you apply. Here’s what you need to know:

How to Choose A Title Lender

All title lenders are not created equal. If you are ready to apply for a title lender, here’s what you should consider when looking for the right lender:

• Proper credentials. Make sure you choose a lender that has met the licensing and/or registration requirements to do business in your state. 
• Experience. Look for a lender that has plenty of experience with title loans. The longer the lender has been in business, the better. 
• Customer service. You should only work with a lender that is willing to answer your questions, address your concerns, and guide you through the process of borrowing money with a title loan. 
• Convenience. Choose a lender that makes it easy and convenient for you to apply for and obtain cash through a title loan. For example, you may want to look for a lender that allows you to apply online or over the phone to speed up the process. 
• Competitive rates. Get the best deal by looking for a lender that offers competitive annual percentage rates (APRs).

Keep these factors in mind when researching different lenders in your area.

Why Should I Get A Title Loan?

If you need cash, there are many reasons why a title loan might be the answer, including:

• Applications are processed quickly. Title loans are usually processed faster than traditional personal loans, which is why they’re a great option for borrowers who need fast cash.
• Most credit types are accepted. Your credit is only one factor that the lender will consider when determining your eligibility. Because of this, you may still qualify for a title loan even if you were not approved for a traditional personal loan due to your credit.
• No prepayment penalties. You won’t incur extra charges for paying off your loan earlier than expected. 
• No restrictions on how you spend the cash. Your lender won’t tell you how you can use the money you borrow. 
• You keep your car. You won’t lose your car just because you are using it as collateral for your title loan. Keep driving it while you make payments on your title loan.

These are some of the many reasons why borrowers often choose title loans over traditional personal loans. 

What Do I Need to Get A Title Loan?

You may be eligible for a title loan if you meet the following requirements:

• You are at least 18 years old.
• You own or partially own a vehicle, which means your name is on the title.
• You have equity in your vehicle.
• You have auto insurance. 
• You are willing to consent to a credit check.
• You have a reliable source of income.

Be prepared to submit a number of documents to the lender when applying for a title loan, including:

• The title to your vehicle
• Your driver’s license or another form of government-issued ID
• Proof of auto insurance
• Proof of residence
• Proof of income

Because your vehicle is used as collateral, the lender will need to inspect it as part of the application process. Talk to your lender to find out what steps you need to take to arrange this inspection.

Can I Get A Title Loan Without Proof of Income?

Your ability to repay is one of the factors your title lender will consider when determining your eligibility. This is why your title lender will need to see proof of your income during the application process. Proof of income comes in many forms, including pay stubs, recent tax documents, and bank statements.

You cannot get approved for a title loan without providing proof of income. However, it’s important to note that “proof of income” does not necessarily mean “proof of employment.” You can still get approved for a title loan if you are unemployed as long as you have another source of income, such as veterans’ benefits, Social Security benefits, or workers’ compensation.

How Much is My Car Worth for A Title Loan?

It’s important to understand how much you will be able to borrow before determining if a title loan is the right option for you. A title lender can lend anywhere from $2,510 to $50,000 per title loan. The amount you are approved to borrow will depend on several different factors, including:

• Your vehicle’s resale value: Because your car is used as collateral, the resale value plays an important role in determining how much you can borrow. Your lender will consider the vehicle’s make, model, year, condition, mileage, and trim level when calculating its resale value.
• Your equity: You must have equity in your vehicle to qualify for a title loan, and you cannot borrow more than the value of your equity in the vehicle. To calculate your equity, subtract the amount you owe on your vehicle from your vehicle’s resale value.
• Your ability to repay: Your lender will consider your monthly income and your ability to make payments when determining how much you can borrow.

If you want to know how much you can borrow, contact your lender to get a free quote. It only takes a few minutes to find out if a title loan will provide you with the cash you need.

How Can I Get A Title Loan On My Car?

The process of applying for a title loan with I Need Cash Now is simple and straightforward. Here’s what to do:

1. Call 855-713-6522 or fill out the form on our website to get in touch with one of our loan officers. During this initial conversation, the loan officer will ask you to provide some basic information, including your vehicle’s make, model, year, and mileage. 
2. Get approved. Your loan officer will tell you if you qualify for a title loan based on the information you provide. If you qualify, you will also learn more about the other terms of your loan, including how much you are approved to borrow and the interest rate. 
3. Sign and submit the required documentation. If you agree to the terms, finalize your loan by signing and submitting the required documentation to your lender. Your loan officer will explain what you need to do to complete this step.
4. Get the cash you need. There are several ways to collect your cash once your application has been approved. You can either pick it up at one of our convenient locations or arrange to have it sent directly to you via wire transfer or check. 

Take the first step toward securing the cash you need to make ends meet by contacting I Need Cash Now today.